The Oasis Network: 2021 Overview
Oasis, a privacy-first Layer 1 proof-of-stake decentralized network has had an incredible year that includes a number of promising partnerships like the one with Google Cloud Platform - and in this 2021 Overview, we'll cover all of the important announcements that took place and the exciting developments to come. That said, Oasis has indeed achieved a lot this year, but there is much more ahead in its mission to create a responsible, user-owned data economy. So let’s have a look at what has been accomplished.
A Great Year for NFTs, Web 3.0, and More
Oasis really made inroads this year with its partnerships. Below we’ll briefly run through each of the key ones.
Oasis partnered up with Shyft Network, a compliance-focused network with the goal of building a powerful creditability framework on the Oasis Network and protecting users' commercial and transactional data.
We also saw the launch of MetaMirror, which is a project developed by Auth3 Network that introduced MBuddy. MBuddy is the first-ever Web 3.0 identity service that is aimed at converting existing social media data into assets that can be sold to buyers in a privacy-preserving format.
Oasis integrated with NFTbMarket, which will allow creators to release their non-fungible token (NFT) projects in the NFTb directly on Oasis. This integration will make NFTbMarket and Oasis one of the first multi-chain NFT marketplaces.
Further Oasis’ key alliance with Wormhole will allow users to move assets from Ethereum, Binance Smart Chain, Solana, Terra, and Polygon over to the Oasis Network and vice-versa - something that will prove to be instrumental in the blockchain space over the coming years.
Then there was the announcement of the LaunchGarden, which is the first launchpad built on the Oasis Network. Its presentation is scheduled to take place in January of 2022, so be sure to stay tuned for that.
Oasis Powers DeFi
In the decentralized finance space, we saw Oasis Network integrate with WePiggy, a DeFi asset lending market protocol, which unlocks powerful financial tools to token holders, and then another key partnership with Darwinia to bring the powerful, cross-chain bridge of the Darwinia Network to the Oasis Network, which would in turn help expand any cross-chain asset transactions.
In keeping with the DeFi realm, Oasis also connected with Knit Finance. This partnership was established with the goal of enabling cross-chain transactions through wrapping ROSE tokens, with the shared mission of bringing DeFi to the masses.
The Oasis Foundation established a partnership with the Conflux Network to help enable privacy-enabled DeFi alongside providing support for applications within the Conflux network through the utilization of the powerful privacy technology on Oasis.
We also saw a number of other DeFi based partnerships, including one with UTU. The goal here is to bring UTU's trust infrastructure to the privacy-focused blockchain of Oasis. This means that UTU’s oracles can be incorporated into DeFi apps built on top of Oasis.
Then also came the news of the 50K $YUZU airdrop, alongside the launch of YuzuSwap, which will be the first DEX built on Oasis’s Emerald. This will be a key component within the Oasis Network’s DeFi ecosystem.
Additionally, Oasis partnered up with Thetanuts.finance, which is a DeFi derivatives protocol that will bring DeFi 2.0 to Oasis Emerald ParaTime.
Even More Great Partnerships With Major Players
Moving along, Oasis Protocol also partnered with Personal.ai to launch a decentralized, private human memory network through the utilization of artificial intelligence and blockchain technology.
An important partnership with the popular dApp platform DappRadar was also established in 2021, with the goal of advancing the next generation of dApps and providing support for DeFi entrepreneurs. Another key strategic alliance with Band Protocol was formed as well, with the goal of enabling mass adoption of open finance.
Then more recently, one of the biggest announcements included the partnership with MetaAI, which was formerly known as Facebook AI. Oasis and Meta will be working together on an application of secure computing technologies within AI and more news of this will be announced throughout the coming months.
Oasis Grant Programs
In terms of the grants, we saw the launch of the Bloom Grants Program, which was specifically developed to help enable the growth of the Oasis ecosystem, and help kickstart the development of projects in a range of different areas. The Oasis Foundation also conducted a partnership with Spearx to offer grants up to $50,000 that support women-led blockchain projects. Then we also saw the announcement of the $3.5 million Oasis – MetaMind Blockchain Accelerator, with the goal of fostering the development of privacy and DeFi applications. Teams can apply for participation until January 10, 2022.
To top it off, there was the announcement of a $160 million Oasis Ecosystem fund, with the goal of fostering the growth as well as the development of Oasis applications, including DeFi, NFTs, Metaverse, data tokenization, data DAO, data governance, and data privacy applications.
Important Technology and Engineering Updates
When we take a look at the technology and engineering developments, the Oasis-Eth ParaTime went live on the Oasis Network and enabled backward compatibility with Ethereum, with lower gas fees and better performance.
We also saw the launch of Parcel Beta, which helps application developers take advantage of the latest in privacy and blockchain technology with the goal of building trusted products.
Cipher ParaTime went live on the Oasis Mainnet. Cipher is a key building block that will unlock the full value of DeFi through bridging beyond early adopters to the mass market through scalability as well as privacy. Additionally, Oasis also launched the Emerald ParaTime on the Mainnet.
Oasis introduced the official Oasis ROSE wallets - secure place to store and stake the ROSE tokens.
Oasis Protocol in the News
In terms of media coverage, we saw some really exciting things like Dawn Song, the CEO and co-founder of Oasis Labs, getting listed on the Cointelegraph top 100 notable people in blockchain in 2021.
Additionally, Forbes mentioned how Oasis is working towards launching and securing the first genomic NFT on the Oasis Network through a collaboration with Nebula Genomics and AkoinNFT. This is another example of how forward thinking Oasis is, and a sign of incredible things to come in the future.
Again, it’s been a great year for Oasis and its entire ecosystem, and the coming year promises to be even more productive and exciting. If you’d like to discover how you can participate in the Oasis ecosystem and earn rewards, have a look at how you can do that right now through Everstake.
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