Omni Network’s token price has halved just 18 hours after its test net users and some NFT holders were airdropped the token.
The Omni Network’s ERC-20 token OMNI dropped over 55% nearly 18 hours after its airdrop, shaving off over half its market capitalization.
Meanwhile, a fake token sporting the same name has just been “rug pulled,” with its price dumping 100%.
The layer-1 testnet blockchain aiming to connect Ethereum rollups doled 3 million OMNI — 3% of its 100 million token supply — to its community contributors on April 17, starting at 11 am UTC. OMNI, market cap was $560 million.