Oasis Protocol Adds Shyft Network in Bid to Attract Institutions to DeFi

China’s state-sanctioned blockchain infrastructure provider BSN is adding cross-chain protocol Polkadot, decentralized cloud data startup Oasis and China-based project Bityuan to its network.

The funds are earmarked for DeFi, NFT, tokenization and metaverse projects that are building on the Oasis Network. Developer group Oasis Foundation has launched a $160 million ecosystem fund to bootstrap promising projects building on top of Oasis Network, a privacy-enabled blockchain with a focus on decentralized finance (DeFi) and the so-called data economy.The fund was established to attract new developers to the Oasis Network so that they can build the next generation of decentralized applications that support DeFi, nonfungible tokens, data tokenization and the metaverse, Oasis....

A renewed focus on DeFi could drive traffic for the Oasis Network. The Oasis Foundation, an offshoot of Oasis Network developers Oasis Labs, announced in a blog post on Friday that decentralized finance (DeFi) insurance and coverage provider Tidal Finance will be implementing a version of their platform on the Oasis Network. The blog post noted that insurance will be important for users of the platform as Oasis scales its DeFi offerings, and that by working with Oasis’ “confidential smart contracts” Tidal will be able to deploy new claims methods, such as “anonymous, democratized voting”....

ROSE price is on the rise thanks to a $160 million ecosystem fund that helped facilitate the launch of the first DeFi and NFT projects on Oasis Network. High transaction costs have been a thorn in the side of the top blockchain protocols for years as both Bitcoin (BTC) and Ethereum (ETH) have seen the average cost of conducting token transfers skyrocket during times of network congestion and high demand. One layer-one (L1) protocol that has been gaining traction in recent months that seeks to offer a low-cost solution to high fees is the Oasis Network (ROSE), a privacy-focused L1....

Users report that their sessions were disconnected when trying to interact with Oasis with allegedly high risk wallets. According to a new community Discord post on Thursday, decentralized finance platform Oasis.app says that sanctioned addresses will no longer be able to access the application. As a result of the change to the terms of service, wallets flagged as high risk are prohibited from using Oasis.app to manage positions or withdraw funds. Instead, such category of users must interact directly with the relevant underlying protocol where funds are stored or find another service.In....