Omni Network Launches Omni Core Mainnet

Ethereum scaling solution Omni Network launched its Omni Core mainnet on Tuesday, according to an announcement. The system will serve as the “base layer” of the Omni Orderflow Engine, which aims to unify the fragmented Ethereum Layer 2 ecosystem.

> “The proliferation of Ethereum rollups has caused $58 billion in TVL to be scattered across more than 40 networks, creating significant challenges for users and developers alike,” the team stated. “Omni is built to reunite the ecosystem, empowering users and developers to seamlessly interact with Ethereum as if it were a single unified chain.”

Omni should not be confused with the Bitcoin secondary layer of the same name; it represents an early experiment unlocked by the emerging world of restaking. Restaking is the process of reusing staked assets like ETH to secure multiple blockchain networks and applications simultaneously, theoretically enhancing the value of proof-of-stake networks and supporting various novel applications.

Introduced primarily through the experimental EigenLayer protocol, restaking has emerged as one of Ethereum’s most promising research areas. However, few applications have yet utilized the benefits this advanced security measure can offer.

Launched in 2023, Omni aims to improve cross-chain interoperability within Ethereum’s diverse L2 landscape. While Layer 2s are reducing transaction costs and fostering unique cultures and technologies for specific applications, the fragmented ecosystem limits liquidity and Ethereum’s overall user base.

> “Fragmentation has limited the true potential of Ethereum. Liquidity is spread thin, and users face unnecessary friction just to move between rollups,” Chief Technology Officer Tyler Tarsi remarked.

Omni Core comprises a cross-chain messaging protocol and a bespoke EVM, designed to “abstract away” cross-rollup interactions, providing a smoother user experience. Together with Omni’s SolverNet, which will be updated soon, Core forms half of the Orderflow Engine, aimed at validating transactions and relaying information between chains.

Upon launch, Omni will support interoperability between the Ethereum base chain and the largest Layer 2s, including Arbitrum, Base, and Optimism, which account for over 90% of total value locked. By enhancing interoperability, Omni hopes to facilitate tools that are challenging to launch today, such as cross-rollup stablecoins and DeFi primitives that aggregate liquidity from multiple sources.

The protocol was built using the open-source Octane framework developed by the Omni team to simplify EVM integration into decentralized applications. Octane merges EVM functionality with CometBFT, the consensus engine associated with Cosmos, offering high transaction throughput through simultaneous consensus and execution processes.

Last year, the team raised $18 million from investors, including Pantera Capital, Hashed Fund, Jump Crypto, and Two Sigma Ventures, among others.