- OmniGas is a tool that provides quick transfer of native tokens across chains.
- It has an ERC20-compatible token named OGAS that’s built over the Ethereum blockchain.
Omnigas is a LayerZero protocol that provides cross-chain transfer of tokens. It harnesses commission recovery from the destination blockchain. Right now, it’s supporting various chains like BSC, STM, AVAX, zkEVM, and many more. It provides an easy specification of the preferred transferring amount, by selecting the receiver’s address and gaining the desired output. It was initially developed to explore more of the LayerZero protocol to work from a developer’s perspective.
What Is OmniGas UI?
This cross-chain interface helps you to transfer native tokens across different blockchains with the desired amount specification. Specified paths can be easily monitored by using this platform. It provides efficiency and easiness in token transfer by directly selecting the preferred option and address to which the user wants to send native tokens.
It takes a very short period to reach the destination blockchain. After a transaction is done, a link is provided by the platform to track the status of swaps done across blockchains with the help of the LayerZero scan. Its base protocol helps in increasing the chances of airdrops over the platform. Its only limitation is that it’s still under development stage and additional features are expected to be added to it.
What Is LayerZero Protocol?
It’s a user application that could be configured on-chain endpoint. LayerZero depends on two parties (Oracle and Relayer) to transfer messages across the chain’s endpoints. When a user application (UA) transfers a message from one chain to another, the message is directed to the endpoint of the first chain. The destination notifies the UA-defined Oracle and the Relayer of the message to its endpoint.
The Oracle then transfers the block header to the destination second chain. The relayer then submits proof of transaction. This proof is authenticated on the endpoint or destination chain and the message is forwarded after that. This protocol provides state-sharing, borrowing, swapping, and governance-like mechanisms across the blockchain.Â
About OGAS Token
OGAS token is built over the Ethereum blockchain. It’s an ERC20-compatible token that aims to address the issues associated with the evolution of concepts like Yield Farming and Gas Farming. It’s assumed to be the first token that combines the benefits of both farming concepts. Meanwhile leveraging a user with resolved limitations of both concepts.
This token neglects staking mechanisms related to the traditional Yield Farming concept. It empowers a user to take control of their money at any preferred time while providing impeccable yields to the token holders. Additionally, this platform is free to use for gas farming statistics and individuals can significantly increase the harnessed profits via the gas farming concept. It also uses the insights that the product offers.
Most of its features are different from traditional methods because of their own way of providing statistics and guaranteed returns. This token empowers the Omnigas platform by offering incredible returns with lower gas fees.
Conclusion
OmniGas is a beneficial tool for hunting airdrops and cross-chain transfer of native tokens. This platform is still raw and developers are concerned about building a well-planned roadmap and user-friendly interface. Because it is based on Ethereum technology, it gets all of the ERC20 protocol’s flexibility to utilize its users. It also has a reward system which is further distributed into two tiers, Bull and Farmer. Its OGAS token is expected to get listed over UniSwap-like decentralized exchanges.
