Omni Network Unites Ethereum Ecosystem, Fostering Cross-Chain Collaboration

Omni Network is an interoperability protocol built on Ethereum that connects all Ethereum rollups through low-latency communications. Secured by restaked ETH and Omni's native token OMNI, Omni offers minimal integration requirements for developers and seamless interaction between different Layer 2 rollups, while deriving security from the Ethereum mainnet. Designed to provide backward compatibility with existing rollup applications, Omni aims to foster a thriving ecosystem and drive cross-chain composability.

Omni Network: Unifying the Ethereum Ecosystem

Introduction

Omni Network is an interoperability protocol operating on Ethereum, designed to seamlessly connect all Ethereum rollups, enabling cross-chain communication and fostering collaboration within the blockchain ecosystem. This groundbreaking technology aims to establish Ethereum as a unified operating system, powering applications that operate effortlessly across multiple chains.

Key Advantages

The Omni Network offers several transformative advantages for developers and users:

• Minimal Integration Requirements: Omni ensures seamless integration, allowing developers to build applications across rollups without extensive modifications.
• Ethereum-Native Interoperability: By providing secure and globally compatible interoperability, Omni facilitates seamless communication and interaction between Layer 2 rollups, while inheriting the robust security of the Ethereum mainnet.
• Universal Gas Marketplace: Omni streamlines gas payments and enables users to interact with any application, simplifying transactions and driving demand for the OMNI token.
• Backward Compatibility: Omni's architecture ensures compatibility with existing rollup applications, eliminating the need for developers to modify their contracts.
• Restated ETH Security: Omni's security model leverages restated ETH, creating a secure environment for application development and user interactions across rollups.

The OMNI Token

The OMNI token, an ERC-20 token launched on Ethereum L1, plays a crucial role in Omni Network's ecosystem:

• Gas Token: OMNI serves as a gas resource, facilitating transactions across any Ethereum rollup.
• Native Gas Token: It acts as the native gas token for the Omni EVM.
• Governance Token: The token enables users to participate in the platform's governance decisions.
• Staking Mechanism: OMNI, in conjunction with restated ETH, forms the dual staking model, reinforcing the network's security.

Fundraising and Partnerships

Omni Network has successfully raised $18 million from notable investors, including Pantera, Spartan Group, and Two Sigma. Ether.Fi, a liquid restaking protocol, has committed $600 million worth of ETH in a delegation deal, enhancing Omni's security against breaches and asset depegs.

Omni is the first Actively Validated Service (AVS) to secure over $1 billion in staked ETH commitments from liquid restaking protocols like Ether.Fi, Renzo, Rio, Swell, and others. Leveraging the shared security of Ethereum and the validation mechanisms provided by EigenLayer, AVSs empower developers to utilize Ethereum's security framework without the need for replication, bolstering protection against attacks.

Testnets and Mainnet Launch

Leading up to the mainnet launch, Omni Network conducted multiple testnet rounds to ensure a smooth and reliable platform:

• Omni Origins Testnet: Processed 1.5 million transactions from 150,000 users.
• Omni Overdrive Testnet: Attracted 400,000 users and 30 ecosystem projects, handling a total of 6 million transactions.
• Omni Omega Testnet: Currently running with 37 operators and 75,600 restakers delegating to Omni operators.

Bridging Blockchain Ecosystems

In contrast to other blockchain networks, Omni Network is pioneering a holistic approach to interoperability, encompassing all blockchain networks, regardless of their underlying technology. Through a foundational layer, Omni acts as a universal connector, facilitating interactions between different ecosystems. A permissionless network of Omni validator nodes, secured by restaked OMNI and restaked ETH, utilizes CometBFT consensus to validate messages and transactions, paving the way for true cross-chain composability.

Token Distribution and Genesis Airdrop

Omni Network has a maximum supply of 100 million tokens, with 10.39% in circulation at genesis. To recognize the contributions of the community, the Omni Foundation launched the OMNI Genesis airdrop, distributing 3 million tokens to users who actively participated in the platform's development.

Conclusion

Omni Network is transforming the Ethereum ecosystem by establishing a seamless bridge between its rollups. The OMNI token serves as a connecting factor, powering the universal gas marketplace and the dual staking mechanism. The ecosystem is set for further expansion in the coming months, with the launch of the mainnet, the onboarding of additional partners, and the integration of alternative Data Availability systems. Omni Network is poised to empower developers to unlock the full potential of Ethereum, fostering a unified and interconnected blockchain landscape.