Octopus DAO April 2024
👋Hey Octopus Community! Our 20th Community Call was very exciting. We’ve come a long way and we thank you for your continued support.
✨This second quarter of 2024 brings the birth of Omnity!✨
Omnity is a trustless, 100% decentralized, omnichain interoperability protocol built on the Internet Computer, developed by Octopus Network.
Runes will be the first Bitcoin asset to cross the Omnity hub to the Internet Computer and the ICP ecosystem. Omnity launches in April — in tandem with the launch of Runes at the Bitcoin Halving.
Omnity is truly a game changer for the interoperability space. It’s a trustless omnichain hub, completely on-chain, with remarkable speed and cost-efficiency that stays under the hood for users, seamlessly integrated with ICP. A perfect, invisible Hub.
More details from our 20th Community Call👇👇
Core Team Updates
(💻,🧠) Louis, Founder
I’ll share 2 main points:
- Now I am at the 2024 Hong Kong Web3 Festival to join some events. I can say that if we need anything, the ICP Foundation will be supportive.
- I am fully convinced that Bitcoin is the right decision for all of us and our communities.
What was the hottest topic in ETHDenver?
The answer is Bitcoin.
And now it’s happening again in Hong Kong — Bitcoin token, Runes protocol…
Our Bitcoin Runes event was amazing and buzzy! It was organized very late, and we didn’t expect that many people would come. But, the participation rate was beyond our expectations!
So, I’m fully convinced that we should allocate more resources to Bitcoin.
By leveraging the technology from ICP and the energy from the Bitcoin community, Octopus will grow fast and reach a level that we have never imagined before.
These are the two things I wanted to share with our community.
(💻,💻) Julian, Head of Development
- Omnity Project
The first cross-chain scenario supported by Omnity will be a cross-chain between Bitcoin and ICP. We will then implement support for EVM chains.
We are now able to cross-chain transfer Runes from Bitcoin to ICP and redeem them. We also implemented an indexer for Runes. We are currently doing more testing and optimization, and contacting the security team to audit the code. Omnity is expected to go online in late April.
- Octopus and Eigenlayer Collaboration Project
We have also completed the high-level design for the Octopus and Eigenlayer collaboration project. We have identified what needs to be achieved for the first milestone. We have already started developing the contract for integrating with Eigenlayer.
(📺,🌍) Vivi, Head of Media & Community
When it comes to global influence and branding building, our team has been working very hard. Now let me share with you all the global community’s team updates, starting with me:
- Early in March, I was interviewed by ICP in ETHDenver, in which I shared with ICP’s host, Kyle, the key value propositions of Omnity and why we built on ICP.
- After ETHDenver, when I returned to Silicon Valley, in the Bay Area, and was invited to the ETHDenver after-party event as moderator to share with founders and investors in the Web3 space the latest trends in the space. I also introduced Octopus and Omnity to the audience.
- Sheldon did an interview with Just Crypto and shared the latest updates on Octopus and Omnity. Sheldon will tell you more later on.
- The global community team has also done a lot of work to educate and engage the community on the topics of Omnity and interoperability. Cesar will share more later on.
(💻,🤝) Sheldon, Ecosystem Development Lead
We had a fairly busy end to Q1. There are a lot of people asking about the appchain products as well as the Omnity product.
Obviously, we’re focused on Omnity with the launch coming up this month. We’re very excited about that, but the Omnity product is made up of different components that we have been publishing for quite some time.
I’m very happy that we’re still getting questions about NEAR-IBC and about the Canister design that makes Omnity possible because it’s part of Octopus 2.0 Restaking.
A lot of people have been asking about the components for that because they’re interested in IBC [expanding outside of Cosmos SDK blockchains.]
On the ICP side, there’s more people building up their multi-chain products and a few others who will be trying to interface with Bitcoin, Ethereum, and other chains as well.
So, it’s been exciting to keep up with their work. If you notice our presence on Twitter, we’re trying to keep up more with the ICP community and ICP products. You’ll see us active in some Twitter spaces there and contributing to the community there.
So it’s been a great end to Q1 and looking forward to the launch of Omnity coming up this month.
(📺,💬) Cesar, Social Media Manager
The Octopus community team kicked off March by building the Omnity community across platforms like Twitter, Telegram, and Medium. So you can check out our new Omnity Linktree profile to stay connected!
In terms of community stats, Omnity Twitter has over 4200 followers on Twitter, and Octopus Twitter has gained over 1000 new followers on this very platform compared to last month.
Throughout March, we’ve dedicated ourselves to educating the community about Omnity’s origins, technology, and ongoing development progress.
On the community engagement activities side, we’ve rewarded our loyal supporters with over 700 $OCT distributed through the Omnity Monday Games Series and our Omnity Web Launch Contest.
Stay tuned on all our social platforms for more contests and opportunities like these. April is bringing exciting events, new milestones, and announcements. So follow us for updates. See you on Octopus and Omnity socials!
(✏️,🧐）Zan, Editor
With the upcoming launch of Omnity and Runes subsequent to the Bitcoin halving, we’ve been very active.
One highlight was that the Cosmos’ Interchain Foundation contacted Octopus Network asking us to publish an article on the Cosmos Interchain Blog explaining our new implementation of the IBC protocol for non-cosmos chains, Adaptive IBC.
Octopus Network has been working on interoperability for almost four years and even received a grant from the Interchain Foundation in 2020 to develop IBC for Substrate, resulting in ICS10, the Granpa light client. So, I believe this recognition is well deserved.
It was a pleasure working with Louis to complete our article for the Interchain Blog. Cosmos has published our piece “Adaptive IBC: Extending IBC to All Blockchains” and it was shared on Cosmos Interchain Twitter.
Q&A
Q: When will the Octopus 3.0 roadmap be released？
Louis: As a team with 5 years of experience, we take our commitment to the community very seriously. The industry is changing so quickly, and we’re not sure how flexible we’d be if we made the wrong promises.
Our product can be fully transparent to users, but at the same time we need some flexibility to be able to capture the strategic plan. We hope you understand, we will announce the details at the right time to make it a win-win situation!
