Omnity Monthly Progress Report | 2024.4.1–4.30
Summary
- Octopus officially announces upgrade to Omnity.
- Omnity officially launched on April 28th with the cross-chain transfer of Runes assets between BTC and ICP.
- To celebrate the launch of Omnity, the HOPE-YOU-GET-RICH Runes (#431) and the Red Envelope app showcases how Omnity’s seamless, invisible hub can quickly expose a large number of users to cross-chain services.
- Omnity was invited to participate in many events of the 2024 Hong Kong Web3 Festival where Omnity’s cross-chain capability attracted a lot of attention.
- Omnity to co-host Runes Asia 2024 on May 9th.
Technology: Research and Development
1. Completed the launch of Omnity on April 28th. Before that, bugs encountered in testing were fixed, enabling the transfer of Runes assets across chains between BTC and ICP.
2. Omnity developed and launched the Telegram Red Envelope bot, which sends Runes across the chain to ICP, to commemorate Omnity’s launch on April 28th.
3. A Swap application on ICP is being developed to help swap Runes assets coming across the chain through Omnity.
Community Governance
Octopus 2.0 $NEAR Restaking:
As of April 30, 23:59 UTC
- $NEAR Restaking total pledge amount: 901,1752
- Average pledge annualized yield: 8.55%
- Number of Validators: 84
- Number of Delegators: 189
Omnity Community Call #20
Octopus officially announces its upgrade to Omnity — All in Bitcoin
The hottest topic during ETHDenver 2024 in February revolved around the Bitcoin ecosystem. In April, the same thing happened in Hong Kong.
Omnity sponsored the “New Asset Issuance and Settlement on Bitcoin New Asset Issuance and Settlement” theme salon hosted by Bitcoin Settlement Lab. This event was launched hastily, but the participation rate exceeded expectations!
The overwhelming recognition by participants of Omnity’s potential to contribute to the Bitcoin ecosystem made it quite clear that more resources should be contributed to developing solutions for Bitcoin.
Therefore, Octopus Network has been officially upgraded to Omnity Network, All in Bitcoin.
Omnity aims to be the liquidity and security hub for the Bitcoin ecosystem. It has built the world’s first 100% fully on-chain BTC asset cross-chain service to share Bitcoin’s trillion-level security with more blockchains based on BTC Staking.
Louis Announces the Launch of the Red Envelope Runes Application
HOPE-YOU-GET-RICH was the first cross-chain Runes asset supported by Omnity and the Red Envelope applet on Telegram.
Louis discusses the launch and vision of Red Envelope:
On April 28, 2024, Rune #431, HOPE-YOU-GET-RICH 🧧, was born. Our bit of silver even squeezed into the first block after the halving, permanently inscribing the #431 Rune with four big words, “HOPE-YOU-GET-RICH.”
We started to send out Red Envelope Runes in Omnity and @RunesCC in just two groups. The response was unprecedented, in a word: robbed like crazy!
On the first day of the Red Envelope launch, the bot created 1200 ICP-hosted wallets and sent an average of 10 blockchain transactions per wallet. To be honest, this number was lower than I expected, and I later found out it was because people’s hands were just too fast!
The next day I upgraded the system and increased the red packets from a maximum of 255 to 1,000 so that even those with slow hands could have a chance to get their hands on the Red Envelopes.
The Red Envelope bot is currently only capable of transferring runes between ICP addresses, but will soon support cross-chain transfers back to the Bitcoin network, as well as integration with AMM DEX, which supports $ICP/Rune swaps, making it the easiest way on the internet to acquire and share Runes:
A User only has to enter a Telegram group to grab a Red Envelope of Runes without a wallet or the need to hold any assets. If you need to transfer them back to the Bitcoin network, you can exchange them for ICP and pay the small cross-chain fee. However, very soon, Runes can be transferred directly to Bitcoin L2, so stay tuned.
Rune #431, HOPE-YOU-GET-RICH has a month open mint, probably until the May 20 deadline. Friends who want to send red envelopes are advised to play a little bit of their own but also to save and use slowly. In less than three weeks, you will have to go to the exchange to buy these.
Each Red Envelope can also carry a small paragraph of text, including hyperlinks, similar to sending tweets. So Red Envelopes can not only liven up the atmosphere but also be an effective and interesting marketing tool.
Omnity wishes you all happy sending and grabbing Red Envelopes!
Omnity Global Reach
From April 6th to April 9th, Hong Kong time, Omnity was invited to participate in the 2024 Hong Kong Web3 Festival and introduced Omnity to everyone at the main venue.
On the afternoon of April 7, Louis was invited to participate in the “New Asset Issuance and Settlement on Bitcoin Issuance and Settlement of New Assets” theme salon hosted by Bitcoin Settlement Lab and gave a keynote speech “Trustless Cross-Chain: Opening up Bitcoin Asset Settlement and Settlement Execution”, introducing the value and significance of cross-chain Runes assets to the BTC community in depth.
On April 8, Louis was invited to participate in the ICP Hacker House event held by ICP in Hong Kong, as a panel speaker to discuss the theme of “Unleashing the Potential: Insights from ICP Projects”.
Omnity Releases Preliminary Protocol Video
On April 9, Hong Kong time, Omnity released the theme video
Unveiling Omnity: Bridging Blockchain Worlds with Seamless Interoperability
Join Vivi Lin as she introduces Omnity, the groundbreaking omni-chain interoperability protocol built on the Internet Computer.
Discover how Omnity revolutionizes cross-chain transactions, offering a trustless, decentralized solution for seamless asset transfers. Learn about Omnity’s journey with ICP, its mission to connect diverse blockchains, and its collaboration with Runes to enhance Bitcoin’s functionality.
Explore the potential for the ICP community and developers with Omnity’s powerful features. Don’t miss out on this exciting revolution in blockchain technology!
Watch the video here:
Louis Invited to Share at ICP’s Halving Live Townhall
On April 19th, Louis discusses Omnity’s technology and vision for all-chain cross-chaining, Omnity’s application of ICP’s technology, and Omnity’s long-term critical value to ICP.
Watch Louis’ interview here:
Louis Invited to ICP Global Townhall
On April 26th, Louis was officially invited by ICP to participate in the 1st ICP Global Townhall to share why ICP is the best companion blockchain for Bitcoin and how Omnity is a key hub in this. You can listen to the Spaces recording here.
Louis invited to DFINITY’s Chain Fusion Live!
On April 30th, Louis shared how Omnity enables interoperability for Bitcoin’s Runes tokens with cross-chain support for more token standards ahead.
Louis introduces how to seamlessly mint and bridge Runes from BTC to ICP and the Red Envelope app. He also deep dives into the future mission of Omnity and the immense potential it has to become the liquidity and security hub for the Bitcoin Ecosystem.
Watch the full interview here:
Omnity Co-Organizes Runes Asia 2024
Runes Asia 2024, the world’s first summit focusing on Runes protocol technology and ecological development, will not only be the most important part of Bitcoin Asia 2024 but also the largest and most diverse Runes event this year.
Time: May 9, 2024, Full Day
Venue: Hong Kong: Kai Tak Cruise Terminal, Level 2, N205 to N206
Stay Tuned and Follow Omnity!
- Website: https://www.omnity.network/
- Twitter: https://twitter.com/OmnityNetwork
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- Youtube: https://www.youtube.com/@OmnityNetwork
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