Today we are excited to announce Omnisea Portal - a permissionless and cross-chain composable NFT Bridge that instantly makes every existing collection Omnichain. The Portal is now available on our testnet.

Omnisea Portal. The Ultimate NFT Bridge.

▪️ Supports Every Existing ERC721

Omnisea Portal's support for every existing ERC721 token is groundbreaking for the NFT ecosystem. It essentially turns every NFT into an ONFT. This universal compatibility is designed to ensure a seamless user experience, making it easier for users to transfer their assets across multiple platforms. It also lays the foundation for future-proofing the system and making it chain-agnostic.

▪️ Utilizes LayerZero Cross-Chain Messaging

One of the strengths of Omnisea Portal lies in its integration with LayerZero cross-chain messaging. This enables rapid and reliable cross-chain communication, serving as the backbone for transferring NFTs between different blockchains.

▪️ Supports 20 Mainnet Chains from the Start

Right from its launch, Omnisea Portal will be compatible with 20 mainnet chains. This broad range of support expands the horizons for NFT traders and collectors, offering a one-stop solution for transferring NFTs across various ecosystems. Additionally, the plan to onboard more chains ensures that Omnisea Portal stays relevant and adaptable to the evolving blockchain landscape.

▪️ Interconnection and Guaranteed Redeemability

Omnisea Portal offers unique interconnection capabilities, allowing users to bridge their NFTs from one chain to another, and then even to the next blockchain or back to the original network, if desired. This comes with a guarantee that the owner can always redeem their original NFT (even if the token's owner has changed on the destination chain), irrespective of how many chains it has traversed. It’s a safety net that adds a layer of trust and dependability to the platform.

▪️ Maintains Collection and Token Metadata

Retaining metadata is critical in preserving the uniqueness and identity of NFTs. Omnisea Portal ensures that both collection and token metadata, including contractURI and tokenURI, remain intact as they cross different chains. This is an essential feature for collectors who care deeply about the provenance and authenticity of their NFTs.

▪️ Retains Owner Property

Another beneficial feature is the preservation of the owner property in the NFT if it exists. This means that the crucial ownership details associated with an NFT will be consistent across chains, maintaining the integrity of the ownership record. The owner property is widely used by marketplaces such as OpenSea to access the “Edit” settings of a collection (change background, royalty, etc.). So, we assumed that it was absolutely crucial to maintain the contract’s ownership.

▪️ Cross-Chain Composability and Programmability

With Omnisea Portal, users are not just limited to transferring assets; they can also invoke external contracts on the destination chain with arbitrary payloads. This opens up a world of possibilities for third-party integrations like cross-chain marketplaces. The feature extends the realm of what's achievable in a single cross-chain transaction, such as bridging and selling an NFT simultaneously.

▪️ Introduces Omnichain Provenance

Omnisea Portal innovates by introducing Omnichain Provenance, a unique cross-chain ID for each collection. This allows users to verify the authenticity of any bridged collection by tracing it back to its address on the original (source) chain. It’s an invaluable feature that enhances trust and transparency in the NFT space. It also paves the way to build an Omnisea Portal Explorer in the future that indexes and displays all the collections that used the Portal including their addresses, tokens, and circulating supply on each supported chain making the User Experience seamless. It’ll also further increase the level of trust put in the assets on the destination chains.

▪️ Decentralized and Permissionless Architecture

The platform is built on a decentralized architecture that is both deterministic and immutable. While new chains can be added by an admin, existing connections cannot be tampered with or paused. This decentralized nature adheres to the ethos of blockchain, ensuring a robust and secure platform for all its users. Moreover, Omnisea Portal is fully permissionless meaning that every existing NFT can be bridged by every Holder, even if it’s the first time that the collection (ERC721) is being bridged. In combination with the abovementioned "guaranteed redeemability" and nonpausable design, we develop a fully trustless and permissionless contract.

▪️ Security in mind

Thanks to the recent LayerZero efforts, Omnisea Portal is now secured by Google Cloud and their Oracle.

The Google Cloud oracle is meant to serve as the https of cross-chain messaging. Just like they verify all https certificates to attest to the validity of the website, The Google Cloud oracle is now additionally verifying all LayerZero messages by default.

Moreover, what is important from the point of view of the security of the bridged asset itself, we have implemented a retry mechanism, which in the event of a transaction error on the destination chain, e.g. due to an unexpected increase in the price of gas, allows you to complete the transaction directly on this destination chain.

Quarterly OSEA BuyBack and burn from the collected Collection Fees.

Last but not least, we have some major news for OSEA Holders. In the last article, we recalled the planned Protocol Revenue streams and how they will translate into Real Yield in the coming future.

However, we do not stop there and today we announce that 50% of the revenue obtained from the Collection Fee will be allocated to OSEA's quarterly buyback. All OSEA tokens purchased in this way will be immediately burned (or irreversibly sent to a burner address).

Collection Fee is a special type of NFT bridging fee that is paid only once per collection. It will initially amount to approximately $8 (in ETH) and will be paid by the first person bridging the NFT from a given collection. It will likely often be a person from the collection’s founding team, but of course, it can be any Holder.

As of today, we are launching Omnisea Portal on the testnet available at omnisea.tech. Our vision is to make Omnisea Portal the largest NFT bridge in terms of the number of bridged collections and unique transactions.