Introduction

Decentralisation has been the guiding principle of the blockchain revolution, empowering individuals and communities to take control of their digital assets and participate in a more inclusive financial system. As the blockchain ecosystem continues to evolve, it becomes increasingly important to foster interoperability, security, and community-driven governance.

Introducing Ottochain, the first consumer chain launched by Octopus Network. Built on the Cosmos SDK which is an open-source framework for building multi-asset public Proof-of-Stake (PoS) blockchains, like the Cosmos Hub, as well as permissioned Proof-of-Authority (PoA) blockchains and supported by Octopus 2.0 Interchain Security. Ottochain is a fork of Evmos, a prominent CometBFT-based blockchain with over 25 active IBC peers at the time of writing this document.

At its’ core, Ottochain aims to unlock the potential of decentralisation by providing a secure and interoperable platform for inclusivity and active engagement. By adopting the Octopus 2.0 Interchain Security model, Ottochain ensures the integrity and security of consensus through consensus, local staking, and L1 restaking to mitigate attacks due to low initial token valuation. Ottochain is a Cosmos SDK-based appchain, using a restaking mechanism inspired by EigenLayer. The same powerful restaking mechanism enabled EigenLayer to raise $50 million in Series A funding, making it a robust solution in shared security by integrating staking and onchain contracts for improved capital efficiency and distribution of risk to any stakers’ single validator.

One of the distinguishing features of Ottochain is its compatibility with the Ethereum Virtual Machine (EVM) through the EVM component set known as Ethermint. This compatibility enables developers to leverage the power of smart contracts and access the vast ecosystem of existing Ethereum-based applications while allowing users to keep using familiar tools like Metamask. Additionally, Ottochain facilitates interoperability with the NEAR Protocol blockchain, the first of it’s kind. Ottochain's exceptional interoperability is based on the IBC Protocol designed by the Cosmos’ original engineering teams and adapted to NEAR Protocol by Octopus Network.

The tokenomics of Ottochain incentivize active participation and contribution from the community. Token holders together with Octopus Nation form a crucial role in shaping the governance of Ottochain, with the ability to vote on proposals and decisions related to the community chain. This inclusive governance model ensures that the platform's direction is driven by its stakeholders, fostering a sense of ownership and responsibility among community members. With a maximum of 1 trillion tokens,

Ottochain is a vibrant community-driven ecosystem supported by Octopus Nation. This community is a gathering place for like-minded individuals who share a passion for blockchain technology and its potential to transform industries through interoperability and social consensus. Through collaborative efforts and a supportive environment, Octopus Nation fosters growth, learning, and engagement within the Ottochain community, while Octopus Nation will be responsible for acting as a council to manage the allocated partnership and community airdrops.

This whitepaper serves as a comprehensive guide to understanding the key components of Ottochain and its overarching importance in advancing decentralisation and community building. It explores the architecture, tokenomics, governance, community engagement, and potential use cases that make Ottochain a pioneering force in the blockchain landscape.

We invite you to delve into the following sections of this whitepaper, where we provide an in-depth exploration of Ottochain's features and opportunities. Together, let us embrace the power of decentralisation, interoperability, and community to drive the evolution of blockchain and shape a more inclusive and collaborative future with Ottochain.