Octopus Network Progress Report | Jan 1–31, 2023

MiX

Published in

Omnity Network

5 min readFeb 6, 2023

By MiX

Jan 2023 Highlights

Fusotao has completed the integration of ChainBridge and has implemented native interoperability, allowing for the trading of ETH and ERC20 Token
Atocha 2.0 has released its 2023 Roadmap.
Octopus Network 2.0 is being rebuilt with the singular goal of maximizing the benefits for OCT holders and the Octopus Network community.

The community has focused on discussing recent changes in Octopus Network strategy and details regarding the Octopus 2.0 rebuild will be announced in the second quarter of 2023.

R&D｜Technical Development Progress

Octopus Network & Apps

Optimize Apps UI, including Home page, Appchain page, etc.

Octopus Network Smart Contracts

The Anchor Contract provides secure and cross-chain related functions for the application chain. The Registry Contract primarily manages the entire lifecycle of the application chain.

1、The Anchor contract released v2.4.1, which optimizes the new function, etc.
2、The Registry contract released v3.1.0, which supports the function of calling the Anchor contract when the Octopus DAO publishes a proposal;

Octopus Network IBC

NEAR IBC Module: The core component that implements IBC on NEAR
Substrate IBC: Implements comprehensive interconnectivity between Octopus Appchain, Cosmos, and Polkadot.

NEAR IBC, integration test for the IBC/TAO related Relayer and interfaces of NEAR smart contract.

Octopus Network Bridge

Test the NFT cross-chain function of the EVM compatible Appchain.

Octopus Network Appchain Ecosystem

As of Jan 31, 2023, five Appchains have launched and eight Appchain Candidates are in various stages of development.

The Octopus Network currently operates 5 application chains: Fusotao, Myriad, Atocha, DeBio, and Discovol. There are 8 candidate application chains: UniqueOne, PortalVerse, Attarius, Create Protocol, TrustRecruit, Yogain, Plats, and Horizonland.

Recent key developments of these projects are as follows:

Fusotao Protocol

Fusotao Protocol is DEX infrastructure for building DEXs with trading privacy, minimal gas fees, and lower trading costs.

Fusotao has completed the integration of ChainBridge and has implemented native interoperability, allowing for the trading of ETH and ERC20 Token
Read more…

Myriad.Social

Myriad is a decentralized social network to turn Web2 content into sovereign Web3 data on its app, messenger, and Metaverse.

Danny, the CEO of Myriad, offers his general outlook for 2022 and his predictions for 2023, concentrating on decentralisation and freedom of speech.
Read more…

Atocha Protocol

Atocha Protocol is a decentralized protocol for creating and solving puzzles with prizes.

Atocha 2.0 unveiled its roadmap and priorities for 2023, which will be a year of create, engage and nurture for Atocha.
Read more…

Portalverse Network

PortalVerse is a decentralized cloud gaming network for open and highly immersive virtual worlds (MMOs).

Portalverse and Plyverse have formed a partnership to construct for more revolutionary games.
Read more…

Octopus Network Community Governance

Octopus Network Ecological Data

As of Jan 31, 23:59 UTC:

Total $OCT pledged — 8,360,045
Total annual revenue — $111,741
Total number of validators — 63
Average annualized staking returns —5.6%

Octopus Network Community Call#6

The 6th Octopus DAO Community Call, held on January 8, 2023, covered the specifics of the Octopus 2.0 reconstruction as well as recent revisions to the Octopus Network plan. Details regarding the Octopus 2.0 rebuild will be announced in the second quarter of 2023.

Read more…

Octopus Network — 2022 in Review

2022 was a special year for Octopus Network. It was the first year of Octopus Network’s journey in building a multi-chain ecosystem for application chains. Despite the extremely poor market environment in the entire Web3 industry, we made significant progress in areas such as “ecosystem construction”, “infrastructure optimization”, “community governance”, and “market expansion”. The team’s global collaboration abilities are improving with each passing day.

After a year of practice and exploration, the core team also had many reflections and adjustments. At the end of 2022, the Octopus Network 2.0 reconstruction was launched. With a clearer direction and goals, we are confident in moving forward.

Read more…

Octopus Network Global Influence

Multichain Web3 Infra-Create without Limits

On January 5th, the founder of Octopus Network, Louis, was invited to attend a salon event hosted by NEAR, with the theme “Multichain Web3 Infra-Create without Limits,” focusing on multichain networks and infrastructure communication.

You can listen to the full recording on Twitter Space

Nightshade-How sharding technology will help NEAR stand out in 2023

On January 17th, the founder of the Octopus Network, Louis, was invited to participate in the salon event jointly hosted by 0x499 and BINANCE LIVE, discussing how the Shadow Sharding technology can help NEAR stand out in 2023, and how the Octopus Network can make NEAR a hub of multi-chain networks in the blockchain world, among other topics.