u--1: Omni

Omni Network AVS on EigenLayer

Omni Network

Total restaked ($)
info
Total value of restaked assets (excluding EIGEN)
:
$3.22B
ETH restaked
info
Total restaked beacon ETH and LSTs, denominated in ETH
:
912,539.506
Total operators: 50
Total stakers: 92,670

What is Omni Network?

Omni is an Ethereum-native interoperability protocol that establishes low latency communications across Ethereum’s rollup ecosystem. Restaking enables Omni to establish a new precedent for secure, performant, and globally compatible interoperability for the future of Ethereum’s modular ecosystem.

Twitter, Website, Contract, EigenLayer

address: 0xed2f4d90b073128ae6769a9a8d51547b1df766c8

Risk analysis (beta)
risk analysis by tokensight

AVS

Business Model

Dual Staking + Dual Quorum
medium risk

Dual Staking involves moderate risk as it relies on both ETH restakers and OMNI native token stakers, adding complexity to token security and value dynamics. Omni features a Dual Quorum system, where two independent quorums (ETH quorum + Omni quorum) attest to the accurate relaying of messages. Both quorums must be compromised for Omni to fail.

Protocol Security

Code Audits & GitHub Code Coverage
unknown risk

Unknown number of audits performed and unknown GitHub code coverage percentage.

Only disclaimer on protocol security is the setup of a bug bounty program.

view github

Operator Profile

Reputation & Entrenchment Status
high risk

Since we are at the very early stages of EigenLayer, operators' reputation was classified as unknown. Operator's entrenchment level indicates how entrenched Omni's operators are on other AVSs. The small number of AVSs currently live helps exacerbate this risk, in a pooled security context.

All AVSs are assigned a high operator profile risk at this early stage.

view full operator list

Omni Protocol

Execution Layer

Omni EVM Engine Health
low risk

Omni’s EVM integrates an anti-Sybil mechanism to deter against the submission of malicious or spammy transactions. Additionally, it has complete equivalence with external applications, through an ABCI++ integration along Ethereum's Engine API, smoothing out susceptibility to bug issues.

Pursuing transaction encryption on its mempool should be considered for increased security and privacy in XMsg processing.

Relayer

Relayer Security Status
medium risk

The Relayer generates Merkle multi-proofs for efficient XBlock submission and verification. It is fully permissionless once their authenticity is assured by the network, making it a decentralized service. Currently, there is no track record of its decision-making based performance in submitting XMsgs to destination chains.

A DA solution is recommended to address complex verification and increased computational cost of validator signatures and Merkle multi-proofs at scale.

CometBFT Validator Profile

Decentralization & Security Status
medium risk

CometBFT is adopted as the battle-tested, sub-second finality BFT mechanism, ensuring liveness within the network. It uses ABCI++, an advanced version of the Application Blockchain Interface, which supports and improves compatibility with DApps, thereby reducing bug susceptibility and network latency.

TEE, DVT, shared sequencing, and pre-confirmation solutions for more secure XMsg cross-rollup fast-finality would all be worth considering.

Have a question or feedback about AVS risks? Get in touch.

Operators for Omni (top 30)

# operator group TVL ETH EIGEN
1
P2P.org [all AVS] P2P.org
$1.29B 365K 8.22M
2
Renzo Renzo
info
Renzo by P2P.org (88K ETH)
Renzo by Luganodes (88K ETH)
$619M 175K 0
3
EigenYields EigenYields
$608M 172K 11.3M
4
Arthapala Arthapala
$166M 47K 320K
5
CoinSummer Labs CoinSummer Labs
$165M 47K 3.70M
6
AltLayer AltLayer
$161M 46K 5.98M
7
InfStones InfStones
$159M 45K 4.46M
8
Galaxy Galaxy
$157M 45K 1.14M
9
Kiln Kiln
$132M 37K 1.07M
10
HashKey
$49.7M 14K 84K
11
Dashmaster
$33.8M 10K 71K
12
Allnodes
$25.5M 7K 190K
13
0Y
$13.3M 4K 654K
14
Polkachu
$13.2M 4K 15K
15
A41
$9.99M 3K 27K
16
cp0x
$8.25M 2K 634K
17
Pier Two
$7.64M 2K 76K
18
DAIC
$3.70M 1K 136K
19
Finoa
$3.33M 946 112K
20
01node
$2.94M 833 5K
21
Everstake
$2.87M 814 103K
22
Staking4All
$2.86M 810 179K
23
Ebunker
$2.83M 801 597
24
Digital Asset Management Network
$2.57M 728 16K
25
Ankr
$2.25M 638 28K
26
Nodes.Guru [All AVS]
$1.89M 535 462K
27
Memecoins outmatch DA
$1.81M 513 81K
28
Luganodes
$1.74M 495 65K
29
Blockdaemon
$1.41M 399 2K

Research