For the better part of the last decade, crypto projects were emerging throughout the industry seeking to offer unique use cases, solve problems in a variety of industries, and become dominant coins and tokens in such industries. However, things changed in 2020, and the digital currency industry became a bit more focused.
Of course, that does not mean that it stopped focusing on building connections with all the other industries out there, but it did start seeing major advances in its own backyard, specifically the financial industry.
We are talking, of course, about the DeFi blow-up, which caused the entire industry to look towards development platforms — first to Ethereum, and then to many others that followed. DeFi, or decentralized finance, was bringing protocols that offer to decentralized banking services and allow users to earn passive income, without risking their coins through trading.
Some risk is still there due to volatility, and most activities involve committing your coins to a lockup for a certain period of time, but for those who believe in the cryptos they bought, this is nothing new. Up until DeFi, HODLers had to rely on the price of their chosen coin surging in due time. Now, they also have the possibility of earning while they wait for it to happen.
With a situation like that, countless new development platforms started emerging and blowing up, and existing ones started creating huge incentives for devs and projects to come to their blockchains and participate in their networks. One of the most recent examples is the Oasis Network, which is privacy–enabled blockchain platform for open finance and a responsible data economy. According to its recent announcement, the protocol is just now introducing a new $160 million fund to support projects on its network.
Oasis Protocol Introduces a $160 Million-Large Fund
According to its announcement published on November 17th, Oasis Network has introduced a $160 million Oasis Ecosystem Fund. The fund is supported by a number of top industry backers, and it is dedicated to helping founders and projects within the network’s ecosystem.
Some of the company’s partners who have invested into the fund include the likes of Pantera Capital, AME Cloud Ventures, NGC Ventures, Dragonfly Capital Partners, Kenetic Capital, Draper Dragon, Jump Capital, Electric Capital, Hashed, FBG, and of course — the Oasis Foundation itself.
The Fund will power the following wave of Oasis apps, including DeFi apps, but also NFTs, which were the dominant trend of 2021, and Metaverse, which exploded in 2021 but is expected to see its main progress as the most dominant trend of 2022. Of course, data tokenization, governance, data DAO, privacy apps, and all similar projects and protocols will be supported and encouraged, while also empowered by Oasis tech’s unique capabilities.
The network is more than scalable enough to empower DeFi, and its other features and capabilities appear to be ideal for contributing further. The project’s gas fees are 99% lower than those on Ethereum, and thanks to processing speeds, every activity has instant finality. More transactions that can be handled at once than what Ethereum could ever offer, plus great protection of privacy and defense against MEV.
Yahoo co-founder, Jerry Yang, stated that Oasis is the leading privacy-enabled, scalable blockchain platform and that he is a strong believer in its vision, showing that the project has support of many influential companies out there.
The fund will not only be used for supporting the new projects, however but also the existing ones.
The $160 Million Ecosystem Fund will have its Own Event
Another announcement, published November 25th, revealed that the project plans to hold an event regarding the fund, and offer everyone in the community to find out what will happen with the fund. The event will be held on December 1st of this year, starting at 6 pm PST, and it will be the first-ever panel event for Oasis.
Alongside the project, the event will also feature members of the Fund who will be discussing strategy for the fund, their predictions regarding the future of blockchain, and what they see as critical components that need to be built for Web3 to seize more market share.
In other words, the event will be very big, and very important, and certainly not one to be missed.
The event itself will kick off at 6 pm PST, as mentioned, with the introduction from Linda Lu, the Oasis Head of Ecosystem. After that, the project plans to dive into the background of what attracted investors to the project in the first place, and what made them stay.
Following this segment, the panel will be officially open, and up for discussing topics such as how to bring more of the traditional finance model to DeFi, as well as the direction in which the blockchain industry is going.
The project’s team expects that BUILDers will have plenty of valuable insight to note, that might be of crucial importance for those wishing to grab a portion of the fund for their own project. Not to mention the importance of this information for community members and retail investors who might get a hint of what projects to focus on when diversifying their portfolios, who to support, and alike.
The event will be concluded with a Q&A session, where participants will have full access to investors and their insights. This also proves a valuable opportunity to ask questions regarding the future of blockchain, crypto, trends, developments, and anything else that the community might have to ask.
Anyone interested in attending the event can simply sign up for it by clicking here and registering for attendance. Alternatively, they can watch the Livestream on YouTube.
Once again, this is an excellent opportunity to hear the opinions of experts and figure out the direction in which the industry might be moving, and not one to be ignored.
What is Oasis Network About?
Oasis Network comes as a new era blockchain offering private and scalable solutions for the DeFi sector. Furthermore, Oasis has a bigger goal of expanding DeFi beyond early adopters to a mass market. It offers features such as private smart contracts, high scalability, as well as the ability to tokenize data.
As such, it can bring forth a variety of new use cases for users to benefit from, such as private lending or undercollateralized loans. Data tokenization is a particularly interesting aspect of the network, as it comes from a unique combination of blockchain technology and confidential computing. As such, it enables a new paradigm called Tokenized Data, which users can earn rewards from simply by choosing to stake their data with apps that are interested in analyzing it.
Collecting user data for analysis, statistics, business plans, and alike, has been done by companies for years. Social networks, and specifically Facebook, have gotten in trouble for allowing it while leading users to believe that their data is safe, time and time again.
However, the centralized state of the internet will ensure that your data will be collected by these advertising and analysis companies. It might be bought from your favorite website, collected via bots, or obtained in some other way, but they will get it. So, why not monetize it and be in control of what data you provide, while simultaneously, you could get paid for offering it.
Advertising itself is not bad, and proper advertising can be quite good. The problem is when advertising firms have only half of the picture about your interests, so they keep spamming you with ads that are not truly relevant. By cutting out the middlemen through projects like Oasis Network and their Tokenized Data programs, you can get paid for providing the relevant data that you are willing to offer, and keep your most sensitive information confidential.
In addition to all that, the project also has something called Parallel Smart Contract Layers, which is its scaling architecture. Of course, scaling is crucial for projects such as Oasis, which aim to attract as many projects and users as possible and still wish to continue running smoothly and be cheap enough for all those users to decide to stay on their networks. After all, we have seen how problematic even the best networks can be when they are too slow and their fees get too expensive — this is what is happening to Ethereum right now, which is rapidly losing users.
To learn more visit our How to Buy Oasis Network guide.