The token fueling the Oasis Network.
In parallel to releasing tokenomics, we are also excited to share a little of the story behind the token itself — ROSE. The primary token for the Oasis Network, ROSE will fuel all transactions, staking, and delegation on the Oasis Network at Mainnet launch.
ROSE: A Symbol of Privacy
We wanted the token to stand as a representation for the network and Roses fit very well with this imagery. Historically they have often represented “secrecy”. Dating back to Ancient Greece, the Rose was seen as a symbol for secrets or privacy, used by Aphrodite as a gift in exchange for keeping the secrets of Gods.
In Ancient Rome this symbolism continued and the phrase “sub rosa” or “under the rose” was to mean “done in secret” or “under a pledge of secrecy”. This phrase and the symbol of Roses as secrecy extended throughout history with the British Tudors era where state secrets were decided in a room with a large rose hanging from the ceiling.
This fits well with our vision for the Oasis Network, which seeks to power the next generation of blockchain use cases through its unique capacity to support confidential computing and private data on the ledger.
More to come
We believe the ROSE token, along with the Oasis Network, will help usher in a new category of privacy-preserving applications that empower users to control and manage their data. This includes, for example, supporting a new concept of data rewards, where individuals stake their data with apps that want to analyze it — enabling a new, responsible data economy.
The ROSE token is also expected to power the next generation of DeFi where privacy will help unlock new use cases and markets — with the potential of expanding the reach of blockchain beyond early adopters and into the mainstream.
You can read more about ROSE and its utility and distribution in the latest token distribution document here as well.
We have more exciting news about ROSE and the Oasis Network coming your way. Join our Telegram channel or follow us on Twitter to stay up-to-date on the latest announcements, take part in community competitions, and more.