The world of blockchain technology is constantly evolving, and Ethereum, a leading platform for decentralized applications (dApps), is no exception.
To address its scalability challenges, Ethereum is adopting rollup solutions – technologies that bundle transactions for faster processing outside the main chain.
However, this fragmentizes the ecosystem, as users and their assets become siloed across different rollups.
Enter Omni Network, a revolutionary layer 1 blockchain designed to bridge this gap. By acting as a central hub, Omni aims to connect all Ethereum rollups into a single, unified system. This fosters a more interconnected and efficient environment for developers and users alike.
How Omni Network Works
Omni leverages a novel architecture centered around “restaking.” This innovative concept utilizes validators and delegators to secure the network. Validators verify protocol messages, manage rewards, and maintain the integrity of the validator set. Delegators, on the other hand, contribute to the network’s security by staking their Ethereum (ETH) tokens with validators of their choice.
Here’s a closer look at the key features that empower Omni Network:
Benefits for Developers and Users
The unified environment fostered by Omni Network unlocks a treasure trove of advantages for both developers and users:
Unified Applications
Developers can design dApps that operate seamlessly across the entire Ethereum rollup landscape, eliminating the need for separate versions for each rollup.
Upgraded Assets
Token issuers can enhance their tokens by granting them access to the global liquidity and application integrations available across all rollups.
Expanded Applications
Existing applications can expand their reach beyond a single rollup’s user base and liquidity, without requiring code modifications.
Innovation for Developers
Omni unlocks a new frontier for developers, empowering them to create a new generation of global applications that tap into the full potential of the Ethereum rollup ecosystem.
Seamless User Experience
With gas abstraction, users no longer need to hold native tokens for each network they interact with. They can pay fees with a single token, simplifying cross-chain transactions.
Omni Network’s Roadmap
Q2 2024:
- Mainnet launch: The highly anticipated mainnet launch marks the official debut of the Omni Network, bringing its interoperability vision to life.
- Liquid Restaking Protocol and EigenLayer operator onboarding: This paves the way for a robust staking infrastructure, ensuring the security and decentralization of the network.
- Token Generation Event: The official launch of the OMNI token, the lifeblood of the Omni Network, empowers users to participate in the network’s governance and economic security.
- Onboarding the first of the $11B+ commits to deploy xERC20 secured by Omni: This signifies a major milestone, attracting significant value to the Omni Network and demonstrating its potential for widespread adoption.
Q3 2024:
- Cohort launch of Natively Global Applications (NGAs) deployed on the Omni EVM:
- Multi-rollup declarative deployments for smart contracts, facilitating a kubernetes-like developer experience for expanding applications across all rollups.
- Typescript frontend library for deploying natively multi-rollup applications that work seamlessly across all rollups.
Q4 2024:
- Expand Omni Network to include alternative Data Availability systems like EigenDA and Celestia. By incorporating additional data availability options, Omni Network enhances its flexibility and resilience, ensuring smooth operation even in unforeseen circumstances.
- Attestation sharding to increase the rollup capacity of the network by an order of magnitude. This scalability upgrade significantly expands the network’s ability to process transactions, paving the way for wider adoption and a thriving ecosystem.
- Onboard MPC providers to provide institutional users with access to all Ethereum rollups. This move bridges the gap between traditional finance and the decentralized world, allowing institutional players to securely participate in the vast opportunities offered by the Ethereum rollup landscape.
OMNI Token
The OMNI token serves several critical functions within the Omni Network ecosystem:
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Governance: OMNI token holders have voting rights on proposals that shape the future of the network. These proposals can address protocol upgrades, fee structures, and integrations with other blockchains.
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Staking: Users can stake their OMNI tokens to contribute to the security of the network and earn rewards in return. Staked OMNI, alongside restaked ETH, forms the foundation of the dual staking mechanism that safeguards the network.
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Transaction Fees: OMNI tokens are the primary currency used to pay transaction fees on the Omni Network. This simplifies user experience by eliminating the need for multiple tokens across different rollups.
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Gas Abstraction: OMNI tokens facilitate gas abstraction, a core feature of the network. Users can pay transaction fees on any rollup within the network, regardless of the location of their funds. OMNI acts as the universal fuel for transactions across the entire Omni Network.
Tokenomics:
The total supply of OMNI tokens is capped at 100,000,000. These tokens are strategically distributed to ensure a healthy and sustainable network ecosystem. Here’s a closer look at the allocation:
- Private Sale Investors: 20.06%
- Public Launch Allocation: 5.77%
- Binance Launchpool: 3.50%
- Team: 25.25% (with a vesting schedule)
- Advisors: 3.25% (with a vesting schedule)
- Ecosystem Fund: 29.50%
- Community Fund: 12.67%
Participating in the Binance Launchpool for OMNI Tokens
The OMNI token is the native token of the Omni Network and plays a crucial role in the network’s governance and economic security. Here’s your chance to be part of the Omni revolution! Binance Launchpool, the industry-leading platform for discovering high-quality blockchain projects, is hosting the official launch of the OMNI token.
Starting on April 13th, 2024, you can participate in the Binance Launchpool and farm OMNI tokens by staking your BNB and FUSD tokens.
This is a fantastic opportunity to acquire OMNI tokens and contribute to the growth of the Omni Network.
Don’t have a Binance account yet? No worries! Simply follow this link to register for your Binance account and join the exciting world of the Omni Network.
To learn more about OMNI, refer to the Binance Research report.