Omni announces $10m rewards program for SolverNet users

Omni Foundation has launched a $10 million incentive program aimed at powering the next adoption of crypto.

In an announcement, the Omni Foundation said its $10 million rewards program, which goes live with support for Symbiotic, will power the future of crypto user experience and growth.

The Omni Network team is taking this step via SolverNet, its cross-chain applications and user experience solution. The incentive program comes a week after Omni Foundation launched its “Hello, New World” campaign amid its integration with Symbiotic, a restaking protocol currently with over $1 billion in total value locked.

Omni will use the campaign to “accelerate adoption of Symbiotic and future applications built on SolverNet,” according to details in a blog post.“

SolverNet was created to make using crypto apps feel effortless — no more bridging, no more delays, no more friction. This incentive program is our way of showing how intuitive the onchain experience can be when complexity disappears,” the Omni Foundation wrote.

In this case, Omni plans to reward early users interacting with SolverNet-enabled decentralized applications.

The first rewards will be via Symbiotic’s wrapped staked Ethereum (wstETH) vault on testnet.

Users can deposit funds into vaults on layer 1 from rollups, all without having to resort to bridging solutions. Omni users can start earning rewards with testnet wstETH from Omni’s Base Sepolia faucet.

Per Omni Foundation, the incentive program is open to all users. This includes those who deposit on Symbiotic’s testnet and those who join after SolverNet’s upcoming mainnet launch on Symbiotic.

This launch comes a few weeks after Omni Network introduced staking upgrade OMNI, with Omni native staking on the Ethereum Virtual Machine platform.

Omni EVM staking allowed all stakers an opportunity to earn rewards as they help secure the network.