OMNIA’s Blog
Blog
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What is NFT Frontrunning?
4 min read In traditional financial, front-running is the practice of early entry into a trading position with prior non-public knowledge that a larger pending transaction will be executed. The target transaction is already known to have a potentially significant impact on the value of the asset being traded. Although illegal in mainstream financial markets,…
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Elon Musk is buying Twitter. What does this mean and what are the possible drawbacks ?
7 min read A week ago, Twitter’s board of directors finally accepted Elon Musk’s bid to buy the company, ending weeks of speculation about whether the CEO of Tesla would eventually manage to close the $44 billion takeover deal. Twitter and Other Centralized Applications Have Potential Pitfalls 1. Centralized Decision Making Mr. Musk, who is…
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What is Impermanent Loss and How Can It Be Minimized?
3 min read The rise of decentralized finance (DeFi) led to the creation of a new type of decentralized exchange, one without traditional order books. Instead, these exchanges source liquidity from pools of assets, and those who provide assets earn from every trade made on those while risking impermanent loss. Decentralized exchanges like Uniswap, PancakeSwap,…
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Axie Infinity Hack is an Industry Problem
5 min read The Ronin Validator security breach by the North Korean-based Lazarus hacker group and APT38 will go down in DeFi history as one of the largest in terms of total value stolen. According to the team at Ronin, the security breach resulted in the loss of 173,600 Ethereum and 25.5 million USD Coin. This…
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WTF is JSON-RPC ?
3 min read Developers can often use a lot of different complex concepts to get to a final, easy-to-use product. JSON-RPC may be something that throws off most people when they see it mentioned, although it’s a data exchange protocol that allows a client to communicate with a server. The client (i.e. a blockchain explorer…
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Why Is There a Subscription Involved?
2 min read The OMNIA Protocol’s infrastructure, consisting of blockchain nodes and privacy relayers which act as decentralized API gateways for accessing blockchains, involves a subscription plan for users. This article will dig into why there’s a subscription involved. First, let’s define the type of service OMNIA Protocol offers. OMNIA offers increased privacy and security…
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Why Should I Add Liquidity on OMNIA Token on Decentralized Exchanges?
2 min read Any successful token in the cryptocurrency space needs as much liquidity as possible on the market to allow existing token holders to cash out or increase their positions and enable large investments to be made without affecting its price heavily. OMNIA, just like any other token, also has liquidity needs that can…
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NFTs and off-chain security
3 min read The public nature of blockchain technology means that while every address within a network is pseudonymous, a record of every transaction each address has ever conducted can be easily accessible. Blockchains like Ethereum and BNB Chain maintain public, accurate records of every transaction conducted, which means that anyone can easily find someone’s…
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OMNIA Protocol Raises $3.2 Million in Oversubscribed Fundraise
2 min read OMNIA Protocol is delighted and proud to announce it has successfully raised a total of $3.2 million in an overly subscribed funding round that saw the participation of numerous prominent investors in the blockchain and DeFi space. Prominent investment firms, influencers, and community-based funds participate in OMNIA Protocol’s fundraising process, which resulted…
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Frontrunning Protection: Securing Your Transactions Through Private Mempools and Flashbots
3 min read Most Ethereum (ETH) and other smart contract network users aren’t aware of how risky trading on-chain can be. Not because funds are going to get stolen, but because certain inefficiencies on the blockchain allow arbitrage bots to take advantage of orders to make a profit. Miners, stakers, or other validators earn rewards…
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AMA Recap — OMNIA Protocol
3 min read Yesterday, 2nd March 2022, we organized an AMA session with Santi Lopez & Lauri. Below is the AMA transcript: Lauri: Both of you had the same carreer path in the crypto industry? Cristian: Yes, so me and Alex have 90% the same carreer path. The only difference is that I followed the research path while…
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Lessons from the Wormhole Exploit
4 min read TL;DRWormhole didn’t upgrade to the latest version of Solana standard lib, therefore it didn’t check stuff properly and allowed the attacker to bypass the signature verification process, thus stealing around $300M worth of ETH from the Wormhole Bridge. I finally had some spare time this weekend and decided to do a full dive…