The Development of Computing and Wallets in the Web3 World

The emergence of smart contracts has sparked people's imagination to build a global computer. Various decentralized applications have sprung up like mushrooms after rain, covering multiple fields such as trading, lending, gaming, and NFTs. The security of blockchain and the convenience of smart contracts have greatly simplified on-chain development, and various applications can also be combined through smart contracts.

As of August 2022, the number of decentralized applications on various public chains has exceeded 4,000, and it continues to grow at a rate of several dozen each month.

An address is the basic unit for users to interact with smart contracts. Blockchain addresses are completely anonymous, requiring no KYC, and users can freely create and manage multiple addresses. Having an on-chain address is the key to truly entering the world of cryptocurrency. According to official Ethereum data, as of August 2022, the cumulative number of addresses has exceeded 200 million, with an average daily transaction volume of over 1 million.

Blockchain and smart contracts enable users to truly control their data and assets, which is also the most important feature of Web3. The Wallet is the core tool for managing these assets and data, and can be said to be the gateway to the Web3 world. As the most important infrastructure in the crypto space, Wallet encompasses all on-chain asset-related operations, including buying, selling, holding, transferring cryptocurrencies, as well as staking and other derivative operations.

From the development history, wallets can be roughly divided into several categories: paper wallets/brain wallets, hardware wallets, and software wallets. For most users participating in DeFi, NFT trading, and gaming, software wallets are the most widely used solution. Taking the currently most popular software wallet, Metamask, as an example, the monthly active users have exceeded 30 million. After installation, users will receive a mnemonic phrase consisting of 12 or 24 ordered English words for account recovery and migration.

For new users in cryptocurrency, properly safeguarding the mnemonic phrase is the most important first lesson. One of the costs of decentralization is that users need to be responsible for their own accounts and Wallets, as there is no centralized institution to help "recover passwords". Once the mnemonic phrase is in the hands of others, the user's Wallet is essentially handed over. After familiarizing themselves with Wallet security practices, users can begin to explore the vast world of Web3. Among the many software Wallets, how do we define a "good" Wallet? We can seek answers from the current trends and hotspots in the crypto world.

The Arrival of the Multi-Chain Era

The DeFi boom in 2020 and the rise of GameFi in 2021 attracted a large amount of capital into the blockchain. Ethereum sacrificed speed while ensuring decentralization and security, and the surge in computing power also led to skyrocketing transaction fees, making it difficult for small users to bear the trading costs. To reduce costs and increase speed, multiple public chains have rapidly emerged, changing the landscape dominated by Ethereum.

From Ethereum-based Layer 2 solutions like Polygon to exchange-dominated public chains like Binance Chain and Solana, and then to EVM-compatible chains like Fantom and Avalanche. Although many innovative applications were initially based on Ethereum, EVM makes migration very easy. Data shows that based on the number of active addresses over seven days, the top five public chains are BNB Chain, Ethereum, Polygon, Ronin, and Avalanche, with BNB Chain having 2.94 million active addresses due to its game-friendliness.

In terms of total locked value in DeFi, Ethereum still holds an absolute dominant position, accounting for more than half of the share, but this proportion is gradually declining. A situation of one strong player and many others has formed, and users hope to conveniently manage multi-chain assets and achieve cross-chain operations.

Staking Becomes Mainstream

The PoW consensus mechanism of Bitcoin has long been criticized for resource waste. To address this issue, PoS was innovatively proposed and quickly became mainstream among various new public chains. Ethereum will also complete its transition to PoS in September 2022. Ordinary users can participate by staking a small amount of tokens through DPoS or SaaS platforms like Lido, without needing to stake a large amount of tokens to become a validator.

Staking is becoming the most convenient way for ordinary users to enter the new public chain. While users participate in staking to ensure the secure operation of the blockchain, they also receive rewards. Therefore, the security and experience of staking are also important factors for users when choosing a new PoS public chain.

One-stop entry for Web3

Although the combinations of DeFi building blocks are dazzling, DeFi is just one application scenario in the vast Web3 world. DAO, gaming, metaverse, and more scenarios yet to be imagined and created will together form the picture of future Web3. Today, more than 50 years after the birth of the internet, few industries can continuously emerge with exciting knowledge, technology, and demand like Web3.

In the Web3 era, traditional "logging in with Google account" + "logging in with Facebook account" + "logging in with WeChat account" will all be replaced by Wallet login. It can be said that Wallet is the first entry point to the Web3 world. In the rapidly changing Web3 industry, users need a one-stop Wallet that allows them to directly explore and access various applications.

Omni: Build a One-Stop Super Application for Web3

The Omni Wallet is designed to meet users' needs for a seamless multi-chain experience, convenient staking channels, and exploration of the Web3 world. In addition, Omni features an extremely beautiful user interface. Omni also supports basic functions such as fiat deposits from mainstream wallets, wallet imports, hardware wallet connections, and asset price displays.

Compared to mainstream wallets like Metamask, Token Pocket, and Trust Wallet, Omni has unique advantages in multi-chain support, NFT display, staking functions, and browser capabilities.

Multi-chain Asset Management

After installing Omni, users can create a new Wallet, import an existing Wallet, or observe others' addresses. Importing a Wallet only requires selecting the original Wallet and pasting the mnemonic phrase. To ensure the highest security, Omni also supports hardware Wallet connections.

After entering the Wallet, the Omni homepage displays users' multi-chain assets, ENS domains, as well as buttons for direct access to the staking entrance and multiple applications. Omni supports over 25 public chains, including EVM-compatible chains such as Ethereum, Avalanche, BNB Chain, non-EVM chains like Solana, Near, and Cosmos, as well as Layer 2 solutions like Polygon, Arbitrum, Optimism, and StarkNet.

Omni supports the display of NFTs on multiple public chains, allowing users to view all NFTs in one place, and even set their favorite NFTs as their home screen background.

Omni collaborates with Ramp to support direct purchases of cryptocurrencies through debit and credit cards. As a multi-chain Wallet, Omni also supports native cross-chain bridges, allowing users to convert assets between different EVM chains, as well as non-EVM chains ( like Solana and NEAR).

Omni provides price tracking features for various cryptocurrencies, including native assets such as AVAX, BNB, ATOM, MATIC, as well as staking certificates like stETH and stMATIC, and even Yearn's vaults. All operations can be completed directly on the Omni homepage with just a few clicks.

Convenient staking and yield aggregation

Omni's "three-point staking" feature greatly simplifies the staking process. Whether you're a novice or a veteran, you can complete staking operations directly within the Wallet, without the need to access other protocols or applications.

Taking staking ETH on Lido as an example, users only need to click on stETH, click "Stake" on the pop-up page, enter the amount of ETH, and then confirm the transaction. The entire process is quick and simple, without the need to leave the Wallet.

Omni supports three-point staking for over 15 public chain assets, and users can also invest regularly through Figment, Coinbase, or Everstake. In addition, Omni collaborates with Benqi to support sAVAX, with Lido to support stETH, stMATIC, and stSOL, and supports xSUSHI through Sushi.

Omni natively supports Yearn's yield farms on Ethereum and Fantom, allowing users to easily access yield-optimized strategies. Compared to visiting the Yearn website, participating in yields on Omni only requires three clicks.

Explore the Web3 world

The Omni exploration page provides users with a window to understand various ecosystems, including the latest updates, news, native integrations, and choices of applications across industries.

The exploration page is divided into several parts:

• Overview: Includes the latest updates, weekly features, general news, and a collection of popular applications.
• Ecosystem: Covers the latest developments across various ecosystems, native integrations, and top applications categorized by industry.

Through Omni, users can easily manage multi-chain assets, participate in staking, and explore the Web3 world, truly experiencing a one-stop Web3 super application.