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The Omni network aims to enable use cases including cross-rollup stablecoins and other DeFi primitives that can aggregate liquidity from different Layer 2 rollups.
Blockchain development firm Recursive introduced the Omni Network, a cross-rollup protocol built on the Ethereum restaking project Eigen Layer. The Omni network aims to be the first generalized cross-rollup infrastructure protocol tapping on Ethereum’s vast security infrastructure. Notably, the Omni network facilitates communication between Layer Two rollups while deriving security from the Ethereum mainnet.
Recursive and Omni Network
Recursive, previously called Ruft, raised about $18 million from veteran blockchain investors like Pantera Capital, Jump Crypto, The Spartan Group, and Two Sigma Venture Capital in 2022 to help bootstrap the idea. As a result, the Omni network was able to hire experienced developers to build an infrastructure for decentralized applications intending to scale on different Ethereum-based rollups.
“Omni transmits messages from one rollup to another,” Recursive co-founder Austin King noted. “Users make a transaction on a protocol that has integrated Omni, which is then observed by Omni validators responsible for relaying the message to the recipient rollup.”
As Web2 internet projects and traditional financial institutions tap into the Web3 scalable market, the development of interoperable infrastructure is key to mainstream adoption. As a result, the Omni network aims to enable use cases including cross-rollup stablecoins and other DeFi primitives that can aggregate liquidity from different Layer 2 rollups.
“Omni allows developers to think globally, not locally,” King, who previously ran Strata Labs, noted. “This has significant impacts for them in terms of reaching a wider market of users and providing fundamental economic advantages like liquidity aggregation across rollups.”
Omni Network’s Future on Ethereum Ecosystem
The Omni network is in the initial stages of development and a lot is yet to be released to the public. In the coming weeks, the Omni network team announced it will be releasing more details on how DeFi developers can benefit from the newly launched layer two interoperable infrastructure. Specifically, the Omni network intends to educate its users on how it derives security from Ethereum for interoperability, the new class of applications that programmable interoperability will facilitate, and technical development progress with its core rollup partners.
“Omni began with the promise of bringing programmable Ethereum interoperability to the world, and we are just getting started,” a blog post noted on the Omni website.
Notably, the Omni network will tap on the Eigenlayer, a protocol built on the Ethereum network that introduces restaking of delegated Ethers on the beacon chain and from liquid staking programs like Lido Finance. With EigenLayer, Ethereum stakers can help secure many decentralized financial protocols by restaking their staked Ethers and opting in many DeFi projects simultaneously, thereby providing pooled security.