Letter to OmniBTC Users

Congratulations to OmniBTC for winning the 34th Polkadot Slot and 617 users who participated in the auction

With the unremitting efforts of 617 bidders, OmniBTC won the 34th slot of Polkadot. Here, we celebrate again.

Why does OmniBTC take Polkadot slot?

  • 1, OmniBTC focuses on in the "omnichain financial application interactive interconnection, liquidity sharing", and Polkadot is a top-ranked Layer1 public chain, which is naturally one of the public chains we want to plan and deploy.
  • 2, OmniBTC is a "omnichain finance" project initiated by the founding team of ChainX. It upholds the dream of ChainX and expands the business of ChainX. It also fulfills the expectations that ChainX community users have been calling for, namely: to help the the first Substrate-based public ChainX bids to get the slot of the Polkadot parachain.

How to plan the Polkadot slot captured by OmniBTC?

The dilemma of DOT:

  • 1, The narrative of the old "Internet of Ten Thousand Chains" has been lost. Everyone has already seen that DOT is only applicable to the substrate series and the parallel chains of dot slots can be interconnected through the XCMP protocol.
  • 2, The parachain has become a homogeneous EVM/WASM contract technology public chain, which cannot be innovatively developed. Each parachain is a copy of another parachain. Or simple applications such as staking logic and oracle machines also need to auction a parachain slot, which is simply a sledgehammer.
  • 3, For the older generation of DOT holders, the interests of the collective are gradually solidified, so they are lifeless.

How does OmniBTC help DOT break out of the above predicament.

  • 1, In view of the limitations of "DOT's homogeneous token cross-chain", OmniBTC helps Polkadot get rid of the current "homogeneous token XCMP cross-chain model", and helps DOT ecological projects cross-chain integration into EVM public Chains (such as ethereum, BSC, polygon, avax, arb, op, etc.), Move-based public chains (such as Aptos, Sui), and even future Cosmos public chains.
  • 2, In response to the lack of innovation in the homogeneous parachain model on DOT, OmniBTC will work with ChainX to develop a parachain compatible with various smart contract platforms such as MoveVM, EVM, and WASM. And it will implement BTC Lightning Network contract programming on this parachain, and even Ethereum’s Rollup technology, so that Polkadot can rollup to Ethereum through this parachain, and be compatible with Ethereum.
  • 3, For the interest-solidified groups on DOT, OmniBTC will conduct three rounds of large-scale financing in order to join the most energetic VC and capital into the game, bring new capital to replace the old money in the DOT era, and complete the new blood circulation.

OmniBTC Products

  • 1, OmniSwap, supports one-click swap between 7 chains including ETH, BNB, Polygon, aavax, arbitrum, optimism, and Aptos and aggregate DEX within a single chain exchange.
  • 2, BTC Bridge, supports BTC cross-chain to Aptos network, and uses the BTC distributed key technology implemented by the ChainX chain to host BTC.
  • 3, [AMM Swap], support Aptos, AMM pool and exchange of Sui network. Open source code: AptosAMMSwap, SuiAMMSwap.
  • 4, Omnichain liquidity aggregation protocol [Dola white paper] (https://github.com/OmniBTC/DOLA-Protocol/tree/main/cn), DOLA Protocol is based on the single currency pool of each public chain, with Wormhole, Layerzero and other cross-chain message protocols are used as bridges, and the Sui public chain is used as a settlement center for the whole chain liquidity aggregation protocol. The single currency pool of each public chain allows users on any chain to provide liquidity for the protocol. Open Source Code.
  • 5, Omnichain lending, supports chain A to mortgage the original tokens of chain A to lend out the native tokens of chain B. For example: lock the BTC mortgage in the lightning network contract, and lend stable coins such as USDC in the Ethereum network.
  • 6, The newly acquired DOT parachain serves as a bridge for DOT to interact with other external chains (Layer1, Layer2), and also supports various contract platforms such as EVM, MoveVM, WASM, etc., to facilitate user development.
  • 7, SoSwap, the first test version.

OmniBTC Market

Three rounds of financing are planned, and the first round of financing is in progress.
The total number of tokens is 21 million, 40% of which is used for VC financing, 50% of which belongs to the community, and 10% of which belongs to the development team.
Tokens already planned for distribution:
The first testnet dex SoSwap has a total of 210,000 So coins, accounting for 1/100 of the total share of OmniBTC.
OmniBTC bids for the slot, and each dot rewards 0.33 So coins. There are a total of 53,427 DOTs, and 17,631 OmniBTCs need to be allocated, which means that 0.084% of OB needs to be spent.
To sum up: The tokens paid by OmniBTC are: 1.084%, allocated from 50% of the community share, that is, the remaining 48.916% of the total token incentive quota allocated by the community.
We welcome the strong support and development of the community.

Operation of OmniBTC

OmniSwap currently has about 1,000 omnichain exchange transactions per day.

  • Establish a partnership with each supported Layer1 and Layer2 development team and community, and promote the prosperity of the whole chain.
  • Establish partnerships with cross-chain interoperability protocols such as Wormhole and LayerZero to jointly promote the prosperity of the entire chain.
  • Reach a partnership with the Defi Dapp on each chain, aggregate the Defi liquidity pools on each chain, so that users on all chains can easily share the liquidity pool with each other. Breaking the constraints of single-chain liquidity and single-chain Dapp liquidity.

Our vision

Let DeFi not only be safer and more trustworthy than CEX, but also make DeFi having a better user experience than CEX