OMG token

Last updated 4 months ago

Please note: the OMG Network is still in development, and some details cannot yet be included. This knowledge base will be revised regularly to include updates and additional details.

The OMG token is first and foremost a staking token. By holding OMG tokens, users gain the right to take an active role by running validator nodes on OMG’s Proof of Stake network, using their tokens as a security deposit. Returns may be paid out in any currency, including but not limited to OMG. OMG will be a conduit for bringing value to Ethereum mainnet, because the value of OMG will be backed by the value of the amounts transacted on the OMG network; both external, real-world money, and crypto-money that is being pushed through the network’s decentralized exchange (including the other applications, businesses, and token projects that are outsourcing their DEX requirements to it).

The token will have value derived from the fees derived from this network, with the obligation/cost of providing validation to its users. This token must have value, to prevent low-cost attacks and is necessary to enforce this network.

As the OMG platform and underlying network develops and evolves over time, so does the nature and role of the OMG token.