On our rebranding journey, one of the most important milestones is to swap the existing OML tokens for the new tokens. Because OML is bridged and exists in 4 different blockchains and hodled by more than 10.000 different wallets, we have decided to 1:1 exchange all the owned OML for the omChain.
If you are currently hodling OML on your wallet, worry not. We will be handling the 1:1 swap for you, and if you have OML on the central exchanges, we will be 1:1 swapping their tokens, so that new tokens will be credited to your account. Read below to learn more about the details;
The New Token: omChain (OMC)
omChain (OMC) is going to be the native gas token of the omChain network and a linked-token on the Ethereum, Binance Smart Chain and Avalanche Networks. Unlike the OML token, which had different contract addresses on ETH/BSC&AVAX, omChain (OMC) has and will have the same contract address on all supported networks.
The contract address for the token is: 0x1f926B439FAe4595E5951029D47616FeCa401B77
omChain (OMC) Token Tracker | SnowTrace
omChain (OMC) Token Tracker on SnowTrace shows the price of the Token $0.00, total supply 0, number of holders 0 and…
We will reach out to Etherscan/Bscscan/Snowtrace about the token contract migration and get the token details page updated as soon as possible.
We have also identified the following websites/explorers where we should be updating the information page for our project;
- Pangolin Dex
- Trust Wallet
Any website/platform fetching data from the CoinMarketCap website will automatically update the token information once CMC page has the change. If you have identified a different where we should be changing the information about the token, please send us an e-mail at firstname.lastname@example.org
Exchanges & Transactions
OML is currently listed at three central exchanges (Bitget & MEXC & Kointra), Bitget allows deposit of OML in ETH/BSC networks and MEXC only supports BSC network and Kointra only supports ETH network. We have reached out to those exchanges and asked them to disable deposits/withdrawals on May 10th, 2022 at 07:00 AM UTC+0 and disable trade at 10:00 AM UTC+0. Because we are having a ticker change (from OML to OMC) it is important for exchanges to update the information on their platforms and make necessary adjustments.
Also on May10th, at 08:00 PM UTC+0 (20:00) we will stop all the transactions on the ETH/BSC/AVAX contracts and it will not be possible to use the omLink blockchain bridge or make any token transfers.
However, the omChain will not be affected and users can freely keep transacting on the omChain.
We are planning on distributing all the new OMC tokens on the omChain on May 11th. Users willing to go back to ETH/BSC/AVAX networks can use the omLink bridge to transfer assets between blockchains. after the 1:1 airdrop.
Once we are confident with the 1:1 OMC swap and everything seems to be perfectly fine, we will inform exchanges and they will enable OMC market and continue trading. We will be providing additional information about the status of the process.
Two new proposals: Liquidity & Staking Penalties
We want your opinion on two things;
One: what should we do with the current liquidity we have in the Pangolin DEX? Our liquidity provider allows users to swap tokens without ever needing a centralized exchange. However, before we issue the token swap, liquidity should be removed from the pool and re-added after token swap.
We want to hear your opinions on this, so that we ask our liquidity provider to deposit LP tokens to your favorite DEX (Pancake or Pangolin?)
Two: there is a 6% early staking withdrawal penalty. And currently those penalties remain in the staking contract, to be redistributed to the users. However, depending on community’s decision, we might burn the tokens that were collected as a penalty fee.
The voting for the two proposals will last until this Friday (13th of May).
Have any other questions? We are here for you!
Send us an e-mail at email@example.com to let us know about your question and we will get back to you with an answer!