Omni Network (Omni) is a layer 1 blockchain designed to integrate Ethereum’s rollup ecosystem into a single, unified system. Using Omni, developers can build natively global applications that access all of Ethereum’s liquidity and users by default.
OMNI is the native token for the Omni Network and serves the following roles in the protocol:
Universal Gas Resource: OMNI is used as the payment mechanism to compensate relayers submitting transactions to destination rollups.
Gas for Omni EVM: OMNI is the native currency for processing transactions on the Omni EVM.
Network Governance: OMNI stakeholders will be responsible for various governance decisions such as protocol upgrades and additional developer features.
Staking: The Omni protocol implements a dual staking model for economic security. Security is a function of the combined value of staked OMNI and restaked ETH.
The protocol consists of the following primary components:
External rollups: The source and destination networks for cross-rollup messages.
Omni validator nodes: A permissionless network of nodes that use CometBFT consensus to validate cross-rollup messages and transactions on the Omni EVM. These nodes are secured using the combined value of staked OMNI and restaked ETH.
The Omni blockchain: The single source of truth for all cross-rollup messages and Omni EVM transactions processed by Omni validators.
Relayers: Permissionless entities that submit finalized cross-rollup messages from the Omni network to destination rollup networks.
The project has raised 18.1MM USD from two rounds of private token sales, where 9.1% of the OMNI total token supply has been sold at 0.18 USD/OMNI (Seed Round), and 11% of the OMNI total token supply has been sold at 1.50 USD/OMNI (Series A), for the total of 20.1% of the OMNI total token supply sold in the private rounds.
As of April 12th 2024, the total supply of OMNI is 100,000,000 and the circulating supply upon listing will be ~10,391,492 (~10.39% of the total token supply).
Key metrics: (As at April 12th, 2024)
1. What is Omni Network?
Omni is Ethereum’s integrated rollup layer that allows developers to build unified applications across all Ethereum scaling solutions. It is powered by a novel blockchain architecture that supports sub-second finality with security derived from Ethereum through restaking.
1.1. Project Mission & Value Proposition?
Project mission
Omni’s mission is to return Ethereum to its role as a single, unified operating system for decentralized applications.
Value Proposition
Ethereum’s rollup-centric architecture has forced the network to scale via isolated execution environments. This has fragmented liquidity, users, and developers and degraded Ethereum’s network effects.
Using Omni, developers can program across multiple Ethereum rollups as if they were working in a single state machine. Applications built with the Omni EVM can exist across all Ethereum rollups by default, allowing developers to integrate all of Ethereum’s liquidity and users into their applications.
1.2. Project Key Highlights
Dual Staking Model: Omni is a Proof-of-Stake network secured by the combined value of restaked ETH and staked OMNI.
Sub-Second Verification: Omni nodes use CometBFT consensus to process cross-rollup messages and Omni EVM transactions in under one second. Using alternative finality mechanisms, such as pre-confirmations and transaction insurance, Omni can provide sub-second finality for cross-rollup messages.
Diverse Rollup Support: Omni is designed with minimal integration requirements to ensure compatibility with any rollup virtual machine, programming language, and data availability architecture.
Backwards Compatibility: Applications can integrate Omni without modifying their existing smart contracts. Instead, applications can employ modified frontend instructions to send cross-rollup messages through Omni.
1.3. Existing Products
Omni Origins Testnet (June – July 2023)
Total number of transactions processed: 1.5M
Total unique users: 150K
Ecosystem projects: 4
Omni Overdrive Testnet (August – October 2023)
Total number of transactions processed: 6M
Total unique users: 400K
Ecosystem projects: 30
Omni Omega Testnet (March 2024 – Present)
Total number of operators: 37
Total number of restakers delegating to Omni operators: 75,600
2. Technical Infrastructure
Modular Node Architecture: Omni introduces a novel node architecture (Octane) designed around Ethereum’s Engine API. This creates a clear separation between each node’s consensus and execution environments while allowing nodes to use existing Ethereum execution clients.
Integrated Consensus: Omni validators use CometBFT consensus and ABCI++ vote extensions to concurrently validate cross-rollup messages and transactions on the Omni EVM.
Natively Global Applications: The Omni EVM simplifies cross-rollup application development by dynamically propagating contracts and interfaces to any rollup. This approach to building cross-rollup applications allows developers to program cross-rollup applications in a single environment and minimizes the potential for smart contract vulnerabilities that arise from the intricacies of working with distributed state.
3. Token sales and economics
3.1. Token Distribution
3.2. Token Release Schedule
4. Roadmap & Updates
4.1 Completed Milestones
4.2. Current Roadmap
Q2 2024:
Mainnet launch.
Liquid Restaking Protocol and EigenLayer operator onboarding.
Token Generation Event.
Onboarding the first of the $11B+ commits to deploy xERC20 secured by Omni.
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.
Attestation sharding to increase the rollup capacity of the network by an order of magnitude.
Onboard MPC providers to provide institutional users with access to all Ethereum rollups.
4.3. Commercial and Business Development Progress
Ethereum L2s:
Examples: Arbitrum, Optimism, Polygon, Linea, Scroll, zkSync, Mantle, Metis, Base, Plume, etc.
Definition: Layer 2 blockchains scale the Ethereum network.
Scope: Native integrations to guarantee interoperability across Ethereum’s expanding ecosystems of L2s.
2. Liquid Restaking Protocols:
Examples: EtherFi, Renzo, Puffer, Swell, Kelp, EigenPie, Bedrock, etc.
Definition: Liquid Restaking Protocols are liquid derivative platforms built on EigenLayer. They serve as interfaces to the EigenLayer ecosystem by securing Actively Validated Services (AVSs) such as Omni and offer users a higher yield than ETH staking.
Scope: Omni has received commitments totalling more than $1B worth of Ethereum to secure the Omni Network from the leading restaking protocols listed above.
3. EigenLayer
Definition: EigenLayer is a protocol built on Ethereum that introduces restaking, a new primitive in cryptoeconomic security. This primitive enables the reuse of ETH on the consensus layer. Users that stake ETH natively or with a liquid staking token (LST) can opt-in to EigenLayer smart contracts to restake their ETH or LST and extend cryptoeconomic security to additional applications on the network to earn additional rewards.
Scope: The Omni Network is a blockchain secured by restaking enabled by EigenLayer. Over 50,000 individual stakers have delegated Ethereum to secure Omni via Eigen Layer on testnet.
4. Roll Ups-as-a-Service Providers
Examples: Conduit, Caldera, Ankr, AltLayer.
Definition: RaaS providers allow anyone to deploy rollups. They provide all-in-one infrastructure that enable customers to rapidly deploy on Ethereum mainnet.
Scope: Native component within RaaS product package offering any developer utilizing RaaS providers instant, out-of-the-box interoperability.
5. Infrastructure Partners
Examples: a41, Galaxy, Blockdaemon, Kiln, Ankr, etc.
Definition: Core infrastructure partners providing validator, node and operator services for Omni.
Scope: Omni’s infrastructure partners listed above have committed to securing the Omni Network by accepting delegation from Omni stakers and Ethereum restakers.
5. Community
6. Appendix