Ottochain, Octopus Network's inaugural consumer chain, is a Cosmos SDK-based appchain offering enhanced security and decentralization. It borrows its restaking mechanism from EigenLayer, mirroring the approach that helped EigenLayer secure $50 million in Series A funding. Unique for its Ethereum Virtual Machine (EVM) compatibility via Ethermint, Ottochain allows developers to utilize Ethereum's smart contracts and tools like Metamask, and also pioneers interoperability with the NEAR Protocol blockchain.
Central to Ottochain is the Octopus 2.0 Interchain Security model, safeguarding consensus integrity through local staking and L1 restaking, countering potential low token value threats. Its tokenomics encourage community participation, with token holders and Octopus Nation jointly steering governance through voting on key proposals.
As a Cosmos SDK fork of Evmos, Ottochain stands out with its IBC Protocol interoperability, developed by Cosmos' engineers and adapted for NEAR Protocol by Octopus Network. The platform aims to unite blockchain enthusiasts in Octopus Nation, fostering a collaborative, community-driven ecosystem focused on blockchain innovation and industry transformation. Here, Octopus Nation acts as a council, overseeing partnership and community airdrops, cementing Ottochain's role as a vibrant, inclusive blockchain community.