OMNI Token’s 55% Dip and Fake OMNI’s 100% Fall Creates a Buzz

• Omni Network released 3 million OMNI tokens to the community contributors on April 17.
• The airdrop has caused OMNI to decline more than 55%, currently trading at $23.71.
• PeckShieldAlert cautions against a fake OMNI token, which fell by 100%.

In a surprising turn of events, Omni Network’s airdrop led to a significant price decline for the network’s ERC-20 token, OMNI. In addition, a scam involving the launch of a fake OMNI token has been identified, with its price falling 100%.

Marking a “critical first step towards decentralization for the Omni Network,” the platform launched the OMNI token. In an official blog, Omni Network announced the Genesis staking program, stating, “Genesis stakers will earn 6% APY and be eligible to receive partner protocol airdrop distributions that are sent to the Omni Foundation.”

Omni Network released 3 million OMNI tokens, representing 3% of its 100 million supply, to the community contributors on April 17. Subsequent to the airdrop, the token plummeted by more than 30%, from $53.80 to below $39. In the following hours, the token experienced further dips, slipping to severe lows of over 55%.

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