Ecosystem: The decentralized monopoly interchange public finance

The traditional banking system is based on a scam. It's time to fix it.

10x this. This is common knowledge, but the reality is much worse than what you can imagine.

When banks dish out loans, they aren't simply giving out pre-existing funds that they possess - they print more money, completely out of thin air. What then happens to the people with the 1% yield savings accounts?

Inflation outpaces their interest. At its worst, this system leads to catastrophes that taxpayers have to pay for, like the events of the 2007-2008 financial crisis. At their best, they are stealing money from your savings, forcing you to compete in the financial markets, which is their end goal. This forces you to bet on the financial markets to outpace inflation, more money in the financial markets mean a bigger industry for them to capture.

Now imagine the biggest bank you know: While they offer you a 0.1% savings account, they also offer a tons of products. They offer investment services, act as brokerages, offer bonds and the aforementioned savings accounts. They might even own your local hospital. They have a monopolized ecosystem similar to that of apple, where each product compounds to bring attention to the others, they own everything. Do you not think they corroborate with the hospitals they own? Banks aren't just a fiat custodial. They are steadily and completely evil. They are a scam abusing you to fund their operation, giving you the crumbs of their profits (promising to be on your team). whilst earning trillions (since finance is one of the biggest industries in the world). Yet, they charge a single mother overdraft fees...

For customers Omen offers lending & borrowing, bonding services, banking services, fiat (stable-coin) services, interest rate accounts, mutual funds, brokerages and exchanges.

Omen is redefining the concept of monopoly, as outlined in the "Separation of Inter-connected Products" approach. While the model is based on creating a monopoly, the key difference is that this time, the monopoly belongs to the people.

Omen will operate as a decentralized, on-chain version of the vision we've been discussing. It starts as a community-owned bank, where anyone holding $OMEN tokens has a stake in the bank's treasury. Omen will function as a centralized entity overseeing the entire zkSync DeFi ecosystem, yet it will remain decentralized in nature.

For users, Omen will provide a range of services, including lending and borrowing, bonding, banking, fiat (stablecoin) services, interest-bearing accounts, mutual funds, brokerage, and exchange options.

Regardless of zkSync being the underlying blockchain, customers will experience straightforward services through various onboarding methods. The experience will be so seamless that even someone like your grandmother could use Omen without ever needing to understand blockchain technology. All that will matter is that her family reassures her she’s finally free from the grip of traditional bankers.