2023–2024: Highlights, Hope, and Heralding Success!

Orbiter_Finance
6 min readJan 11, 2024

Dear Orbiter Pilots,

As we bid farewell to 2023, we are thrilled to unveil the highlights from our protocol and industry trends, while offering a glimpse into our strategic initiatives for 2024.

Last year, we witnessed the combined TVL of Ethereum Layer-2 networks concluding 2023 at a record high of almost $14.8 billion, according to L2beat data. This highlights both rapid development and strong market recognition.

Alongside the remarkable success of Layer 2s, Orbiter Finance has undergone rapid growth while fulfilling our commitment to enhancing our suite of ZK-tech-based, cross-L2 products and services. This ensures secure and efficient asset bridging, solidifying our position as the foundational infrastructure layer within the Ethereum ecosystem.

Let’s check out the big milestones we’ve reached and look forward to the flourishing of Layer 2 ahead!

2023 Milestones:

1. Operations and Marketing

As we ride the wave of Layer 2’s rise, Orbiter’s 2023 journey has been nothing short of spectacular. We’ve processed more than 12 million transactions, totaling over 7.8 billion dollars, and proudly boast a whopping 3 million users — remarkable achievements for us.

We owe a massive ‘thank you’ to the incredible Orbiter Finance community. Your unwavering support has been the driving force behind our business growth.

Our marketing efforts have been crucial in establishing Orbiter’s strong presence. We have harnessed the power of various social media tools. On Twitter, our follower base has skyrocketed, surging from around 134k to an impressive 548k. Similarly, our Discord community has experienced significant growth, soaring from approximately 44k members to a thriving 189k.

Using social media, we connect, organize community calls, and support initiatives to build a community as strong as our morning coffee. ☕️

Follow us on: Orbiter Finance Website | Orbiter Finance Twitter | Orbiter Finance Discord |Orbiter Finance Medium | Orbiter Finance GitHub

2. Fundraising:

In 2023, we successfully completed a Series A round, led by OKX Ventures with participation from Redpoint China, Hash Global, Skyland Ventures, Mask Network, Bas1s Ventures, Zonff Partners, etc. This achievement builds on the momentum gained from securing investments in 2022 from esteemed backers like Tiger Global Management and Matrixport.

We value their acknowledgment and will remain committed to pushing boundaries, striving for greater achievements in the Layer 2 landscape.

3. Technological Advances Toward Decentralization

We are excited to announce a major upgrade, introducing zk-SPV to efficiently verify the validity of transactions initiated from Layer 2s on the mainnet and conduct arbitration towards fraudulent relayers through EVM. We hosted a bounty event, ‘Challenge the Malicious Maker,’ to demonstrate the feasibility of zk-SPV.

With fund security guaranteed by zk-SPV to prompt correct responses from Makers on Orbiter, we can grant full access to the Maker role, completing the final piece of the puzzle to attain the holy grail in blockchain infrastructure: Decentralization.

By leveraging open protocols, Makers can form partnerships with numerous Dealers, who receive incentives for providing decentralized frontends from Makers, to further promote frontend diversity, which can minimize the potential impact of user fund losses.

We have also extended access to our API, offering developers a gateway to unlock the complete capabilities of our protocol and contribute to building and shaping the future of our ecosystem. Our current compatibility spans across various networks, including Ethereum, Arbitrum, Polygon, Optimism, zkSync Era, BSC, Arbitrum Nova, Polygon zkEVM, Scroll, Base, Linea, Mantle, Zora, and Manta.

The Orbiter research team has released the Yellow Paper for the Orbiter decentralized cross-layer bridge, allowing community users to fully grasp the decentralized operational mechanism of the Orbiter bridge from a technical perspective.

ZK-SPV singularity is arriving in the Ethereum ecosystem, enhancing the interoperability of Layer 2s.

To wrap it up, it’s not just about the research — we’re all about putting ideas into action. All the cool stuff we’ve been studying will come to life as real-deal products this year. Stay tuned for some awesome things coming your way!

4. Collaborations and Partnerships:

We currently provide support for 19 networks, and our commitment to timely assistance for new networks ensures users can effortlessly navigate Layer 2s.

We have established partnerships with key players like Arbitrum, Optimism, Polygon, Linea, zkSync, Base, Starknet, Scroll, Manta Network and others to host events, including giveaways, quest campaigns, etc.

Additionally, we are thrilled to announce our collaboration and strategic partnership with Ingonyama, a significant step in advancing the field of ZKP acceleration. Our teams have engaged in multiple meetings for code sharing, and we are actively exploring the possibility of integrating ICICLE into our ZKP system. These efforts reflect our dedication to contributing to the development of zero-knowledge technology.

5. Campaigns and Activities:

Orbiter Finance launched impactful campaigns and organized meaningful activities to enhance brand awareness and foster community engagement.

For instance, we’ve conducted AMAs with our partners, providing a direct channel to share insights and visions with users. Through these sessions, we also contributed meaningful insights to the industry, creating a collaborative space for transparent dialogue and mutual growth.

We have been actively engaged in prominent blockchain conferences and events, including ETHDubai, and EDCON 2023 in Podgorica, Montenegro, where we unveiled our project demo for the first time. Additionally, we participated in the Oxford Blockchain Conference, Starknet London Meetups, and ETHCC 2023 in Paris, France. At the latter, we organized a side event, inviting key players in ZKP such as Starknet, Linea, Scroll, Polygon, etc., for an exclusive gathering and networking session.

Finally, we participated in the premier crypto event, TOKEN2049, in Singapore and hosted a side event titled “Rewrite the System: An OKX Web3 Party.” In collaboration with OKX, we convened thought leaders and visionaries to delve into the future of ZKP, Layer 2 solutions, and Ethereum.

2024: Pivotal Events on the Horizon

As we kick off 2024 with determination, we’re gearing up for another year of impactful endeavors. Amid our ongoing commitment, two pivotal events will shape our path significantly:

  • From Bridge to Rollup: We are embracing a new vision, evolving beyond a mere asset cross-rollup bridge. In 2024, we’re poised to emerge as a ZK-tech-based instant omni-rollup on Ethereum. Our approach, rooted in pre-trust and post-arbitration principles, ensures ultimate interoperability and enhanced fund efficiency. This innovative rollup will function as a foundational infrastructure layer, introducing a universal standard to address the fragmentation challenges faced by users and developers in the Ethereum ecosystem. With our comprehensive solution, users can effortlessly execute intent-based transactions and communicate swiftly and securely across various L2s, paving the way for billions of people in the web3 world in the future.
  • Token Launch: In appreciation of our devoted community, we are thrilled to confirm the launch of our native token this year. We’ll gradually unveil the tokenomics and distribution plan, ensuring a fair process. The O-Points Program will play a crucial role in shaping our airdrop rules. Stay tuned for exciting rewards and opportunities.

Raising our glasses to welcome the new year, Orbiter Finance expresses heartfelt gratitude to every supporter. Your support propels us forward into another transformative year.

We are on our way to a prosperous and inspiring 2024! Here we go!🚀

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Orbiter_Finance

Orbiter Finance is a decentralized cross-rollup Layer 2 bridge with a contract only on the destination side.