Summary Value Secured Risk summary Risk analysis Data availability State validation Updates Operator Withdrawals Smart contracts

OMG Network

This project is archived and no longer maintained.

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About

OMG Network claims to be the leading value transfer network for ETH and ERC20 tokens. The Network scales by centralizing transaction processing and remains safe by decentralizing security.

Total Value SecuredTVS

$57.57 K2.57%

Past day UOPSDaily UOPS

No data

Type

Plasma

Purpose

Payments

Tokens breakdown

Value secured breakdown

0.00% with additional trust assumptions

View TVS breakdown

Sequencer failureState validationData availabilityExit windowProposer failure

Explore more in Discovery UI

About

OMG Network claims to be the leading value transfer network for ETH and ERC20 tokens. The Network scales by centralizing transaction processing and remains safe by decentralizing security.

Value Secured

View TVS breakdown

Exclude restricted RWA tokens

Total

Canonically BridgedCanonically Bridged ValueCanonical

Natively MintedNatively Minted TokensNative

Externally BridgedExternally Bridged ValueExternal

ETH & derivatives

Stablecoins

BTC & derivatives

Other

View TVS breakdown

Risk summary

Risk analysis

Sequencer failureState validationData availabilityExit windowProposer failure

Sequencer failure

Force via L1

Users can force the sequencerA party responsible for ordering and executing transactions on the rollup. The sequencer verifies transactions, compresses the data into a block, and submits the data related to it to enable state reconstruction to Ethereum L1 as a single transaction. The data can be either transaction data or state diffs. to include a transaction by submitting a request through L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development.. If the sequencer censors or is down for , users can use the exit hatch to withdraw their funds.

State validation

Exits only

Exits from the networkA constellation of nodes (peers) that communicate via a peer-to-peer protocol, for example, in propagating transactions and blocks to other nodes. are subject to a period when they can be challenged. The internal network state is left unchecked.

Data availability

External

Proof construction and state derivation rely fully on data that is NOT published onchain.

Exit window

None

There is no window for users to exit in case of an unwanted upgrade since contracts are instantly upgradable.

Proposer failure

Use escape hatch

Users are able to trustlessly exit by submitting a Merkle proof of funds. The details are unknown.

Data availability

Data is not stored on chain

Note: This section requires more research and might not present accurate information.

The transaction data is stored on a plasmaPlasma is an offchain scaling solution that is able to support offchain data availability by allowing users to exit even when the data is unavailable. Usually, though, Plasma projects require users to frequently monitor the chain (e.g. at least once per week) to ensure that they can exit in time if necessary. There are attempts to support general smart contracts, but the exit mechanism is often limited to simpler applications. chain and is not recorded on the Ethereum main chain.

Funds can be lost if the external data becomes unavailable (CRITICAL).

State validation

Fraud proofs

Note: This section requires more research and might not present accurate information.

The internal system state is not subject to any checks. Only exits from the system can be challenged. This places a much higher burden on potential validatorsIn the context of L2s, a Validator is an actor that validates the correctness of state transitions. For optimistic rollups this corresponds to challengers, and for ZK rollups this corresponds to the onchain verifier, as they have to monitor all user activity and not only the single state.

Funds can be stolen if there are fraudulent exits which nobody reported. Fraud proofs assume that every exit is checked by at least one honest and able party (CRITICAL).

Updates

2022 December 10, 14:32 UTC

10changes

Discovery rerun on the same block number with only config-related changes.

New and verified contracts

+	Status: CREATED
	contract (eth:0x081d7B167a94E7421Ea5D0016C3D01E0cFf6B557)
	+++ description: None

+	Status: CREATED
	contract (eth:0x24c0a84090135AD04F257C85E10db6B4A74E0738)
	+++ description: None

+	Status: CREATED
	contract (eth:0x4f05855B6dF026726037500D10D91652b5C9e784)
	+++ description: None

+	Status: CREATED
	contract (eth:0x5d3EE50E31293B45A7eb8B864c0B015E169AC7D8)
	+++ description: None

+	Status: CREATED
	contract (eth:0x5E84DF30ce17A9AC34E5474fc37a9c2267454518)
	+++ description: None

+	Status: CREATED
	contract (eth:0x67C3E5524dBE05B54fE08c3D4af65c273B87E630)
	+++ description: None

+	Status: CREATED
	contract (eth:0x7A8C0D7F1e6dBe36AB3A9adE0C44a0b868bB703F)
	+++ description: None

+	Status: CREATED
	contract (eth:0x9e3108FB11cAEDA64e264B2953a0eDa81cf1a650)
	+++ description: None

+	Status: CREATED
	contract (eth:0xEf6133d149460C9B79e132517934f77F1E62b23e)
	+++ description: None

+	Status: CREATED
	contract (eth:0xf38380bbf08961123960fAd630a0609906849751)
	+++ description: None

2025 July 14, 12:45 UTC

6changes

Discovery rerun on the same block number with only config-related changes.

New and verified contracts

+	Status: CREATED
	contract Erc20Vault (0x070cB1270A4B2bA53c81CeF89d0FD584Ed4F430B)
	+++ description: None

+	Status: CREATED
	contract PlasmaFramework (0x0D4C1222f5e839a911e2053860e45F18921D72ac)
	+++ description: None

+	Status: CREATED
	contract EthVault (0x3Eed23eA148D356a72CA695DBCe2fceb40a32ce0)
	+++ description: None

+	Status: CREATED
	contract PaymentExitGame (0x48d7A6bbc428bca019A560cF3e8EA5364395Aad3)
	+++ description: None

+	Status: CREATED
	contract ETHDepositVerifier (0x649f37203c365DE759c8fc8CA35beBF5448F70Be)
	+++ description: None

+	Status: CREATED
	contract ERC20DepositVerifier (0xD876aeb3a443FBC03B7349AAc115E9054563CD82)
	+++ description: None

Operator

The system has a centralized operator

Note: This section requires more research and might not present accurate information.

The operatorAn operator is the entity charged with managing a rollup and progressing its state. A rollup operator can be a centralized sequencer, proposer, prover, challenger, pauser of admin that is able to perform upgrades. is the only entity that can propose blocksAn ordered list of transactions and chain-related metadata that gets bundled together and published to the L1/DA layer. Nodes execute the transactions contained within blocks to change the rollup chain’s state. Protocol rules dictate what constitutes a valid block, and invalid blocks are skipped over.. A live and trustworthy operator is vital to the health of the system.

MEV can be extracted if the operator exploits their centralized position and frontruns user transactions.

Users can independently exit the system

Note: This section requires more research and might not present accurate information.

Independent exit allows the users to escape censorship by withdrawing their funds. The system allows users to withdraw their funds by submitting a transaction directly to the contract onchain.

Users can be censored if the operator refuses to include their transactions. However, there exists a mechanism to independently exit the system.

Withdrawals

Regular exit

Note: This section requires more research and might not present accurate information.

The user executes the withdrawal by submitting a transaction on L1Layer 1 (L1) is a blockchain that is self-reliant on its validator set for its security and consensus properties. Ethereum is an example of a layer 1. Blockchains started receiving the moniker of layer 1 once layer 2 became a meaningful area of development. that requires a merkle proof of funds.

The mass exit problem is unsolved

Note: This section requires more research and might not present accurate information.

In case the operatorAn operator is the entity charged with managing a rollup and progressing its state. A rollup operator can be a centralized sequencer, proposer, prover, challenger, pauser of admin that is able to perform upgrades. is malicious all users need to exit within a predetermined time frame. Users that do not manage to do this will lose their funds.