Omni Network: A Layer for Interoperability to Solve Rollup Fragmentation

Omni is the interoperability layer and L1 public chain of Ethereum, aimed at connecting Rollups such as Optimism, Arbitrum, zkSync, and Starkware. It provides developers with a simple way to scale applications while maintaining Ethereum's security attributes by leveraging foundational technological innovations in the blockchain industry like Eigenlayer restaking, Cosmos SDK, and Tendermint consensus (. Omni allows developers to manage global application states across all integrated domains and aggregate liquidity, creating a seamless product experience for users.

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

Ethereum Sharding Issue

With the popularity of Rollups, the biggest existential threat facing Ethereum is the fragmentation caused by Rollups. Users and their capital are becoming increasingly dispersed into isolated ecosystems, diminishing the global network effect. Omni addresses this issue by integrating all Rollups into a cohesive, interoperable network.

Optimization for Ethereum Sharding

• Cross-Rollup Communication: Allows users and applications to interact across Rollups as if they were on a single network.

• Unified Liquidity Pool: Facilitates cross-Rollup transactions, aggregates liquidity, improves capital efficiency, and reduces slippage.

• Simplified user process: Users can move assets or perform actions across Rollups without complex procedures.

• Developer-friendly platform: Standardized communication protocols enable applications to work across the entire Rollup ecosystem.

• Universal Gas: Users can trade seamlessly without worrying about the specific Gas tokens of each network.

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

Project Highlights

Omni introduces an innovative network architecture designed for low-latency cross-Rollup communication and global compatibility, based on the cryptoeconomic security of re-staking ETH. By combining technologies such as CometBFT, ABCI++, and engine APIs, it achieves sub-second cross-aggregate message verification. Omni is easy to integrate with any Rollup architecture and local applications and also provides programmable state layer management for cross-Rollup application deployment.

Main Features:

• Dual Staking Model: Protection is provided by the total value of re-staked ETH and staked OMNI.

• Sub-second verification: Omni nodes use CometBFT consensus to process cross-aggregation messages and Omni EVM transactions within one second.

• Diversified Rollup Support: Designed with minimal integration requirements to ensure compatibility with any Rollup virtual machine, programming language, and data availability architecture.

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

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

Three Core Aspects of Omni

1. Ethereum Restake: Validators re-stake ETH and prove aggregated state updates, promoting global interoperability.

2. Tendermint Speed and CometBFT: Utilizing Tendermint PoS consensus, validators can reach consensus on the aggregated state, with speeds nearly an order of magnitude faster than Ethereum.

3. EVM Compatibility: The execution layer is EVM compatible, allowing developers to work in Solidity using familiar tools.

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

Functions of Omni

• Message dissemination: Secure relay messages to trigger application logic at the target.

• Multiple message propagation: A single transaction can trigger multiple outbound messages.

• Update Omni internal status: Users can purchase tokens or NFTs on any Rollup and receive them directly in the original Rollup.

• Multi-chain DeFi capital interoperability: for example, creating a margin account in Omni, collateral on Chain A, and lending on Chain B.

• NFT cross-chain interoperability: Projects can be deployed on Omni, allowing users from any chain to mint NFTs and move them between chains.

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

Project Team

Omni, formerly known as Rift Finance, is a DeFi protocol that provides financial services for Web3 projects.

• Austin King: Co-founder and CEO, formerly founded Strata Labs and worked as a software engineer at Ripple.

• Tyler Tarsi: Co-founder and CTO, previously served as a quantitative trading strategist at Stovell AI Systems.

Financing Situation

In February 2022, raised $18 million in financing, led by Pantera Capital. Other investors include Two Sigma Ventures, Coinbase Ventures, Spartan Group, etc.

Project Progress

• Q1 2022: Completed $18 million financing
• Q2 2023: Release of the first technical architecture document
• Q3 2023: Completed Testnet 1 Omni Origins
• Q4 2023: Complete Testnet 2 Omni Overdrive
• Q1 2024: Secured $1 billion in committed ETH staking
• Q2 2024: Planned mainnet launch

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

Ecosystem

AutoFarm is the first DApp launched on the Omni testnet, allowing users to automatically transfer funds to the pools with the highest returns. Currently, the mainnet is not online, and the ecosystem mainly involves collaboration with projects and deployment on the testnet.

Tokenomics

$OMNI is the native token of the Omni Network, and its uses include:

• Universal Gas
• Omni EVM Gas
• Governance
• Staking

Total: 100,000,000 Initial circulation: 10,391,492)10.39%(

Distribution:

• Private Sale: 20.06%
• Ecosystem: 29.5%
• Team: 25.25%
• Community: 12.67%
• Consultant: 3.25%
• Public Sale: 5.77%
• Binance Launchpool:3.5%

![Omni Network Explanation: Rollup Fragmentation and Unification])https://img-cdn.gateio.im/webp-social/moments-34a8ee33f5c4035bf3df6e7147377040.webp(

Genesis Airdrop

Omni will distribute a total of 3,000,000 $OMNI), which is 3% of the total supply( as an airdrop. Eligibility will be retrospectively determined from April 3, 2024, and users will have 45 days to claim. Key roles include:

• Omni Community Members
• EigenLayer staker
• Beacon Chain Staker
• Specific NFT holders
• Strategic Partnership Agreement

![Omni Network Explained: Rollup Fragmentation Unification])https://img-cdn.gateio.im/webp-social/moments-a1f99768a07240e95734b348729f04b0.webp(

Token Launch Status

$OMNI will be listed on Binance Spot at 20:00 on April 17, 2024, UTC+8 ). A total of $18.1 million was raised through two rounds of private sales, selling a total of 20.1% of the tokens. The price in the over-the-counter market has reached $40, but the depth is limited. The initial circulating market value is expected to be around $300-400 million.

Project Summary

Omni Network is a cross-Rollup interoperability protocol and the first AVS on the Layer 1 public chain and Eigenlayer. It utilizes restaking to share Ethereum security and employs BFT consensus to handle a large number of transactions. The founding team has a strong background, and the investment lineup is luxurious. The project's fundamentals are good, but the mainnet has not yet been launched, and many visions still need to be validated. Future development depends on team operations and product completion, making it worthy of continued attention.