Analyzing Binance Launchpool's Latest Project Omni Network: A Next-Generation Communication Protocol
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Analyzing Binance Launchpool's Latest Project Omni Network: A Next-Generation Communication Protocol
Omni brings this experience to Ethereum Rollups through a novel protocol architecture, enabling sub-second cross-Rollup message verification.
Navigating Web3 tides with focused insightsAuthor: PAUL VERADITTAKIT
Translation: LlamaC
(Portfolio: FORM 2016, about Tomo: eth foundation illustrator)
"Recommended Preface: Recently, building infrastructure projects using EigenLayer has become popular among developers. These projects, known as Active Validation Services (AVS), refer to any system requiring its own distributed validation semantics for verification. Such systems may include DA layers, new virtual machines, oracles, bridges, and more. This article aims to explain the first upcoming AVS system whose internal mechanisms, once successfully launched, would represent a dual upgrade in both security and user experience compared to LayerZero."
Introduction
Rollups are Ethereum’s present and future scaling solution. From 2021 to 2023, rollup adoption steadily increased, bringing nearly a 10x improvement in transaction throughput for Ethereum L1, as illustrated in the chart below.
Source: https://l2beat.com/scaling/activity
Rollups help Ethereum process more transactions efficiently by executing them off-chain while only storing data or proofs on Ethereum L1. This approach allows rollups to inherit Ethereum L1's security while maintaining compatibility with Ethereum’s vast developer tools and application ecosystem.
However, because rollups scale Ethereum through isolated off-chain environments, they introduce negative externalities that reduce Ethereum’s network effects. Specifically, liquidity, users, and developers are fragmented across different ecosystems. The growing diversity of rollups and their increasing adoption will only exacerbate these issues. Therefore, Ethereum needs a native interoperability protocol to realign itself with its original vision of being a unified operating system for decentralized applications.
Omni’s Key Innovations
Omni is an Ethereum-native interoperability protocol that establishes low-latency communication across all Ethereum rollups, enabling Ethereum to function as an integrated system in the modular era. Built by a team with deep industry expertise, Omni aims to unify Ethereum’s fragmented rollup ecosystem with the following defining characteristics:
Security
Historically, interoperability protocols have struggled with security. First-generation protocols relied solely on a set of trusted participants to validate and relay cross-chain messages. Over the years, these protocols have been the target of numerous exploits, cumulatively costing the industry over $1 billion in losses.
Second-generation protocols improved this design by applying cryptoeconomic security to the network. In this model, participants stake the protocol’s native asset to take part in validation. While this was a step in the right direction, reliance on a native asset makes the protocol’s security guarantees inherently unstable.
Using EigenLayer, Omni introduces a fundamentally new security model for interoperability protocols. Omni secures its validator set using re-staked ETH, aligning the protocol’s security budget directly with that of Ethereum L1. Ethereum’s current security budget exceeds $100 billion—more than an order of magnitude larger than any other PoS network. By leveraging re-staked ETH—a highly liquid and low-volatility asset—Omni achieves significantly greater security stability than its predecessors. Furthermore, by deriving security from Ethereum, Omni aligns its security foundation with the rollups it connects, fostering a security model that scales in sync with Ethereum’s modular ecosystem.
Omni is setting the standard for EigenLayer’s Active Validation Services (AVS). It became the first protocol to secure an agreement with a Liquid Restaking Token (LRT) provider when it committed to leasing $600 million worth of re-staked $ETH from EtherFi. The Omni team has since reached agreements with multiple other LRT providers, pushing its initial security budget above $1 billion. This enables Omni to deliver industry-leading security without imposing high costs on the protocol to bootstrap its network. As the only AVS running on testnet besides EigenDA, Omni is positioned as the most production-ready AVS in the market.
Sub-Second Verification
One key advantage of monolithic blockchains like Solana over modular systems is low-latency transactions. Users have grown accustomed to sub-second transaction speeds, which match the user experience of modern cloud-based web applications. To compete with these alternative platforms, cross-rollup message delays must rival the transaction speeds of monolithic systems.
Omni brings this experience to Ethereum rollups through a novel protocol architecture that enables sub-second cross-rollup message verification. After processing 7.5 million transactions from 550,000 wallets on prior testnets, Omni Labs completely overhauled the network’s architecture. At the core of this design is Octane, a new open-source framework combining the EVM with CometBFT consensus. Octane leverages the Ethereum Engine API and ABCI++, creating a clean separation between execution and consensus environments within Omni nodes, thereby isolating performance-limiting components found in existing EVM < CometBFT frameworks.
Native Global Applications (NGAs)
Beyond providing cross-rollup message verification, Omni also offers a dedicated execution environment—Omni EVM—that allows developers to manage all their rollup application deployments from a single location. Using Omni EVM as an orchestration layer, developers can deploy Native Global Applications (NGAs). NGAs represent a new category of applications that dynamically propagate contracts and interfaces across any rollup, making them natively accessible to all of Ethereum’s liquidity and users by default. With NGAs, developers can harness the scalability of Ethereum rollups without bearing the burden of managing distributed state across multiple rollup environments.
As the rollup ecosystem continues to evolve, projects will develop increasingly customized rollup solutions—each tailored to specific functional and performance requirements, integrating unique virtual machines, programming languages, and data availability architectures. Omni is intentionally designed to support any rollup architecture, enabling seamless application management via Omni EVM.
Backward Compatibility
To accommodate existing rollup applications, Omni was designed with backward compatibility in mind. Applications can integrate Omni without modifying their already-deployed contracts. Instead, apps use modified frontend instructions to assemble cross-rollup messages, allowing Omni to act as a wrapper around existing application deployments. Omni also introduces a universal gas market that handles rollup-layer messaging to destination networks, eliminating the need for users to maintain collections of different gas tokens.
Team
Omni Labs is composed of a team with extensive industry experience. The team is led by CEO Austin King, a Harvard graduate who previously built the Interledger network—a payment system that processed $10 billion in payments before being acquired by Ripple. CTO Tyler Tarsi, also a Harvard alumnus, leads development efforts and brings experience building machine learning infrastructure for quantitative trading systems. Prior to building Omni, the two co-founders jointly developed Rift Finance, a DeFi protocol that accumulated $50 million in TVL within just two days.
Looking Ahead
Omni’s unique approach to Ethereum rollup interoperability will soon be available to all users and developers. The Omni Labs team recently deployed its final testnet, Omni Omega. In Q2, Omni will become the first AVS to launch on mainnet, delivering a secure and high-performance interoperability solution to Ethereum’s fragmented rollup landscape. Just as rollups have become the foundational infrastructure for transaction processing, Omni is poised to become the standard for interoperability within the Ethereum ecosystem.
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