Oasis Protocol: Perfect Recipe for Institutional DeFi
A key issue for institutional and mainstream adoption of decentralized blockchain is privacy
For example, a bank will not participate in on-chain transactions if 3rd parties can see their wallets and activities
For crypto to go to the masses, privacy has to be part of that future
OasisProtocol is one of the key players trying to fill this role
Overview
Oasis is a L1 protocol with privacy capabilities to enable adoption of Institutional DeFi and a data economy while being highly scalable with instant transaction finality and high throughput
The chain is highly scalable with its layering architecture using a Consensus and ParaTime layer
The Consensus layer validates transactions from each ParaTime
The ParaTimes are where all the smart contract execution occurs and the $ROSE coin is used for transaction fees
This scalability architecture results in a highly competitive chain with near-instant transaction finality and high throughput
Each ParaTime is optimized for its desired application with speed and security trade offs 3 ParaTimes built by the Oasis Foundation
Emerald: EVM Compatible
Cipher: Confidential Smart Contract
Parcel: Confidential Data Storage & Compute Note, anyone can build a ParaTime
With the value prop of Oasis, the team has been able to garner a $200mm ecosystem fund and build a large ecosystem that is continuing to grow
The Oasis scaling solution is the perfect combination of scalability, privacy, and chain optimization for
Institutional DeFi KYC / credit scoring and risk models can be executed in a privacy-preserving environment
Other uses cases of privacy on Oasis
Key word: Data tokenization
“stake” data on applications to earn a return for various data analytic applications while keeping the data private
Examples:
@binance: share threat intelligence data to compare with other exchanges
Patients sharing healthcare data
@NebulaGenomics analytics on customer data
All while retaining control & confidentiality of the data!
Current State of the Network
The potential of Oasis & $ROSE is huge
Meanwhile they have a $200mm ecosystem fund and a market cap of $1bn
Chain activity is just getting started for the network
First
Crosschain bridges were launched in January with @wormholecrypto,
@CelerNetwork, and @MultichainOrg
Second
DeFi went online in January for @OasisProtocol, first with EVM applications
@Yuzu_Swap deployed in January on the Emerald ParaTime and @OasisProtocol TVL has reached ~$157m in 2 months
And other DeFi deployments have been announced with @wepiggydotcom, @GemKeeperDeFi, and @fountainprot on the Emerald ParaTime (EVM)
Only 10 DeFi dApps are on @OasisProtocol according to @DefiLlama but more are coming everyday
Third
All this DeFi is on Emerald, but big things are coming with the other ParaTimes in 2022:
Cipher launch of Confidential Smart Contracts allowing for private DeFi applications
Parcel Mainnet Launch for data tokenization
Fourth
And the team is proposing a network upgrade that will increase the performance of both the consensus layer and ParaTimes
Tokenomics
With a supply cap of 10bn, $ROSE is used for staking, governance, and transaction fees
Team
And lets not forget that Oasis has a top-tier team of researchers, security experts, and privacy advocates from leading firms/universities such as Google, Stanford, Apple, UCBerkeley, etc
Conclusion
OasisProtocol has the characteristics of top chains with security and high transaction throughput
But even better is the privacy capabilities that will unlock many more use cases for DeFi and data economies
DeFi is just beginning and Private Smart Contracts are around the corner
As these apps are deployed this year, we should start to see more transaction volume and $ROSE demand on OasisProtocol
In it for the tech $ROSE
NFA