using default(omit) in a template

I am trying to use the following in a template

var = {{ param | default(omit) }}

when the template copied to the host , it looks like this

var = __omit_place_holder__ced80263bbdf6fd69a66240ad5188ab4727dd7ad

instead of what i was hoping to get which was

#var =

any ideas on how to achieve this properly?

Something like:

{% if param|default(‘MISSING’) != ‘MISSING’ %}
var = {{ missing }}
{% else %}
#var =
{% endif %}

There are probably other options as well, but this is largely what I use and what I see elsewhere.