Impossible Finance has deployed on Omni Network Testnet!

We are thrilled to announce that we officially deployed on Omni Network — A groundbreaking layer 1 blockchain that connects all rollups. As the crypto space continues to evolve, this integration seeks to offer both Impossible and Omni Network communities the chance to explore and learn about the Omni Network before its highly anticipated mainnet launch.

In this guide, we will walk you through the background of Omni Network, the benefits it offers, and how you can participate in the Omni Overdrive Testnet through an exclusive Impossible Finance StakeDrop simulation.

What is Omni Network

Omni Network is a Layer 1 blockchain network that utilizes frontier technology such as Ethereum’s Eigen Layer restaking mechanism. This unique innovation empowers developers to build applications that are available across all rollups without adding any complexity to the current development process.

All cross rollup functionality is abstracted away from both end users as well as developers to be handled exclusively by the network itself. This means it allows developers to build applications that are available across all rollups, lowering the friction to acquiring more users, hence generating greater accessibility for users as well.

Omni Network is secured by the Ethereum network and successfully completed their funding round which accumulated $18 million in funding from prominent investors, including Pantera and Two Sigma.

Some exciting developments and initial use-cases to anticipate from Omni Network includes:

Source: Omni Network Docs
*Note: These functionalities are not available on the Omni Overdrive Testnet V2

Explore Omni Overdrive Testnet V2!

In conjunction with Omni Network, we have designed a simple and informative StakeDrop simulation on the Omni Overdrive Testnet V2.

Rewards for Participating:

As a token of appreciation for participating in the IDO simulation on Omni Network, eligible users who successfully complete the entire flow will receive an exclusive Omni Network OAT token on Galxe. To claim your OAT token, ensure your Galxe address is verified and complete the necessary quest. Additionally, you can earn extra OMNI points by participating in this quest as part of the Omni Testnet Mission Center.

Below, we outline the step-by-step process to get you started on this thrilling experience:

Arbitrum and Linea Testnet Guide

Step 1: Get Testnet Tokens from the Faucet

Start the process by receiving your testnet token. Firstly, you have to mint OAT from completing the tasks here.

And now you can access the faucet page here, enter the same address you have used for Galxe and claim your Faucet Tokens.

Step 2: Go to Impossible Finance and Connect Your Metamask Wallet

Now you have your OMNI tokens, you can start your Impossible Journey. No KYC required! Begin by heading to the Impossible StakeDrop Simulation, and connect your preferred wallet to Impossible Finance.

Step 3: Select the “Arbitrum” and/or “Linea” Sale and switch to the respective Testnet

Approve the network switch on your Metamask wallet.

Step 4: Swap ETH for wETH on Impossible Swap

Wrap your ETH tokens for wETH on the user-friendly Impossible Swap interface.

Step 5: Stake wETH on the Impossible Sale Card

Mimicking our StakeDrop sale process, enter your preferred amount, stake your wETH on the Impossible Sale Card, and approve the transactions to secure your allocation in the simulation.

Step 6: Set your Reminder for the Claim period (Important)

With our stakeweight formula, the longer you stake, the more your allocation will become! So, make sure to set your Reminder for the claiming period.

The stakeweight will be calculated across all (Omni, Arbitrum and Linea)chains you have participated in.

Step 7: Claim after staking ends

When the staking ends, you can claim your OMNIF tokens! Once the claim period starts, you can claim anytime after — There is no time limit.

Click on any of the sale cards you have participated in to claim. If you participated in more than 1 sale card, you only need to claim once as the stakeweight is combined.

Step 8: Participate in Omni Overdrive Galxe

Now, you will be able to claim additional OAT token and OMNI points through Omni Overdrive - Mission Impossible here.

Omni Testnet Guide

Step 1: Get OMNI Tokens from the Faucet

Start the process by receiving your OMNI token. Firstly, you have to mint OAT from completing the tasks here.

And now you can access the faucet page here, enter the same address you have used for Galxe and claim your Faucet Tokens.

Step 2: Go to Impossible Finance and Connect Your Metamask Wallet

Now you have your OMNI tokens, you can start your Impossible Journey. No KYC required! Begin by heading to the Impossible StakeDrop Simulation, and connect your preferred wallet to Impossible Finance

Step 3: Select the “Omni Network” Sale and switch to Omni Testnet

Approve the network switch on your Metamask wallet.

Step 4: Swap OMNI for wOMNI on Impossible Swap

Wrap your OMNI tokens for wOMNI on the user-friendly Impossible Swap interface.

Step 5: Stake wOMNI on the Impossible Sale Card

Staking Period is from 11/10/2023 - 29/10/2023 at 11:00 AM EST

Mimicking our StakeDrop sale process, enter your preferred amount, stake your wOMNI on the Impossible Sale Card, and approve the transactions to secure your allocation in the simulation.

Step 6: Set your Reminder for the Claim period (Important)

Claim will start from 30/10/2023 at 11:00 AM EST

With our stakeweight formula, the longer you stake, the more your allocation will become! So, make sure to set your Reminder for the claiming period.

The stakeweight will be calculated across all (Omni, Arbitrum and Linea)chains you have participated in. For the stakeweight formula, 3 components are used in our Allocation
Calculation:

• User Weight = how much you stake + how long you stake -> The amount increases the value of your weight per minute of staking
• Total Weight= Everyone’s summed Weight value
• Sale Amount= How many tokens are we selling

Allocation = (User Weight / Total Weight) * Sale Amount

Once the claim period starts, you can claim anytime after — There is no time limit.

Step 7: Claim after staking ends

Claim will start from 30/10/2023 at 11:00 AM EST

When the staking ends, you can claim your OMNIF tokens!

Click on any of the sale cards you have participated in to claim. If you participated in more than 1 sale card, you only need to claim once as the stakeweight is combined.

Step 8: Participate in Omni Overdrive Galxe

Now, you will be able to claim more OAT token and receive additional points through the Omni Overdrive Galxe Mission here.

Conclusion

At Impossible Finance, we are committed to providing our users with early access to promising opportunities in the crypto space. With the Omni Network partnership, we are proud to offer a unique chance to explore this cutting-edge blockchain before its mainnet launch. Don't miss out on this exciting opportunity to learn and grow in the crypto world. Connect your wallet to Omni Network's testnet and embark on a thrilling stakedrop simulation today!

About Omni

The Omni Network is a layer 1 blockchain built to connect all rollups. Using Omni, developers can build global applications that are available across all rollups. Secured through restaking $ETH, Omni is a next-generation blockchain leading the frontier in both security and functionality.

Omni is backed by $18M from prominent investors such as Pantera Capital, Two Sigma Ventures, and Jump Crypto.

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About Impossible Finance

Impossible is an on-chain native, research advisory firm with a DeFi launchpad and accelerator. We help projects kickstart, fundraise, scale and launch their tokens while enabling users to learn, discover and invest in high quality crypto opportunities.

Website | Twitter | Discord | Telegram | Blog