u--1: Omni

Omni Network AVS on EigenLayer

Omni Network

Total restaked ($)
info
Total value of restaked assets
:
$2.28B
ETH restaked
info
Total value of restaked assets, denominated in ETH
:
783,913.144
Total operators: 50
Total stakers: 11,807
Weekly rewards
info
Total weekly rewards shared between restakers
:
none

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

Restakeable assets

cbETH (5K), stETH (212K), rETH (13K), wBETH (26K), ETH (534K)

Risk analysis
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
$999M 344K 30.0M
2
EigenYields EigenYields
$468M 161K 7.99M
3
Renzo Renzo
info
Renzo by P2P.org (85K ETH)
Renzo by Luganodes (71K ETH)
$452M 156K 0
4
Kiln Kiln
$186M 64K 20.7M
5
InfStones InfStones
$107M 37K 1.47M
6
Galaxy Galaxy
$104M 36K 28K
7
AltLayer AltLayer
$99.4M 34K 2.46M
8
CoinSummer CoinSummer
info
CoinSummer Labs (32K ETH)
$94.1M 32K 85K
9
HashKey
$60.8M 21K 164K
10
Luganodes
$29.3M 10K 2.87M
11
Allnodes
$16.1M 6K 162K
12
A41
$15.5M 5K 22K
13
Polkachu
$10.1M 3K 49K
14
0Y
$5.73M 2K 152K
15
Pier Two
$4.89M 2K 87K
16
cp0x
$3.23M 1K 217K
17
Staking4All
$3.11M 1K 170K
18
Coinage x DAIC
$2.82M 971 146K
19
01node
$2.43M 835 2K
20
Ankr
$2.34M 806 33K
21
Nodes.Guru [All AVS]
$2.31M 794 389K
22
Digital Asset Management Network
$2.15M 740 24K
23
Everstake
$1.98M 682 74K
24
Blockdaemon
$1.54M 529 87K
25
Finoa
$1.40M 484 80K
26
Cosmostation
$1.12M 386 8K
27
BwareLabs
$1.09M 375 92K
28
dogswithnodes
$641K 221 3K
29
ValiDAO
$617K 213 27K
30
KukisGlobal
$599K 206 4K

Research