Octopus Network Monthly Report | 2024.3.1–3.31
Summary
- Omnity successfully implements cross-chaining Bitcoin <> ICP.
- Octopus and Eigenlayer initiate formal collaboration: Substrate Meta AVS completes design and begins development.
- Octopus to present the value and advantages of Omnity to the ICP and Bitcoin ecosystems at the 2024 Hong Kong Web3 Carnival from April 6th–9th, 2024.
Tech Updates
Omnity
Omnity has successfully implemented the core function of cross-chaining Bitcoin <> ICP. The code is currently being audited.
Omnity is preparing to launch cross-chain support for Runes assets — the first Bitcoin asset to cross the Omnity bridge to the Internet Computer. This involves tracking the progress of the Runes protocol iteration on Bitcoin, indexing its data, and initiating the development and testing of the Runes asset casting function.
Octopus 3.0 (Substrate Meta AVS for $ETH Restaking)
The Octopus 3.0 ETH Restaking design, Substrate Meta AVS, has been completed. Development has been initiated for those Substrate appchains electing to leverage the decentralized trust of Ethereum collective restaking.
Governance
$NEAR Restaking:
As of March 31, 23:59 UTC
- Total staked amount for $NEAR Restaking: 939,652
- Average staking annual return rate: 10.02%
- Number of Validators: 8
- Number of Delegators: 203
Summary DAO Community Call #19
On March 8th, the Octopus Network community gathered for its 19th Community Call. Topics of discussion were focused on the following:
- $NEAR Restaking ranked second on DefiLlama as of March 8, 2024, behind Eigenlayer in the Restaking category.
- Eigenlayer $ETH Restaking project is a go. It’s a great offering for Substrate appchains on Octopus Network because they have the option of joining the Ethereum ecosystem to enjoy a substantial amount of shared security from Ethereum in a very cost-effective manner.
- Omnity — the first fully trustless omni-chain interoperability stack that could potentially connect all blockchains — will connect Bitcoin first. Omnity’s upcoming launch in April upon the Bitcoin Halving has been recognized by Dfinity C-Suite and the ICP Community.
The combination of the new infrastructure in the Octopus toolbox, $ETH Restaking and Omnity, allows us to provide solutions to two of the biggest problems facing application chains today — security and interoperability. If these two issues are properly addressed, application chains can take much better advantage of their customizability. Read more…
Octopus Global Impact
Honk Kong Web3 Festival 2024
From April 6th-9th, Octopus Network will participate in the 2024 Hong Kong Web3 Carnival to introduce Omnity and its significance to the ICP ecosystem; and in the Core Circle of Bitcoin’s New Asset Ecosystem to introduce the Bitcoin community to the immense value of Omnity’s cross-chain for the application of Bitcoin’s new assets.
ICP Hacker House, Hong Kong, April 8th, 2024
Louis has been invited to speak on “Unleashing the Potential: Insights from ICP Projects” at the ICP Hacker House event during the Hong Kong Web3 Festival 2024.
New Asset Issuance and Settlement on Bitcoin Salon, Hong Kong, April 7th, 2024
Louis will give a keynote speech titled “Trustless Cross-Chain: Bridging the Gap between Settlement and Enforcement,” to introduce the value and significance of the Runes asset cross-chain to the BTC community, in the New Asset Issuance and Settlement on Bitcoin Salon hosted by Bitcoin Settlement Lab.
ICP Interviews Omnity at ETHDenver, March, 2024
Vivi was interviewed by Kyle Langham, Director of Data and Analytics for Dfinity, during ETHDenver. Discover how Omnity, Octopus Network’s fully trustless omnichain protocol on ICP, is paving the way for seamless data transfer between chains.
Bay Area Founders Club, Silicon Valley, CA, March 12th, 2024
Vivi hosted a roundtable at an ETH Denver Afterparty for the president of Bay Area Founders Club to share thoughts with Silicon Valley colleagues on Web3 primitives, such as shared security and cross-chaining, and Web3 & AI.
JustCrypto Interview, March 20th, 2024
Don’t miss Sheldon’s discussion of Octopus Network’s years of exploration in the direction of multi-chain networks and the reality of constructing the multi-chain future.
Disclaimer: This article is for reference only and should not be used as legal, tax, investment, financial or any other advice.
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