We’ve decided to make a strategic move by migrating OSEA liquidity from PancakeSwap to SyncSwap, the largest DEX on the zkSync. This decision is driven by several key factors aimed at enhancing the trading experience for users and strengthening Omnisea's integration with the zkSync ecosystem.
Reasons for the Migration
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Trading on the Most Popular zkSync DEX: Omnisea aims to facilitate trading on the most popular DEX on the zkSync network, SyncSwap. By migrating liquidity to SyncSwap, OSEA, Omnisea's native token (OFT), will be available on the exchange with the highest user activity and TVL. This move is driven by the desire to increase trading volume on OSEA, as PancakeSwap has not met expectations in terms of volume over the last six months.
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Deeper Integration with zkSync Ecosystem: The collaboration with SyncSwap signifies Omnisea's commitment to further engage with the zkSync community. The decision to migrate liquidity is a clear signal that Omnisea believes in the potential of zkSync and aims to contribute to the network's development alongside other protocols. This move aligns with the preferences of Omnisea's users who actively utilize zkSync chain.
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Gas Fee Payments in OSEA: Through integration with SyncSwap and its partnership Holdstation Account Abstraction Wallet, Omnisea introduces a valuable utility for OSEA holders. Users will be able to pay gas fees on zkSync directly in OSEA, providing an additional layer of utility to the token. This feature enhances the overall interaction of OSEA within the zkSync network.
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Strengthening Market Health: Migrating liquidity from PancakeSwap to SyncSwap is a crucial step in ensuring a healthy market for OSEA. Omnisea is committed to creating optimal trading conditions for its users, and this migration, combined with increased liquidity on SyncSwap, positions OSEA as one of the major pools on the platform.
Migration Schedule
Recognizing the importance of transparency in the market, we want to present you with the migration plan for the OSEA pool to zkSync, set to take place on March 11, 2024. In our commitment to the well-being of our holders, we believe it is essential to ensure that this process is transparent and understandable from the very beginning for everyone.
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The OSEA pool removal on PancakeSwap (OSEA/WETH pair) is scheduled for Monday, March 11, at 7 am UTC. As a result, trading OSEA on zkSync on PancakeSwap in our official pool will come to an end.
Trading on PancakeSwap in the OSEA/BUSD pair will still be supported and available.
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When creating new LP tokens on SyncSwap, our immediate goal is to boost liquidity, reaffirming our commitment to fostering a robust market for OSEA. Our aim is to enhance liquidity by a minimum of 20%.
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The new OSEA pool on SyncSwap (OSEA/WETH) will be created on March 11 at 9 am UTC. The pool price will be determined by the price of our second pair, OSEA/BUSD. Trading on zkSync will be enabled starting from that moment.
Our heartfelt gratitude goes out to our holders for their trust and time. The decision to migrate liquidity is a significant milestone in our ongoing efforts to enhance the accessibility of OSEA on both decentralized and centralized exchanges. We promise to continue initiating efforts to strengthen the OSEA ecosystem and eagerly anticipate the continued support of our community.
Learn more about OSEA:
SyncSwap Website: