High transaction costs have been a major obstacle in leading blockchain protocols for many years. For both Bitcoin and Ethereum, average transaction fees skyrocketed in times of network congestion and high demand.
One protocol that has gained importance in recent months in the search for a cost-effective solution is the Oasis Network (ROSE), a data protection-oriented Layer 1 blockchain created with Cosmos SDK and developed for open finance and responsible data management .
Data from TradingView shows that ROSE price has risen 176.5% since hitting a low of $ 0.169 on October 28, to a new all-time high (ATH) of $ 0.466 on November.
ROSE / USDT 4 hour chart | Source: TradingView
The three optimistic drivers for ROSE include the launch of the $ 160 million Oasis Ecosystem Development Fund, the launch of the network’s first NFT project, and the Decentralized Application Ecosystem (dApps). ) with a rapidly growing community.
Oasis. Fund for the development of the ecosystem
The most important factor in increasing ROSE’s price momentum is a notification through the US $ 160 million Oasis Ecosystem Development Fund on November 17th, which aims to help founders and projects build on the Oasis network and ecosystem.
The development fund is supported by a wide variety of partners and investors including Draper Dragon, Hashed, FBG and Pantera Capital with the aim of expanding the ecosystem in many areas such as DeFi, NFT, Metaverse, data encryption data, data DAO, data governance and data protection applications .
An important factor that attracts projects for Oasis is the built-in data protection features that support secret smart contracts, the ability to process transactions at 99% lower costs compared to Oasis. Costs on the Ethereum network, which creates an additional incentive, are promising Applications to win.
Privacy is especially important in DeFi settings, and projects that encourage it can help ease the transition of stakeholders from centralized finance to decentralized options.
NFT to Oasis
The second reason for the ROSE price is release Oasis AI Rose NFT, the first NFT project on the net.
“Is it a bird – an airplane – a superwoman? No, it’s the Oasis AI ROSE NFT drop from the metaverse! If you’ve been whitelisted for the Airdrop, check your wallet to see if you received one of the first NFTs based on Oasis. “
To further interact with the community and showcase the network’s NFT capabilities, 999 AI-generated roses were minted and sent to users.
In addition to starting the first NFT project, Oasis recently also signed a partnership with NFTb, a multi-chain NFT and DeFi platform. NFTb currently offers a curated NFT marketplace specially designed for digital artists, gamers and music enthusiasts, as well as the first dual NFT and token launch board to help developers get their projects off the ground.
A constantly growing ecosystem
The third factor that adds value to ROSE is an ever-growing ecosystem of dApps and a growing community of active users.
On December 16, it was reported that YuzuSwap, the first decentralized exchange on Oasis, raised $ 2 million to become the “base of the Oasis DeFi ecosystem.”
The network recently received its first general project launch pad with the release of LaunchGarden, a platform that gives projects built on Oasis access to its expanding community to attract early adopters, for example.
LaunchGarden will also allow users to put ROSE or participate in airdrops for early access to projects that are launched on the platform.
Oasis has also benefited from Emerald’s November 22nd Mainnet launch, an Ethereum Virtual Machine (EVM) compatible ParaTime solution that will enable the connection of tokens between Ethereum and the Oasis network.
With the growth of applications on Oasis, the network’s support community has now exceeded 100,000 users and is showing no signs of slowing down as new projects continue to be launched.
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