OMG Network

OMG Network, previously known as OmiseGo, is an Ethereum-based platform that aims to solve the scalability problem of the second largest blockchain by market cap. The project uses a protocol called Plasma to scale up Ethereum transactions. The explosive DeFi industry in 2020 pushed up the price of the project’s native token, OMG, after investors started seeking “layer-2” solutions amid soaring Ethereum transaction fees and network congestion. The project completed a $25 million initial coin offering back 2017 after previously securing $17.5 million in Series B funding from venture capital investors. CoinDesk also provides a suite of institutional-grade price indexes. Find out more about them here.