- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
HOT Labs Surpasses 1 Million Users on Omni Balance as Chain Abstraction Demand Grows
By: optimisus|2025/05/14 14:15:04
0
Share
Blockchain developer HOT Labs has announced that it has exceeded one million active users on its Omni Balance platform. The milestone highlights the growing market preference for Chain Abstraction technology that presents a viable decentralized trading solution.Developed by HOT Labs, Omni Balance operates as a unified smart contract on the NEAR blockchain, storing user balances across multiple blockchains and enabling seamless digital asset management. Users can effortlessly execute cross-chain token exchanges, such as converting an Ethereum-based token to a Stellar-based token within a single transaction on Omni Balance.The design of Omni Balance closely mirrors centralized exchanges that facilitate trades between assets from different networks, but operates in a fully decentralized manner. All balances on HOT Omni are secured 1:1 with balances on native chains through the HOT Bridge and HOT Protocol’s decentralized validator network. Due to NEAR blockchain’s inherent scalability, Omni Balance is capable of serving billions of users efficiently.“Crossing the one-million-user mark clearly indicates a market shift toward decentralized platforms,” said Andrey Zhevlakov, CTO and co-founder of HOT Labs. “Hosted on NEAR, Omni Balance simplifies asset management dramatically, enabling instant token swaps across multiple blockchains.”Seasoned blockchain entrepreneur and technologist Zhevlakov co-founded HOT Labs with Petr Volnov and Nik Briuzgin in 2024. Their initial product, HOT Wallet, rapidly grew to over 30 million users and achieved notable popularity within the Telegram ecosystem. Zhevlakov previously led several successful blockchain startups focused on improving accessibility and security for mainstream cryptocurrency adoption.“Decentralization isn’t merely about advancing technology: it fundamentally shifts control back to users,” Zhevlakov added. “With our Intents marketplace facilitating token swaps, Omni Balance provides usability and security. We are actively working on integrating an Orderbook system to further enhance our trading infrastructure.”Omni Balance’s impressive user growth is part of a larger trend away from centralized exchanges, which has accelerated in response to recent high-profile security incidents. Chain Abstraction technology directly addresses these vulnerabilities, expediting the transition to decentralized alternatives.HOT Labs intends to continue expanding Omni Balance’s capabilities, addressing scalability, enhanced security measures, and an improved user interface. Under Zhevlakov’s technical guidance, the company anticipates further growth in its user base leading to broader adoption of decentralized financial solutions.About HOT LabsHOT Labs is an experienced blockchain development and research team. Founders Peter Volnov and Yuriy Olentyr have developed products for NEAR and TON that have attracted millions of users. As HOT Labs, the two founders aim to build upon their work with HOT Wallet and HAPI to create blockchain solutions that make web3 easier to access across the entire multichain ecosystem.The post HOT Labs Surpasses 1 Million Users on Omni Balance as Chain Abstraction Demand Grows appeared first on Optimisus.
You may also like
Hawkish Signal in Tightening Mode | Rewire News Brief
Maintaining the interest rate unchanged is within expectations; beyond expectations is the dot plot
x402 and AI Agents: An Emerging Data Economy
x402 How to Perfectly Combine with Data Aggregation and Management?
Illustration: Despite 6 consecutive interest rate cuts, the interest rate outlook is trending upward
Nobody knows the answer, including the Fed itself
SpaceX is playing hardball with Nasdaq at the negotiation table, while Hyperliquid has already flipped the table.
A Cross-Section of Capital Market Gravity Direction Change
Bloomberg: Once Blacklisted by the U.S., Bitmain Finds a New Powerful Backer
Bitmain has been embroiled in mining rig security controversies for years, but that has not stopped it from engaging in business partnerships with key members of the US presidential family.
Three Charts Explain Why S&P Authorized Its Brand to trade.xyz
Over 100x Growth in 6 Months
After the SEC and CFTC Join Forces, What Can the Crypto Market Look Forward To?
Regulation is the starting point; a bull market depends on traditional fund inflows
Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
The narrative of RWA is not about traditional finance capturing crypto users, but rather crypto capturing traditional users.
Morning Report | Kraken freezes IPO plans due to difficult market conditions; Polymarket acquires DeFi infrastructure Brahma; World launches AgentKit integrated with Coinbase
Overview of Important Market Events on March 18
Bitmain, mired in controversy, has found its strongest backing in the United States
Bitmain has been mired in controversies over the safety of its mining machines for years, but this has not stopped it from engaging in business cooperation with key members of the U.S. presidential family.
Full text of the Federal Reserve's decision: Maintain interest rates unchanged and expect one rate cut within the year, with Governor Mulan casting a dissenting vote
The Federal Reserve has again kept interest rates unchanged, stating that the situation in the Middle East has an uncertain impact for now. Governor Milan believes that interest rates should be cut by 25 basis points. The dot plot still indicates an expected rate cut once this year.
Guarding billions in assets, yet unable to sustain itself: Tally bids a dignified farewell after five years
Tally chooses to take proactive stop-loss measures instead of stubbornly selling tokens and making promises that cannot be fulfilled.
SEC’s Stance on Crypto Assets: Most Not Considered Securities
Key Takeaways: The SEC’s new interpretation categorizes most crypto assets as non-securities under federal law. This move aims…
South Korea’s New Crypto Seizure Guidelines After Asset Mismanagement Incidents
Key Takeaways: South Korea’s National Police Agency (KNPA) has drafted guidelines for crypto seizure, with a focus on…
Institutional Confidence in Crypto’s 2026 Growth Trajectory
Key Takeaways: A significant 73% of institutional investors plan to increase their crypto holdings by 2026. Exchange-traded products…
Ethereum Reduces Bridge Times by 98% with Fast Confirmation Rule
Key Takeaways: Ethereum introduces the Fast Confirmation Rule (FCR) aiming to cut bridge times from L1 to L2…
Crypto Firms Advocate DeFi Education in US Colleges
Key Takeaways: Twenty-one crypto organizations have called on US colleges to integrate decentralized finance (DeFi) into their curricula…
RedotPay Reorganizes Amidst Funding Tries and IPO Goals
Key Takeaways: RedotPay is facing leadership changes and concerns over its connections with mainland China while eyeing a…
Hawkish Signal in Tightening Mode | Rewire News Brief
Maintaining the interest rate unchanged is within expectations; beyond expectations is the dot plot
x402 and AI Agents: An Emerging Data Economy
x402 How to Perfectly Combine with Data Aggregation and Management?
Illustration: Despite 6 consecutive interest rate cuts, the interest rate outlook is trending upward
Nobody knows the answer, including the Fed itself
SpaceX is playing hardball with Nasdaq at the negotiation table, while Hyperliquid has already flipped the table.
A Cross-Section of Capital Market Gravity Direction Change
Bloomberg: Once Blacklisted by the U.S., Bitmain Finds a New Powerful Backer
Bitmain has been embroiled in mining rig security controversies for years, but that has not stopped it from engaging in business partnerships with key members of the US presidential family.
Three Charts Explain Why S&P Authorized Its Brand to trade.xyz
Over 100x Growth in 6 Months
App