OmiseGO

The OMG token has a total supply of 140.2 million, all of which were released during the initial launch. According to the project’s initial white paper, OMG was designed as a way to facilitate payments on the Omise platform using the Ethereum network in a more scalable manner.

When OMG switched from OmiseGo to the OMG Network, the token became a utility and staking token that allowed users to run validator nodes on the OMG proof-of-stake (PoS) network. Although validation could be done through staking, OMG doesn’t feature any on-chain governance functionality.

OmiseGo’s OMG initial coin offering from June to July 2017 raised $25 million in ETH. The majority of the funds were used by the development team at a 2:1 ratio between network and end user application development. The rest was used to pay for regular business expenses. Tokens were both publicly and privately allocated as follows:

• 65.1% of the tokens issued at the sale were issued to ICO participants.
• 5% of tokens were airdropped after the ICO to every ETH token holder as a way to promote the use of OMG.
• 20% were held in reserve by OmiseGO, with a lockup period of one year, for future costs and fees for the development of the project.
• 9.9% of OMG were distributed to key contributors and team members of the project, subject to a one-year lockup.

OMG hit its all-time low of $0.3197 in July 2017 shortly after the ICO. As a way to promote OMG, the development team decided to airdrop 5% of the total OMG supply to all Ethereum token holders. Although the token fell from the promotion, it proved to be successful. In the next month, as OMG soared over 2,000% to a high of $7.34.

OMG’s price reached its all-time-high of $28.35 in January 2018 during the peak of a crypto-wide bull run. After briefly falling below $10 during a broad crypto market crash, OMG reclaimed $20 following its listing on major Asia-based exchanges Bithumb and Zebpay.