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 testnet for OMAX was launched on April 3, 2022, featuring a capability of 67,000 transactions per second (TPS), with the mainnet estimated to reach over 85,000 TPS. The mainnet launch was scheduled for July 2022. OMAX has a total supply of 10 billion tokens, with 4% burned and a deflationary model implemented that burns an additional 4% on each transaction.
OMAX operates using a Proof of Stake consensus mechanism to ensure security, stability, and efficient transaction processing. The network supports EVM-compatible smart contracts and has plans for a comprehensive ecosystem integrating blockchain with e-commerce platforms to facilitate cryptocurrency transactions for everyday purchases. Headquartered in Dubai, UAE, OMAX's development team comprises members from Australia and the United Kingdom. An OMAX exchange is expected to launch in early 2023.
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