What is Omax?

OMAX is a community-driven token launched on November 3, 2021, on the Binance network, with plans to transition to its own blockchain, OMX20, which is EVM compatible. The blockchain’s testnet was released on April 3, 2022, achieving 67,000 transactions per second (TPS), with the mainnet scheduled for launch by the end of July 2022. OMAX has a total supply of 10 billion tokens, with 4% already burned as part of a deflationary model that also includes burning 4% of each token during transactions.

The OMAX ecosystem aims to integrate its blockchain with e-commerce platforms, allowing users to make daily purchases using cryptocurrency. It operates on a Proof of Stake consensus mechanism for security and efficiency, supporting smart contracts and protocols. OMAX is headquartered in Dubai, UAE, and its development team is based in Australia and the United Kingdom. An exchange is anticipated to be launched in early 2023.