Omni Network: Interoperability solution to solve the fragmentation of the Ethereum ecosystem

Omni is an interoperability layer and L1 network designed for the Ethereum ecosystem, aimed at connecting various Rollups such as Optimism, Arbitrum, zkSync, and Starkware. It provides developers with an easy way to scale applications while maintaining Ethereum's security attributes by leveraging fundamental technological innovations in the blockchain industry, such as re-staking using Eigenlayer, Cosmos SDK, and Tendermint consensus (. Omni allows developers to manage global application state and aggregate liquidity across all integrated domains, creating a seamless product experience for users.

![Omni Network Detailed Explanation: Rollup Fragmentation Unification])https://img-cdn.gateio.im/webp-social/moments-50d4b4aa282dbcc30f0328bb78f6ea3b.webp(

Project Background

With the popularity of Rollups like Arbitrum and Optimism, the biggest challenge facing Ethereum is the ecological fragmentation caused by Rollups. Users and their capital are increasingly dispersed into isolated ecosystems, reducing the global network effect. Omni addresses this issue by integrating all Rollups into a cohesive, interoperable network.

Main Features

1. Cross-Rollup Communication: Allows users and applications to interact across various Rollups.

2. Unified Liquidity Pool: Promotes cross-Rollup transactions, aggregates liquidity, and improves capital efficiency.

3. Simplify user flow: Users can move assets or perform operations across Rollups without complex processes.

4. Developer-friendly: Provides standardized communication protocols to facilitate the development of cross-Rollup applications.

5. Universal Gas: Users can trade seamlessly regardless of which network their funds are on, without needing to consider specific Gas tokens.

![Omni Network Overview: Rollup Fragmentation Unification])https://img-cdn.gateio.im/webp-social/moments-335e42c5ba9467947401f44d79916f19.webp(

Technical Architecture

Omni introduces a network architecture designed for low-latency cross-Rollup communication, based on the cryptoeconomic security of re-staked Ether. Key technical features include:

• Dual Staking Model: Security is provided by re-staked ETH and staked OMNI.

• Sub-second verification: Process cross-Rollup messages within one second using CometBFT consensus.

• Diversified Rollup Support: Designed to be compatible with various Rollup virtual machines and architectures.

• Backward compatibility: Applications can integrate Omni without modifying existing smart contracts.

![Omni Network Explained: Rollup Fragmentation Unified])https://img-cdn.gateio.im/webp-social/moments-45953b575504549d27900366f455bdba.webp(

Application Scenarios

1. Message propagation: Securely relay messages to the target Rollup to trigger the corresponding application logic.

2. Multiple Message Broadcasting: A single transaction can trigger multiple outbound messages to different Rollups.

3. Update the internal status of Omni: Users can interact with the portal contract on any Rollup.

4. Multi-chain DeFi capital intercommunication: for example, collateral on chain A, lending on chain B, and sharing margin accounts.

5. NFT Cross-Chain Interoperability: Allows minting and transferring NFTs on any chain.

![Omni Network Explained: Rollup Fragmentation Unification])https://img-cdn.gateio.im/webp-social/moments-8f106b4ffc54f019078615330448911c.webp(

Project Team

Omni was co-founded by Austin King and Tyler Tarsi. Austin King previously founded Strata Labs and worked at Ripple, while Tyler Tarsi served as a quantitative trading strategist at Stovell AI Systems. Both graduated from Harvard University.

Financing Situation

In February 2022, completed a $18 million financing round led by Pantera Capital. Other investors include Coinbase Ventures, Spartan Group, Defiance Capital, and others.

Project Progress

• Q1 2022: Completed a $18 million financing
• Q2 2023: Release of technical architecture documentation
• Q3 2023: Completed Testnet 1 Omni Origins
• Q4 2023: Complete Testnet 2 Omni Overdrive
• Q1 2024: Secured $1 billion in re-staked Ether commitments
• Q2 2024: Planned mainnet launch

![Omni Network Details: Rollup Fragmentation and Unification])https://img-cdn.gateio.im/webp-social/moments-c3df2834e576e69deaa80223a56227f9.webp(

Token Economics

• Token Name: $OMNI
• Total Supply: 100,000,000
• Initial circulation: 10,391,492)10.39%(

Main use:

• General Gas
• Omni EVM Gas
• Governance
• Staking

Token Allocation:

• Private Sale: 20.06%
• Ecosystem: 29.5%
• Team Share: 25.25%
• Community Share: 12.67%
• Advisor Allocation: 3.25%
• Public Offering: 5.77%
• Binance launchpool:3.5%

![Omni Network Explained: Rollup Fragmentation and Unification])https://img-cdn.gateio.im/webp-social/moments-01043db3111b4cc922afc268a0142227.webp(

Genesis Airdrop

Omni will distribute 3,000,000 $OMNI), which is 3% of the total supply, as a genesis airdrop, primarily targeting:

• Omni Community Members
• EigenLayer Staker
• Beacon chain solo staker
• Specific NFT holders ( such as Milady Maker, Pudgy Penguin, etc. )
• Strategic Partner

Token Listing

$OMNI will be listed on Binance Spot on April 17, 2024. The project raised $18.1 million through two rounds of private placement, with an initial circulation of 10,391,492(, which is 10.39% of the total supply ).

Project Summary

Omni Network, as a cross-Rollup interoperability protocol and first-layer public chain, utilizes Eigenlayer for re-staking to share Ethereum security, adopting BFT consensus to achieve high throughput and low latency. The project is founded by an experienced team and supported by well-known investment institutions, positioned in a promising interoperability track. However, the project has not yet launched its mainnet, and many features still need validation. Overall, Omni has a solid fundamental outlook and is worth ongoing attention for its subsequent developments.