L2 scaling solution based on Plasma.
Fee for transfering ETH to/from OMG Network is equal to ETH transfer fees (average gas price 87 gwei as of 2021/01/14).
Fee for one transaction on OMG Network is ~0.0716 OMG (0.23 USD as of 2021/01/14).
Transaction speed is much faster than on Layer 1 but the finality block time is parallel with Layer 1 -> ~15 seconds.
Proof-of-Authority as of 2021/01/14. Proof-of-Stake will replace PoA once it's implemented.
Plasma (either using PoA or PoS) ensures high throughput and very low cost per transaction. These properties imply high capital efficiency.
In the last successful test (June 2020) the network was processing around 4000 TPS.