Original author: Shenchao TechFlow
On Christmas Eve, the local dog craze continues.
On December 22, a Meme project called omnicat quietly appeared. Its token OMNI increased by an astonishing 50 times in just 24 hours after the opening of the market, making many pets such as cats, dogs, chickens, and dragons perform well. Memes eclipsed.
The sharp rise in prices quickly attracted attention and also caused the markets focus to shift.
If you search for OMNI on on-chain trading tools such as Dexscreener, you will find a strange phenomenon:
Unlike a certain Meme coin that is parasitic on a single public chain, omnicat has liquidity on almost every mainstream chain. If you look at the contract carefully, you will also find that this is not an omnicat that succeeded on one chain, and then a bunch of plagiarism and imitation disks appeared on other chains; rather, there is an omnicat on each chain called"OMNI"The beginning of the contract.
And the price of OMNI on each chain is almost the same.
Obviously, omnicat is a “full-chain” Meme coin.
Please note that in transaction scenarios, there is an essential difference between full chain and cross-chain. The former does not care which chain and currency you use as gas fee; the latter requires you to transfer assets from one chain to another to buy tokens.
Obviously, the former has higher transaction efficiency and a wider audience. For on-chain Degen, this may be more convenient than using some exchange Web3 wallets to automatically cross chains and calculate gas fees --- see which chain you have more assets on, and youre done.
And if you look further at omnicat’s Twitter account, it even directly writes in the introduction, “We are the first omnichain meme coin and are powered by Layerzero.
The cat image of ominicat looks unremarkable, but it is the first time that Omnichain technology is used to fully cover all ecosystems with Meme coins.
Meme bastards, there are certainly styling and cultural connotation factors behind the popularity; but a Meme is quickly discovered and popular, which also reflects that the market is beginning to buy into narrative transformation:
Full-chain narrative may be about to become popular.
Review what “full chain” is
Speaking of the full chain, some new readers can easily think of full chain games.
In fact, this whole chain is not that whole chain.
Full-chain games refer to placing all the operating logic of the entire game on the chain, in contrast to traditional games where part of the game logic is off-chain.
As for meme coins represented by the above-mentioned omnicat, the entire chain can deploy assets on each chain.
Therefore, for the full-chain game, all means all; for the current omnicat, all means multiple.
Last July, Vitalik mentioned in the Ethereum Forum that the future will be multi-chain, but it will not be cross-chain, because there are basic security restrictions on bridges spanning multiple sovereign zones.
(Related Reading:Vitalik: The future will be multi-chain and pessimistic about cross-chain applications）
The mention of multi-chain actually refers to the interoperability of blockchains, allowing different blockchains to communicate and interact with each other (which can be to send information, metadata and assets from one chain to another).
In order to solve these problems and break down the barriers of cross-chain technology, a form called Omnichain came into being.
Full-chain interoperability builds an interconnected DeFi multi-chain ecosystem by breaking cross-chain restrictions, making all blockchains interoperable, and bringing together EVM and non-EVM compatible chains, thereby unlocking cross-chain Chain composability.
In the technical background of Omnichain, the most well-known one is undoubtedly Layerzero.
LayerZero is a universal basic protocol for data information communication. It transmits information on the chain in a safe and simple way to achieve cross-chain communication between applications. By deploying on the corresponding chain"LayerZero Endpoints"(They are lightweight clients composed of smart contracts with communication, verification and network functions), users can achieve cross-chain communication in a single trustless and secure transaction.
(Related Reading:One article peeks into LayerZeros full-chain ambition: connect thousands of chains and open up everything）
The omnicat official tweet shows that technical support is provided by Layerzero, which is most likely implemented using the above technology.
What other full-chain projects are worthy of attention?
Omnicat has ushered in price discovery, and its skyrocketing price has also allowed the market to re-see the potential of “full-chain narrative”.
In addition to Meme, what other projects using Omnichain technology are worthy of attention?
Metazero: Committed to tokenizing real-life game assets across the entire chain
MetaZero is positioned as an innovative synthetic liquidity layer protocol that aims to tokenize real-world game assets and circulate them on different chains through the technology provided by LayerZero.
The goal of this project is to release players game assets from the framework of the traditional game market and give more value to on-chain transactions.
Take the famous shooting game CS 2 as an example. Currently, the game skins in CS 2 have different qualities, and top-quality skins are expensive, and some can even be sold for six figures.
However, the transaction of this type of game assets is not particularly convenient, and the liquidity is not particularly good. They are generally circulated on the official steam market and third-party trading platforms, and there are different platforms in various countries to provide services.
Using MetaZero, synthetic on-chain versions of these assets can be created that map directly to their off-chain counterparts, using blockchain technology and a thorough identity verification process.
The original assets in the game are actually a kind of RWA. In MetaZeros business process, the value of the assets can be reflected in NFT, making tokenization possible and ultimately breaking the barrier that game assets only flow in local game communities. and opens up the traditional gaming asset market to a larger investment audience.
It can also be seen from its official tweet that MetaZero will also launch ONFT’s Mint next week. Judging from the naming, this type of NFT should also be chain-wide, can be issued on various chains, and correspond to the limited edition firearms and prop skins in the CS 2 game.
In addition, the project’s token MZERO was also launched on Uniswap on December 22. As of press time, MZEROs market value is only about US$7.3 million, and its 24-hour increase has reached an astonishing 85 times.
According to on-chain address monitoring, DWF partner addresses have also recently purchased MZERO.
Omnisea: Full-chain NFT Launchpad
It can be seen from the name that Omnisea actually wants to be another Opensea in the NFT field.
Omnisea is a full-chain NFT Launchpad based on LayerZero and Axelar Network. Creators can issue NFTs that can be cross-chain based on LayerZero on the platform.
At the core level, Omnisea is a full-chain asset creation protocol that can easily deploy ONFT. All NFTs minted through Omnisea use LayerZero cross-chain messaging.
At the same time, the project also created the OmniseaPortal contract: a cross-chain composable and permissionless NFT bridge that supports all existing ERC 721 NFT collections and can easily be integrated by third-party protocols.
The token of the project is OSEA, and the total allocation is as follows: - 55% is the ecological fund (used for governance), 5% is initially unlocked, and the remaining 50% starts to be linearly unlocked after the 2-year lock-up period and continues for 50 years.
- 30% is liquidity (used for pool formation, listing and rewards for OSEA holders), 10% is initially unlocked, and the remaining 20% is unlocked linearly within 5 years.
- 15% is owned by the team, 5% is initially unlocked, and the remaining 10% is unlocked linearly over 2 years.
Judging from the recent performance of the token, the 30-day increase is about 30%, and the market value is only about 470,000 US dollars. Its performance in the recent wave of bull market is not particularly impressive, and OSEA does not support many trading markets. The scale is also subject to certain restrictions.
However, its official tweet shows that the V3 version will be launched soon, supporting seamless transactions of NFTs using different public chains without switching networks; it also supports more assets such as ERC-1155 and ERC-20 standards, and can quickly create NFTs, which may become A good anticipation and catalyst.
Gh 0 stly Gh 0 sts: The first Omnichain NFT
Gh 0 stly Gh 0 sts is the first Omnichain NFT series, powered by Layer Zero Labs. Gh 0 sts across 7 EVM chains: - Ethereum - Arbitrum - Optimism - Binance Smart Chain. Avalanche - Polygon - Fantom.
Regarding the design and cultural core of NFT, the author will not do too much in-depth analysis here.
Gh 0 stly Gh 0 sts is not a new project. Its NFT series was launched in April last year.
However, in the past day or two, its floor price has increased by about 70% and is currently around 0.2 E. At the same time, both transaction volume and sales volume have experienced a significant increase. On the one hand, this may be because Ominicat’s meme token has led the trend of full-chain narrative. On the other hand, we can also see from its official tweet that Layerzero recently mentioned its own token design, and the V2 version is about to be released. .
This may also increase the expectation of holding Gh 0 stly Gh 0 sts to obtain airdrop tokens, or it may also indicate that the market is seeking to hold full-chain concept NFTs to obtain more marketing activity opportunities.
From the recovery of Solana to the pursuit of Avalanche, we can observe that funds and narratives are always rotating on different chains.
Now, the market’s attention has come to the entire chain.
Meme related to the whole chain may be just the beginning. More projects in the whole chain narrative may perform better if they are supported by solid fundamentals.
