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Omni Network Launches Omni Core Mainnet to Unify Ethereum's Layer 2 Ecosystem

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The Block
670Words
Dec 17, 2024

Omni Network has launched its Omni Core mainnet, aiming to unify Ethereum's fragmented Layer 2 ecosystem. The Omni Core serves as the base layer of the Omni Orderflow Engine, designed to address the challenges posed by the proliferation of Ethereum rollups, which have scattered $58 billion in total value locked (TVL) across over 40 networks. Omni seeks to reunite the ecosystem, allowing seamless interaction with Ethereum as a unified chain. The project leverages 'restaking,' a process of reusing staked assets to secure multiple networks, introduced through the EigenLayer protocol. Omni Core includes a cross-chain messaging protocol and a bespoke EVM to facilitate cross-rollup interactions, enhancing user experience. At launch, it supports interoperability between Ethereum's base chain and major Layer 2s like Arbitrum, Base, and Optimism. The protocol uses the Octane framework, combining EVM functionality with CometBFT for high transaction throughput. Omni raised $18 million from investors, including Pantera Capital and Jump Crypto.

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