OMG Network was a layer-2 scaling chain for Ethereum. It was built on the Plasma design and batched payments off the main chain so they cost less. As of 25 October 2026, the scaling analytics site L2BEAT lists it as "archived and no longer maintained," with about $51.06K of value still secured in its contracts. The OMG token is still a live ERC-20 contract on Ethereum. The network it was built for is no longer an active project, and several trading platforms dropped the token between 2023 and late 2025.
The short version
| Item | Detail |
|---|---|
| Ticker | OMG |
| Token standard | ERC-20 on Ethereum |
| Contract | 0xd26114cd6EE289AccF82350c8d8487fedB8A0C07 |
| Maximum total supply | 140,245,398.245132780789239631 OMG |
| Network type | Plasma (layer 2 on Ethereum) |
| Status | Archived, no longer maintained (L2BEAT) |
| Can it be mined? | No. OMG is a fixed-supply ERC-20 token |
Where it came from
Omise and the 2017 token sale
Jun Hasegawa and Ezra Don (Donnie) Harinsut founded the payments company Omise in Thailand in 2013. People often give 2013 as OMG's launch year, but that is when the company started, not the token. OmiseGO, the blockchain project, launched in 2017. Dealroom puts its 2017 token sale at about $25 million.
Vitalik Buterin was one of OmiseGO's advisors. On 22 September 2017 he said publicly that all of his advisor shares in OmiseGO would go to charity or other uses.
Plasma: the design OMG bet on
Joseph Poon and Vitalik Buterin published "Plasma: Scalable Autonomous Smart Contracts" as a working draft dated 11 August 2017. The paper proposed child chains that sit on top of Ethereum. Each child chain posts commitments to the main chain. Ethereum enforces the rules through fraud proofs and lets users "exit" their funds back to layer 1 if the operator misbehaves. OmiseGO became one of the best-known teams trying to put Plasma into production.
2020: mainnet, rebrand, Tether, sale
- June 2020: The project went live on mainnet as OMG Network (formerly OmiseGO), according to The Block.
- 1 June 2020: Plans to support Tether's USDT on OMG Network were announced. The aim was faster confirmations and lower fees than sending USDT on Ethereum directly.
- 19 August 2020: The Block reported that USDT was live on the network.
- 4 December 2020: The Block reported that Genesis Block Ventures (GBV), a subsidiary of the Hong Kong OTC trading firm Genesis Block, had acquired OMG Network from its former parent SYNQA. Financial terms were not disclosed.
2021: Boba Network and the BOBA airdrop
In 2021 the OMG Foundation's attention moved to Boba Network. Boba is an optimistic-rollup layer 2 built by the Enya team as core contributors to the OMG Foundation. The snapshot for the BOBA governance-token airdrop to OMG holders was taken on 12 November 2021, at Ethereum block 13,597,967 and Boba Network block 15,354. BOBA was distributed on 19 November 2021. Cointelegraph reported that OMG fell about 33% after the snapshot, from a daily high of $19.35 to around $13.
Where does your OMG sit, and what applies to it?
Pick where your OMG is held to see which points from this article apply to you.
Where is your OMG held right now?
- With a custodian or trading platform → next question
- In my own Ethereum wallet, as the ERC-20 token → The token still exists, but the network it served does not
- Still on the OMG Plasma chain → Funds on the Plasma chain rely on the exit mechanism
Has that platform told you it is dropping OMG?
- No, or I am not sure → Check whether your custodian still supports OMG
- Yes, I received a delisting notice → Read the notice for withdrawal terms
OMG is still a live ERC-20 contract on Ethereum (0xd26114cd6EE289AccF82350c8d8487fedB8A0C07). L2BEAT lists the Plasma chain it was meant to secure as archived and no longer maintained. For current price, circulating supply and market cap, use a live aggregator, because older OMG figures are out of date.
Several trading platforms delisted OMG between 2023 and late 2025. If a custodian holds your OMG, ask it whether it still supports the token.
At least one delisting notice warned that withdrawals could fail once on-chain activity stopped. The notice from your own platform sets out its terms for your OMG.
Funds left on the Plasma chain rely on users' right to exit back to Ethereum. L2BEAT lists the exit window as none because the contracts can be upgraded instantly. A single centralised operator produced the blocks. L2BEAT lists the project as archived and gives no date for when it stopped operating.
This sorts the article's general points by where OMG is held. It cannot check your own platform's support status or withdrawal terms, the token's current price, or whether an exit from the Plasma chain will succeed.
How the OMG Plasma chain worked
- A single operator produced the blocks. L2BEAT describes the operator as centralised: "the only entity that can propose blocks."
- Transaction data lived off Ethereum. Data availability was external. Only commitments were posted to layer 1.
- Safety relied on exits. Ethereum did not check every state change. Users and watcher software relied on the right to withdraw funds back to Ethereum, and exits could be challenged during a dispute window. If the operator withheld blocks, watchers could signal everyone to leave together. This is known as a mass exit.
- The contracts could be upgraded instantly. L2BEAT lists the exit window as "none" because the contracts can be upgraded without delay. Users have no time to leave before an unwanted change takes effect. L2BEAT also flags two deposit verifier contracts whose source code is not published on Etherscan.
This model worked best for simple payments. Plasma struggled with general smart contracts because every user had to keep and watch their own data so they could exit safely.
Why Plasma lost to rollups, and why it came back up
On 14 November 2023 Vitalik Buterin wrote that Plasma "has since largely been superseded by rollups." He blamed the heavy client-side data storage it requires and "fundamental limitations of Plasma that make it hard to generalize beyond payments." In the same post, "Exit games for EVM validiums: the return of Plasma," he argued that validity proofs (ZK-SNARKs) "give us a reason to rethink this decision." His argument was about Plasma as a design, not about reviving OMG Network.
What this means for OMG holders today
- The token is not the network. OMG still exists as an ERC-20 token on Ethereum, but L2BEAT lists the Plasma chain it was meant to secure as archived.
- Platform support has been shrinking. Several trading platforms delisted OMG between 2023 and late 2025. At least one delisting notice warned that withdrawals could fail once on-chain activity stopped. If a custodian holds your OMG, ask it whether it still supports the token.
- Funds left on the Plasma chain rely on the exit mechanism described above. That mechanism gives no exit window before upgrades and depends on an operator that L2BEAT no longer maintains a listing for.
- Market data: for current price, circulating supply and market cap, use a live aggregator. Older figures for OMG are out of date.
L2BEAT gives no date for when OMG Network stopped operating.
