Oasis Network — A Privacy-enabled Blockchain Platform for Open Finance and a Responsible Data Economy
The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy, designed for the next generation of blockchain. The Oasis Network, with its high throughput and secure architecture, can support private, scalable DeFi, reinventing Open Finance and bringing it to a wider audience beyond traders and early adopters. Its unique privacy characteristics have the potential to not only revolutionize DeFi, but also to produce Tokenized Data, a new sort of digital asset that allows users to own the data they generate and earn incentives for staking it with applications, thereby establishing the first ever responsible data economy.
Why the Oasis Network?
First Privacy-Enabled Blockchain: The Oasis Network is the world’s first scalable, privacy-enabled blockchain. ParaTimes on the Oasis Network can leverage confidential computing technology such as secure enclaves to keep data confidential — unlocking new use cases and applications for blockchain.
Scalable, Private DeFi: The Oasis Network’s privacy-first design can expand DeFi beyond traders and early adopters — unlocking a new mainstream market. Plus its innovative scalability design brings fast speeds and high-throughput to DeFi transactions.
First to Enable Data Tokenization: The Oasis Network can Tokenize Data, unlocking game changing use cases for blockchain, and an entirely new ecosystem of apps and projects on the network — powering the next generation of privacy-first applications.
Rapidly Growing Community: The Oasis Network has a thriving community of close to a thousand node operators, developers, enterprise partners, ambassadors, and nearly ten thousand community members engaged in global social channels.
Top-Tier Team: The Oasis Team is made up of top talent from around the world with backgrounds from Apple, Google, Amazon, Goldman Sachs, UC Berkeley, Carnegie Mellon, Stanford, Harvard and more — all committed to growing and expanding the impact of the Oasis Network.
Technology Highlights
- Separates consensus and execution into two layers — the Consensus Layer and The ParaTime Layer — for better scalability and increased versatility.
- Separation of consensus and execution allows multiple ParaTimes to process transactions in parallel, meaning complex workloads processed on one ParaTime won’t slow down faster, simpler transactions on another.
- The ParaTime Layer is entirely decentralized, allowing anyone to develop and build their own ParaTime. Each ParaTime can be developed in isolation to meet the needs of a specific application, such as confidential compute, open or closed committees, and more.
- The network’s sophisticated discrepancy detection makes Oasis more efficient than sharding and parachains — requiring a smaller replication factor for the same level of security.
- The network has broad support for confidential computing technology. The Oasis Eth/WASI Runtime is an open source example of a confidential ParaTime that uses secure enclaves to keep data private while being processed.
TOKENOMICS
The ROSE native token is a capped supply token. The circulating supply at launch will be approximately 1.5 billion tokens, and the total cap is fixed at 10 billion tokens.
The ROSE token will be used for transaction fees, staking, and delegation at the Consensus Layer.
~2.3 billion tokens will be automatically paid out as staking rewards to stakers and delegators for securing the network over time.
Token Distribution
The quantity of ROSE tokens reserved for various network functions, as a percentage of the total existing token supply, approximately follows the distribution below.
Token Distribution Glossary
Backers: Tokens sold directly to backers prior to mainnet launch. The vast majority of these sales took place in 2018.
Core Contributors: Compensation to core contributors for contributing to the development of the Oasis Network.
Foundation Endowment: Endowment to the Oasis Foundation to foster the development and maintenance of the Oasis Network.
Community and Ecosystem: Funding programs and services that engage the Oasis Network community, including developer grants and other community incentives by the Oasis Foundation.
Strategic Partners and Reserve: Funding programs and services provided by key strategic partners in the Oasis Network.
Staking Rewards: Rewards to be paid out on-chain to stakers and delegators for contributing to the security of the Oasis Network.
Circulating Supply
Not all tokens have been released publicly or will be released publicly by Mainnet launch. Due to release schedules and locks, only a fraction of the total existing token supply will be in circulation at the time of Mainnet. Approximately 1.5 billion tokens out of a fixed supply of 10 billion tokens in total will be in circulation immediately upon Mainnet. In addition, a portion of Foundation tokens that are not in the circulation supply at launch are staked on the network. Any staking rewards earned will go back into the network via future validator delegations, network feature development, and ecosystem grants.
Tokens set aside for Staking Rewards will be disbursed in accordance with on-chain mining mechanisms, which are calculated based on how many blocks are produced, how many nodes are participating in staking, and how many tokens are staked etc. The remaining allocations will be disbursed according to the following release schedule:
Staking Incentives
Given the Oasis Network’s founding vision to become a world-class, public, permissionless blockchain platform, the contributing team at Oasis has been focused on ensuring that setting up a node is as seamless as possible for all community members. To that end, we’ve put a lot of thought into making sure our staking conditions minimize barriers to entry and encourage meaningful engagement on the network. Some key parameters include:
- Number of validators to participate in the consensus committee (and receive staking rewards): 110. Validators will be based on the stake weight on the network.
- Minimum stake: 100 tokens per entity
- Selection to the consensus committee: Each entity can have at most one node elected to the consensus committee at a time.
- Staking rewards: The network is targeted to reward stakers with rewards of between 2.0% to 20.0% depending on the length of time staked to provide staking services on the network. In order to be eligible for staking rewards per epoch, a node would need to sign at least 75% of blocks in that epoch.
- Slashing: At the time of Mainnet launch, the network will only slash for forms of double-signing. The network would slash the minimum stake amount (100 tokens) and freeze the node. Freezing the node is a precaution in order to prevent the node from being over-penalized. The Network will not slash for liveness or uptime at launch.
- Unbonding period: The network will have a ~14 day unbonding period. During this time, staked tokens are at risk of getting slashed for double-signing and do not accrue rewards during this time.
- Consensus voting power: The current voting power mechanism is stake-weighted. This means that the consensus voting power of a validator is proportional to its stake. In this model, the network will require signatures by validators representing +2/3 of the total stake of the committee to sign a block. Note that in Tendermint, a validator’s opportunities to propose a block in the round-robin block proposer order are also proportional to its voting power.
INVESTORS
Between 2018 and 2020 Oasis has raised over $45 million from backers including:
The Oasis Network is a Layer 1, proof-of-stake, decentralized network. It has two main components, the Consensus Layer and the ParaTime Layer. The Consensus Layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a decentralized set of validator nodes. The ParaTime Layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with shared state.
