Ithaca is a next-generation blockchain infrastructure project focused on building a modular ecosystem for decentralized finance, improved user experience (UX), cross-chain interoperability, and secure value transfer. Through its own Layer-2 testnet called Odyssey, the open-source Porto library, and tools for options and structured products, Ithaca offers developers a unique stack for building flexible, secure, and user-friendly Web3 applications. In this article, we explore Ithaca’s core components, architecture, technical design, UX innovations, team, and the project’s long-term outlook.
Contents
- Architecture and Strategic Vision of Ithaca
- Odyssey and Porto: A Modular Developer Stack
- UX Innovations and Experimental Technologies
- Team, Funding, and Web3 Contributions
- Conclusion and Development Outlook
1. Architecture and Strategic Vision of Ithaca
Ithaca is being developed as a permissionless platform that enables the creation of derivative financial instruments (such as options, structured products, and loans) on any assets across multiple networks. The architecture is modular: each component is responsible for a specific part of the protocol's operation, ensuring flexibility and scalability of solutions.
The system architecture of Ithaca consists of several layers:
- Pre-Match Layer: Frequent Batch Auctions for fair and efficient order matching.
- Settlement Layer: Smart contracts for trade settlement, collateral optimization, and final clearing.
- Bridging: Cross-chain communication through Axelar to connect various networks.
- Frontend (Ithaca App): A user interface for creating, trading, and managing financial products.
This approach allows developers to build financial applications as if from building blocks, using verified and secure modules. Future plans include integrating additional asset classes and interaction layers, including NFTs and on-chain lending. A key element of Ithaca’s vision is scalability—the platform is optimized for L2 networks and interoperability across ecosystems. This makes Ithaca a flexible foundation capable of adapting to diverse user and institutional needs.
2. Odyssey and Porto: A Modular Developer Stack
The Ithaca project provides two core tools for developers: the Layer‑2 network Odyssey and the Porto library.
Odyssey is an experimental testnet based on Reth SDK and OP Stack, offering high throughput (up to 33M gas/sec) and rapid block times (~1 second). It includes support for several cutting-edge Ethereum proposals (EIPs), such as:
| EIP | Description |
|---|---|
| EIP‑7702 | Account Abstraction — temporary delegation of account control |
| EIP‑2537 | BLS precompiles for zk integration and advanced verification |
| EOF | A new bytecode format for safer contract execution |
| RIP‑7212 | Support for secp256r1 keys used in modern secure devices |
Porto is a TypeScript-based library enabling passwordless login and transaction signing via WebAuthn (passkeys) or OAuth. It allows Web3 access without private keys, wallets, or extensions, simplifying adoption:
- Passwordless authentication using passkeys;
- Seamless integration with Viem/Wagmi with zero frontend code changes;
- Frictionless payments with no gas costs for users.
With Odyssey, developers can experiment with upcoming Ethereum features before they’re live on mainnet. Porto, in turn, provides a crucial step toward making blockchain interactions as simple as logging into Google. This stack is especially valuable for startups and dApp builders who want to offer users a seamless and intuitive experience. Ithaca doesn't just lower technical barriers — it redefines the relationship between people and protocols.
3. UX Innovations and Experimental Technologies
Ithaca actively explores new UX paradigms, particularly within the Odyssey testnet. The project experiments with protocols that bring blockchain interactions closer to Web2 usability. This includes streamlined login flows, reduced transaction friction, and enhanced safety in user operations.
Key UX experiments include:
- EXP‑0001: Account delegation via EIP‑7702 and RIP‑7212, enabling WebAuthn keys to sign transactions without wallets.
- EXP‑0002: Session-based non-extractable keys stored in IndexedDB, reducing the need for constant confirmations.
- Sequencer Sponsored Transactions: Transactions sponsored by a sequencer, removing the need for users to hold gas tokens.
These innovations allow users to forget about gas fees, seed phrases, and transaction errors. Ithaca is making Web3 as smooth as mobile apps, eliminating common points of friction that limit mainstream adoption. The project prioritizes not just developer needs, but the broader user experience. These experiments may help define the future standards of Ethereum and Layer‑2 networks.
4. Team, Funding, and Web3 Contributions
Ithaca was founded by Georgios Konstantopoulos (former CTO at Paradigm) and is backed by Paradigm with a $20 million investment. Advisors include Matt Huang (Chairman of Paradigm) and other notable figures from the Ethereum Foundation and DeFi ecosystem.
The team focuses not only on building its own stack but also on shaping open-source standards. Ithaca has contributed to the design and implementation of several key Ethereum proposals (e.g., EIP‑7702, RIP‑7212), underlining its commitment to decentralized innovation.
The project maintains an open engineering culture with public GitHub repos and transparent R&D. This promotes collaboration across the Web3 space and accelerates the adoption of new technologies. Ithaca views itself not just as a product company, but as an infrastructure platform for the next wave of DeFi innovation.
5. Conclusion and Development Outlook
Ithaca is more than a technology stack — it’s a strategic initiative that rethinks the foundations of interaction in Web3. By combining Layer‑2 infrastructure, account abstraction, passkey login, cross-chain bridges, and modularity, the project delivers the tools required for blockchain’s next growth phase.
With support from Paradigm, rapid development of the Odyssey testnet, new EIPs, and integration with platforms like Axelar and Ethereum, Ithaca stands out as a leading-edge infrastructure project. It remains open, developer-focused, and adaptable — all essential traits in a fast-evolving crypto ecosystem.
As demand grows for modular L2s and human-centric interfaces, tools like Porto and Odyssey will only become more relevant. Ithaca has already proven to be a hub for experimentation and protocol advancement. With a strong focus on security, performance, and long-term viability, it is poised to become a cornerstone of next-generation crypto infrastructure.
