OmniTensor
  • Welcome
  • Introduction
    • What is OmniTensor?
    • Vision & Mission
    • Key Features
    • Why OmniTensor?
      • Current Challenges in AI
      • How OmniTensor Addresses These Challenges
  • Core Concepts
    • AI Grid as a Service (AI-GaaS)
      • Overview of AI-GaaS
      • Benefits of AI-GaaS
      • Use Cases of AI-GaaS
    • Decentralized Physical Infrastructure Network (DePIN)
      • GPU Sharing Model
      • Incentive Mechanisms
    • AI OmniChain
      • Layer 1 and Layer 2 Integration
      • AI Model Marketplace and Interoperability
    • DualProof Consensus Mechanism
      • Proof-of-Work (PoW) for AI Compute
      • Proof-of-Stake (PoS) for Validation
    • OMNIT Token
      • Overview
      • Utility
      • Governance
  • Tokenomics
    • Token Allocations
    • Token Locks
    • ERC20 Token
    • Audit
  • OmniTensor Infrastructure
    • L1 EVM Chain
      • Overview & Benefits
      • Development Tools & API
    • AI OmniChain
      • Interoperability
      • Scalability
      • Decentralized Data & Model Management
    • Nodes & Network Management
      • AI Consensus Validator Nodes
      • AI Compute Nodes (GPUs)
  • Roadmap & Updates
    • Roadmap
    • Future Features
  • PRODUCTS
    • AI Model Marketplace
    • dApp Store
    • Data Layer
    • Customizable Solutions
    • AI Inference Network
  • For the Community
    • Contributing to OmniTensor
      • Sharing Your GPU
      • Data Collection & Validation
    • Earning OMNIT Tokens
      • Computation Rewards
      • Data Processing & Validation Rewards
    • Community Incentives & Gamification
      • Participation Rewards
      • Leaderboards & Competitions
  • For Developers
    • Building on OmniTensor
      • dApp Development Overview
      • Using Pre-trained AI Models
    • SDK & Tools
      • OmniTensor SDK Overview
      • API Documentation
    • AI Model Training & Deployment
      • Training Custom Models
      • Deploying Models on OmniTensor
    • Decentralized Inference Network
      • Running AI Inference
      • Managing and Scaling Inference Tasks
    • Advanced Topics
      • Cross-Chain Interoperability
      • Custom AI Model Fine-Tuning
  • For Businesses
    • AI Solutions for Businesses
      • Ready-Made AI dApps
      • Custom AI Solution Development
    • Integrating OmniTensor with Existing Systems
      • Web2 & Web3 Integration
      • API Usage & Examples
    • Privacy & Security
      • Data Encryption & Privacy Measures
      • Secure AI Model Hosting
  • Getting Started
    • Setting Up Your Account
    • Installing SDK & CLI Tools
  • Tutorials & Examples
    • Building AI dApps Step by Step
    • Integrating AI Models with OmniTensor
    • Case Studies
      • AI dApp Implementations
      • Real-World Applications
  • FAQ
    • Common Questions & Issues
    • Troubleshooting
  • Glossary
    • Definitions of Key Terms & Concepts
  • Community and Support
    • Official Links
    • Community Channels
  • Legal
    • Terms of Service
    • Privacy Policy
    • Licensing Information
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  • Contract Details
  • The Importance of the ERC20 Token
  • Utility within the OmniTensor Ecosystem
  1. Tokenomics

ERC20 Token

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Last updated 5 months ago

The ERC20 OMNIT token on the Ethereum blockchain acts as a key link for OmniTensor’s ecosystem, offering immediate utility while OmniTensor’s native chain, OmniChain, is under development. Prior to the full launch of OmniTensor’s own blockchain (OmniTensor EVM Chain), the ERC20 version of OMNIT plays an important role in promoting early adoption, liquidity and accessibility.

Contract Details

For transparency, you can view the OMNIT token contract details on the Ethereum blockchain:

Contract Address:

By launching OMNIT on Ethereum, OmniTensor can build momentum, incentivize community contributions and prepare for the seamless transition to its own AI-driven, decentralized blockchain.

The Importance of the ERC20 Token

  1. Seamless Integration with Ethereum Ethereum is a well-known blockchain network, recognized for its security, broad adoption and large developer base. By launching OMNIT as an ERC20 token, OmniTensor taps into Ethereum’s expansive ecosystem of DeFi platforms, wallets and exchanges. This helps build liquidity and trust within the broader blockchain community before transitioning to the native OmniTensor blockchain.

  2. Accessibility and Early Adoption Launching OMNIT on Ethereum makes the token instantly available to a global audience of users and investors. It encourages early adoption by allowing OMNIT to be used across Ethereum-based platforms and tools such as decentralized exchanges (DEXs), lending protocols and staking platforms. This broad access fosters community involvement and brings early liquidity to the ecosystem, which will eventually move to the native OmniChain.

  3. Cross-Chain Conversion OmniTensor's native blockchain is being developed to provide advanced functionality tailored for decentralized AI (DeAI) applications and computing. While this blockchain is under development, the ecosystem will initially use the ERC20 OMNIT token. To enable a smooth transition, a proprietary dApp called CrossChain Converter will be employed, allowing users to convert ERC20 tokens on the OmniTensor EVM Chain into native tokens. This tool will also support other EVM-compatible chains in the future.

Utility within the OmniTensor Ecosystem

As the core currency of the OmniTensor ecosystem, OMNIT serves various functions:

  • Users can earn OMNIT by contributing their GPUs to the decentralized compute network.

  • Community members receive OMNIT for validating datasets essential for AI model training.

  • Developers are rewarded in OMNIT for contributing AI models, building AI dApps and helping expand the ecosystem.

Once the OmniTensor native blockchain is launched, the ERC20 OMNIT tokens are expected to migrate to the native token standard via a token bridge, preserving user balances and enabling more specific functionality within the OmniTensor network.

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