Omni Network

The genesis airdrop covered 3 million OMNI, which is 3% of the 100 million supply. A snapshot on 3 April set eligibility, and claims stayed open for 45 days, with unclaimed tokens returning to the Omni Foundation for future community activities.

Eligibility was split into eight categories. The largest share, 1.5 million tokens or 50%, went to community members who took part in the testnet. Other groups included EigenLayer restakers (400,000 tokens), Beacon Chain solo stakers (300,000) and holders of NFT collections such as Milady Maker, Pudgy Penguins, Redacted Remilio Babies and Injective Ninjas.

Mixing testnet users, stakers and NFT communities is a way to reach several audiences at once, and it also meant many recipients had little interest in the project beyond the drop.

Trading began on 17 April 2024. Within half an hour, OMNI dropped nearly 30%, from $53.80 to under $39, and it kept falling. Coin-Turk reported a fall of more than 55% about 18 hours after the airdrop. Cointelegraph reported that a fake token with the same name was "rug pulled" at the same time, losing 100% of its price, which shows how quickly imitations appear around a launch.

The supply plan sets the context for those prices. The largest part of OMNI, 29.5 million tokens or 29.5%, was set aside for ecosystem development, and nearly a quarter, 23.3 million, was earmarked for investors and advisers. With only 3% going to the community, most of the supply was always in the hands of the project and its backers.

The sources are news reports and a Crypto.com promotion, not the foundation's own documents, so check exact figures against the official announcement.