u--1: Omni

Omni Network AVS on EigenLayer

Omni Network

Total restaked ($)
info
Total value of restaked assets (excluding EIGEN)
:
$1.89B
ETH restaked
info
Total restaked beacon ETH and LSTs, denominated in ETH
:
711,894.658
Total operators: 50
Total stakers: 11,937
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

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
$744M 280K 19.8M
2
EigenYields EigenYields
$413M 155K 8.96M
3
Renzo Renzo
info
Renzo by P2P.org (61K ETH)
Renzo by Luganodes (46K ETH)
$283M 107K 0
4
Kiln Kiln
$110M 41K 20.1M
5
InfStones InfStones
$97.7M 37K 1.42M
6
CoinSummer Labs CoinSummer Labs
$96.4M 36K 86K
7
Galaxy Galaxy
$95.2M 36K 32K
8
AltLayer AltLayer
$86.5M 33K 2.32M
9
HashKey
$45.6M 17K 148K
10
Luganodes
$18.0M 7K 2.86M
11
Allnodes
$16.1M 6K 233K
12
A41
$14.3M 5K 18K
13
Polkachu
$9.18M 3K 40K
14
0Y
$6.73M 3K 477K
15
Pier Two
$4.20M 2K 95K
16
cp0x
$3.53M 1K 214K
17
Finoa
$2.52M 950 80K
18
Staking4All
$2.34M 882 166K
19
01node
$2.21M 833 3K
20
DAIC
$2.11M 795 142K
21
Ankr
$2.04M 770 22K
22
Digital Asset Management Network
$1.89M 714 24K
23
Everstake
$1.70M 640 69K
24
Blockdaemon
$1.14M 432 88K
25
Cosmostation
$985K 371 9K
26
Nodes.Guru [All AVS]
$978K 368 369K
27
BwareLabs
$717K 270 85K
28
MK NODE
$596K 225 817
29
dogswithnodes
$576K 217 3K
30
KukisGlobal
$523K 197 3K

Research