Liquid restaking involves securing additional yield, or rewards, on natively staked ether. Ether.fi currently offers 3.92% and loyalty points across EigenLayer. The points will eventually be convertible to token airdrops. The liquid restaking market has soared since December, with EigenLayer’s total value locked (TVL) rising to $10 billion from $250 million, data from DefiLlama shows. Source
“Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USDT on other blockchains. This led many exchanges to favor alternative transport layers, leading to a decline in USDT usage on Bitcoin using the Omni Layer,” Tether said in the announcement. Original
The Omni network aims to enable use cases including cross-rollup stablecoins and other DeFi primitives that can aggregate liquidity from different Layer 2 rollups. Blockchain development firm Recursive introduced the Omni Network, a cross-rollup protocol built on the Ethereum restaking project Eigen Layer. The Omni network aims to be the first generalized cross-rollup infrastructure protocol tapping on Ethereum’s vast security infrastructure. Notably, the Omni network facilitates communication between Layer Two rollups while deriving security from the Ethereum mainnet. Recursive and Omni Network Recursive, previously called Ruft, raised about $18 million…
Place/Date: – September 28th, 2020 at 10:11 pm UTC · 4 min read Contact: Manny Hernandez, Source: Omni In 2020’s lightning-paced media landscape, and in response to current untapped technological opportunities, it’s imperative to innovate. The giants of today, and indeed yesterday, have all brought something unique to the table – from Facebook’s often-touted “7 circle of separation”, to Instagram’s feed, and now TikTok’s viral video-based success, unicorn status comes from breaking the mold and providing something nobody else has thought of. Gamification: The Golden Goose in a Market Begging…
Tether, the stablecoin operator behind USDT, has funded the development of the new version of Bitcoin (BTC) tokenization layer Omni. In a press release shared with Cointelegraph on Dec. 15, the companies announce the release of Omni Core 0.7.0, the development of which was sponsored by Tether. The new version reportedly enhances network performance and fixes locking issues and Remote Procedure Calls. The Omni protocol is a system running on the Bitcoin network that allows the creation of tokens on what is widely believed to be a secure network. Omni…
Updated 20:00 UTC, Nov. 26: This article has been updated to include comments from Omni Rentals that Cointelegraph received after initial publication. Omni Rentals, a $35 million-funded storage and rental startup backed by major crypto firm Ripple, is reportedly shutting down its operations. As Omni is expecting to close its platform by the end of 2019, about 10 of Omni’s engineers will be hired by major American crypto exchange and wallet service Coinbase, tech-focused publication TechCrunch reports Nov. 25. Omni had not made an official closure announcement at press time,…
Digital rentals marketplace Omni is shutting up shop, with Coinbase agreeing a deal to take on its engineers. Source
Major cryptocurrency exchange Binance has announced that it is switching from Omni-based addresses to ERC-20-based addresses in customer wallets for the stablecoin tether (USDT), according to an official announcement on July 3. In order to make the switch, Binance says that there is a 30-minute downtime planned for USDT withdrawals and deposits on July 4, beginning at 08:00 a.m. (UTC). The announcement notes that Ethereum’s ERC-20 based addresses will be the standard from now on, and exchange users will not be able to withdraw Omni-based USDT; however, Omni-based USDT can…
Ripple is on a partnership spree. Perhaps that’s why there are a lot of fundamental developments propping XRP as a viable investment. From Coil, Omni and news of The Bill and Melinda Gate Foundation probable use of the RippleNet as they deploy Mojaloop, the foundation is set for XRP. On a technical front, prices are stable and bullish from a top down approach. Therefore, despite the recent lower lows, bulls stand a chance and could edge higher in days to come. Latest Ripple News Ripple as a company has an…
Tether (USDT), the eighth-largest cryptocurrency and the second most-traded coin behind bitcoin, is functioning as normal following an incident with the engine that feeds data from the underlying Omni protocol to the platform’s hosted node services. For approximately eight hours on Monday, tether transactions appeared to be frozen, and in fact were — at least for the many users who do not operate full nodes. The USD-pegged stablecoin, which its issuer says is backed by physical dollars stored in company-controlled bank accounts, operates as a token on top of the…