Proof of Usefulness Report

Octopus Network

Analysis completed on 1/27/2026

+37
Proof of Usefulness Score
You're In Business

The project represents a legitimate blockchain initiative (Octopus Network/Omnity) focusing on Bitcoin interoperability and appchains. However, the submission quality is critically low, containing hyperbolic and objectively false claims (e.g., 'most people have used my product' and 'everyone' as the audience). While the technical architecture is verifiable and relevant, the lack of credible user metrics, the niche market position (micro-cap valuation), and the poor data presentation result in a low score consistent with minimal verifiable traction.

Ready to Compete for $150k+ in Prizes?

Move this data into a HackerNoon blog draft to become eligible for your share of $150k+ in cash and software prizes

View All Reports

Score Breakdown

Real World Utility+12.0
Audience Reach Impact+2.0
Technical Innovation+11.25
Evidence Of Traction+2.5
Market Timing Relevance+7.5
Functional Completeness+0.25
Subtotal+35.5
Usefulness Multiplierx1.05
Final Score+37

Project Details

Project URL
Description
Octopus Network launched in January 2024 Omnity, a fully on-chain omnichain hub that can connect any Layer 1, Layer 2, or appchain to the Bitcoin network.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline