What is OMG Foundation (OMG)

OMG Foundation (known as OMG Network and OmiseGO previously) or OMG Token (OMG/USDT – Trade it here) is a value transfer network for Ethereum and any ERC-20 token. It describes itself as the first production-grade layer-2 Ethereum scaling solution and aims to let people move money and a variety of digital values on the blockchain faster, cheaper, and without compromising on security. This article will explore main features of the project plus ways of how to buy OMG, sell or earn it on MEXC.

What is OMG Foundation (OMG)
What is OMG Foundation (OMG)

OMG Core Features

Created by a well-known payments company Omise, OMG Foundation now seeks to use the OMG cryptocurrency to streamline how electronic wallets issue and exchange assets. OMG Foundation System is a proof-of-stake blockchain meant to clear and settle the transfers of assets between various e-wallets, without those e-wallets necessarily having to trust each other. The Foundation also includes a built-in trading engine where e-wallet providers can open orders and be matched with other sides seeking to trade different assets. These orders can be programmed to complete within a given block on the OMG blockchain or can be left open-ended based on available asset pricing. Not all payments have to take place within the Foundation’s decentralized exchange, as OMG Foundation is interoperable with both Ethereum blockchain and the Lightning Network (Bitcoin payments)

How OMG Foundation works with Ethereum 

OMG Foundation has a number of technical features created to make it compatible with the Ethereum’s blockchain. So, all nodes validating transactions on the blockchain need to be set up as nodes on the Ethereum blockchain. E-wallet providers can also design new assets backed by ether, or they can create smart-contracts that lock ether on Ethereum, pending certain conditions on OMG Foundation. If contracts execute, these funds can then be again unlocked and returned to their original owners. The idea is that trading between e-wallets can take place at a high volume on OMG Foundation, with the final transactions being ultimately settled on Ethereum.

How to buy OMG?

Looking for how to buy OMG? You can freely buy project token on MEXC via following the steps:

  1. Log in to your {Our Name} account and click [Trade]. Click on [Spot].
  2. Search “OMG” using the search bar to see the available trading pairs. Take OMG/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of OMG you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy OMG] to confirm your order. You will find the purchased OMG in your Spot Wallet.

For the comprehensive guide on how to buy OMG and other available tokens, please visit special MEXC How to Buy Guides Section.

Recent OMG Token Price & Performance

Since listed on MEXC in 2021, OMG reached the highest price (ATH) of 20.07200 USDT in May 2021. Now at July 2022 it circulates around 2.2 USDT.

OMG Foundation Staking

On MEXC you can periodically stake OMG and other tokens via MX DeFi event plus other staking products with flexible and fixed APYs. You can check the availability of OMG staking option here.

Interested in crypto like OMG?

MEXC lists new tokens and gives access to trading of most poppular crypto coins like OMG, keep an eye on new trading stars in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

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