Oasis Foundation
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Oasis Foundation

DEFI is Here! Wormhole Bridge and YuzuSwap now live on Oasis Network Mainnet.

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DeFi is live on Oasis! It is a massive day for the network and the community. The YuzuSwap DEX allows users to participate in liquidity pools, swap, trade, and earn rewards with high APY, while the Wormhole bridge connects Oasis with almost $1b in TVL across Avalanche, BSC, Terra, Ethereum, Polygon and Solana.

Read our docs to learn how to use the bridge to transfer ERC20 assets to Oasis.

YuzuSwap leverages the low fees and the huge throughput of up to 1k TPS of Emerald — The EVM compatible ParaTime. The goal for YuzuSwap is to become a cornerstone DeFi application on Oasis, built to be composable, open, with safety and fairness as its core values.

We’re happy to say that YuzuSwap has been built by our community, and we hope it fulfills that goal of becoming the cornerstone DeFi application for the Oasis Network.

Why should you use YuzuSwap?

Best in class liquidity and trade mining rewards

We all come to DeFi for different reasons. Many for the philosophy, but we all stay for the rewards, of which there are two ways to mine for them on the platform:

  • Trading — Trade in incentivized pairs, and you’ll earn a balance of TPST (Trading Pool Share Token) that will continue accruing with every block until withdrawn.
  • Providing Liquidity — Support the network by providing liquidity and earning LP tokens in return
  • Yields for both will, of course, vary based on your proportion of the pool

Read more about the liquidity and trade mining systems here.

Fair

YuzuSwap’s fair launch system doesn’t open the floodgates and release all the tokens to mysterious early institutional investors. It slowly and methodically releases the same number of tokens with every new block (every 6 seconds).

The total token supply is capped at 500m, and with each block:

  • 50 YUZU will be released
  • 37.5 will go to the liquidity and trade mining pool
  • 5 will go to the team
  • 5 to the foundation
  • 2.5 to early backers

Safe

80% of the transaction fees collected will go to a Smart Contract. That contract actively works to support and contribute to a stable token price. Whenever the token price drops below the 72-hour average, the Smart Contract will buy YUZU. The other 20% will go to the DAO governance vault, where all YUZU token holders will be able to vote on how it is allocated.

Potential uses for the DAO governance vault could include buying insurance to further protect YuzuSwap users, incentivizing developers to build more tooling for YuzuSwap, or even being used as launch capital for new protocols on the Oasis Network.

How to get started

With YuzuSwap now live, you can get started right away. Just head to yuzu-swap.com, where you can make a trade, add liquidity and begin to interact with the Oasis Network.

For many of you, it may be a familiar and comfortable feeling, but if you haven’t yet: “Welcome Home to The Oasis.”

Join the community

Don’t forget to join the community to ask any questions, talk strategy, and get involved. Oasis has a lively community on Slack, Discord, or Telegram.

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A better internet is only a matter of time. The Oasis network is trying to fix what’s broken by giving users back control of their data using a combination of secure compute and a proof-of-stake blockchain.

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