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. Basic information for their token is available on the MEXC Digital asset introduction page.

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 to issue and exchange assets. OMG Foundation System is a proof-of-stake blockchain. It clears and settles 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 the 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 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.

Recent Price & Performance of OMG

Currently, their market price is $1.13 per unit. It has a market cap of $159,046,442 and a fully diluted market cap of $159,057,518. It also has a 24-hour trading volume of $14,293,733. You can check the live price of their token right here!

How to buy OMG

You can buy OMG on MEXC by following the steps:

  1. Log in to your MEXC 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.

You can find a detailed guide on how to buy OMG token here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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