By @MiX
April 2023 Highlights
- On April 14th, Octopus Network, a Near-based multi-chain network that provides shared security, interoperability & community for Web3 startups, unveils its core plan on Octopus 2.0.
Its founder Louis , who was invited by Near as one of the keynote speakers at the HK Web3 Festival, shared details on Octopus 2.0 that include “$NEAR Restaking” and “Adaptive IBC”. - Louis：NEAR will be a Cosmos zone SOON
- Octopus Network plans to integrate its accelerator and developer training into Cosmos HK Accelerator, to more efficiently cultivate and discover potential application chain projects and teams.
- Fusotao has completed Milestone 1 for 2023, which is the construction of “The Decentralized Brokers”
R&D｜Technical Development Progress
Octopus Network & Apps
1、Update Apps: fix the issue of Delegator Rewards
2、The design of the Octopus Network 2.0 launch process
Octopus Network 2.0 Smart Contracts
1、Design the LPoS Market contract
2、Improve the design of the Restaking Base contract
Octopus Network 2.0 Bridge
1、Completed the IC integration for Tendermint light client
2、Completed the test for ICP Relayer on the Testnet
Octopus Network 2.0 IBC
NEAR IBC, completed the implementation for ICS 20
Octopus Network Appchain Ecosystem
Five Appchains have launched and eight Appchain Candidates are in various stages of development.
The Octopus Network currently operates 5 Appchains: Fusotao, Myriad, Atocha, DeBio, and Discovol. There are 8 candidate Appchains: UniqueOne, PortalVerse, Attarius, Create Protocol, TrustRecruit, Yogain, Plats, and Horizonland.
Recent key developments of these projects are as follows:
Fusotao Protocol
Fusotao Protocol is DEX infrastructure for building DEXs with trading privacy, minimal gas fees, and lower trading costs.
Fusotao has completed Milestone 1 for 2023, which is the construction of “The Decentralized Brokers”
Next milestone: changing the trading rewards to marketing rewards, the fundament of Delegated Marketing Maker.
Octopus Network Community Governance
Octopus Network Ecological Data
As of April 30, 23:59 UTC:
- Total $OCT pledged — 8,814,356
- Total annual revenue — $161,164
- Total number of validators — 61
- Average annualized staking returns — 9.1%
Octopus Network Community Call#9
The 9th Octopus DAO Community Call, held on April 8, 2023.
Octopus 2.0 = $Near Restaking + Adaptive IBC.
Octopus V2 offers two different services. The first is pure interoperability, which allows Near to connect to many different blockchains. However, $OCT token holders will not capture value directly from all of these IBC connections. This offering is aimed at making the Octopus protocol more important for Near and other blockchains, and making Octopus an essential part of the Internet of blockchain. We can expect increased awareness and reputation for Octopus Network.
The other offering, shared security, will capture enormous value for $OCT holders. Many blockchains have established their own consensus and security measures, mostly based on POS, and some even based on POW. These are bigger markets and can not be addressed by shared security, but they can be addressed with the pure interoperability offering. For emerging new blockchains, the goal is to convince them that Octopus shared security is the most cost-effective and flexible option that they can rely on.
Regarding the second offering, three blockchain projects are showing a strong intention to launch with Octopus shared security, but it is not yet appropriate to mention their names. All of these projects have valuations of several dozen millions and have enough capital to support their long-term operation. This is a good start for the business development of Octopus 2.0.
Octopus Network Global Influence
Meet Octopus @HK Web3 Festival
NEAR, Octopus Network, and Aurora are working together to drive Web3 innovation in Hong Kong!
At the highly anticipated 2023 Hong Kong Web3 Carnival, Octopus Network founder Louis shared on topics such as shared security based on blockchain multi-chain future, IBC cross-chain, etc. in four major events and several small events and circle exchanges. He also provided a full introduction to the architecture and mechanism design of Octopus Network 2.0.
ForesightX｜Interchain Panel
On April 11th, Octopus Network founder Louis was invited to discuss cross-chain interoperability with HashKey’s Jeffrey Hu at the OpenBuild ForesightX hacker house, specifically focusing on IBC.
Cosmos HK Meetup
On April 13th, Octopus Network founder Louis gave a public speech titled “NEAR will be a Cosmos zone SOON” at the Cosmos HK Meetup, co-hosted by Boundary Intelligence, IBCL, Octopus Network, and ND Labs. His speech focused on why IBC has not yet dominated the cross-chain field and how Octopus Network can achieve cross-chain between NEAR and Cosmos, showcasing the solution and principles of the new technology route Adaptive IBC.
Octopus 2.0 is unveiled at the HK Web3 Festival.
On April 14th, Octopus Network, a Near-based multi-chain network that provides shared security, interoperability & community for Web3 startups, unveils its core plan on Octopus 2.0.
Its founder Louis , who was invited by Near as one of the keynote speakers at the HK Web3 Festival, shared details on Octopus 2.0 that include “$NEAR Restaking” and “Adaptive IBC”.
Panel |Cosmos Interchain Session
On April 15th, Octopus Network founder Louis was invited to host a roundtable on the theme of “Interchain Tools and Services for Better User Experience” at the “Cross-Chain Special Session of the 2023 Hong Kong Web3 Carnival,” jointly hosted by Boundary Intelligence, the Cosmos Cross-Chain Foundation ICF, Wanxiang Blockchain Lab, and HashKey Group.
Cosmos HK Accelerator is officially established.
On April 15th, Cosmos HK Accelerator (CHA) was officially established, initiated by Boundary Intelligence, IBCL and Octopus Network, with participation from ND Labs, Waterdrip, Forbole, and Likecoin.
CHA aims to provide comprehensive services for Cosmos technology and ecosystem development, including the latest information on technology incubation and entrepreneurship projects, through daily meetups, ecological summits, Cosmos SDK training, and Cosmos hackathons, in collaboration with Cosmos Official, media, community, and developers, serving the entire Chinese and Asia-Pacific region.
Octopus Network plans to integrate its accelerator and developer training into Cosmos HK Accelerator for more efficient cultivation and discovery of potential application chain projects and teams. One of the focuses of Octopus Network 2.0 is to provide IBC+shared security services for application chains, which will enable Octopus Network to enter a larger and faster-growing market.
GPTDAO｜GPT + Web3
On April 9th, Octopus Network’s Vivi was invited by GPTDAO to host a discussion on the opportunities and challenges of combining GPT and Web3.
You can listen to the full recording on Twitter Space.
Exclusive Interview | Web3 & AI
On April 12th, Octopus Network’s Vivi was invited to discuss the intersection of Web3 and AI and the future of their ecosystem at WomenWeb3Wednesday.
You can listen to the full recording on Twitter Space.
Crypto&Web3 Networking Iftar Meetup
On April 14th, as one of the sponsors of the Istanbul Crypto&Web3 Iftar Meetup, Octopus Network invited Aaron to attend the event and exchange ideas with multiple projects.
Crypto&Web3 Networking Iftar Meetup
On April 14th, as one of the sponsors of the Istanbul Crypto&Web3 Iftar Meetup, Octopus Network invited Aaron to attend the event and exchange ideas with multiple projects.
Accelerator Showcase #3: Aridia
On April 3rd, Octopus Accelerator held a Showcase#3 Twitter Space for Aridia.
You can listen to the full recording on Twitter Space.
Disclaimer: This article is for reference only and should not be used as legal, tax, investment, financial or any other advice.
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Email: hi@oct.network
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Octopus Network Progress Report | April 1–30, 2023 was originally published in Octopus Network on Medium, where people are continuing the conversation by highlighting and responding to this story.