Oasis AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here
Jon Poole ( Oasis Community&BD) @CoincidenceJon
Luca Cosentino (Oasis DeFi lead) @lcosent
Andrew Miller (Oasis Product Marketing Manager) @oasismiller20
Oasis DeFi Lead, Luca Cosentino
Hi everyone
CryptoDiffer team
Let`s start from introduction:
Q1.Can you introduce yourself to our community ?
Oasis DeFi Lead, Luca Cosentino
I am Luca, I am Italian and live in SF. I lead Oasis’ efforts in DeFi.
My background is in Product at P&G, AmEx, and Google. I moved to the US for an MBA at UC Berkeley. Having experienced how large enterprises and consumers deal with data, I had an idea around creating a better technology that creates a fair way to enable data collaborations. I met with prof. Dawn Song at UC Berkeley while she was working on starting Oasis; I absolutely loved the vision and decided to join her company.
Oasis Community & BD, Jon Poole
Good morning everyone 👋🏼! I’m Jon Poole, Community Manager and Business Development for Oasis! I’ve been part of Oasis since June 2018. My blockchain background comes from the private investor side, before shifting into CM & BD. I was introduced to Oasis, and the rest is history 🌹. When I understood what Dawn Song’s vision had in store for blockchain, like so many of our team, I felt I had to be a part of it!
Oasis Product Marketing Manager, Andrew Miller
Hi folks! I am Andrew, I run product marketing here at Oasis, I have a background working in startups, and have always been passionate about privacy — so Oasis and it’s vision really resonated with my interests. I joined about two years ago.
CryptoDiffer team
Q2: Can you briefly tell us what is Oasis in 3-5 sentences? Maybe you can share some insights about OasisxDeFi:)
Oasis Product Marketing Manager, Andrew Miller
Ah always so hard to summarize in 3 sentences but I’ll do my best ;).
The Oasis Network is a privacy-enabled blockchain for open, decentralized finance, and a responsible data marketplace. The network is scalable, versatile, and able to support new use cases in DeFi and Blockchain more broadly by leveraging it’s unique ParaTime architecture and support for end-to-end privacy of data.
The network just launched its Mainnet Beta, which means the network is live but with transfers disabled — meaning Mainnet is hopefully coming soon!
CryptoDiffer team
Q3: Let`s now talk about upcoming plans for Oasis?
Oasis Product Marketing Manager, Andrew Miller
Sure! There is a lot going on in the Oasis Community right now. Like I said, we’re currently in a Mainnet Beta phase. The network is live and active but with transfers disabled. Mainnet is just around the corner. With that in mind, we’ve got a lot of exciting activities going on.
– Second State just launched a new ParaTime, and we’ve got an ongoing Hackathon where folks can earn rewards for completing challenges: https://medium.com/oasis-protocol-project/the-oasis-second-state-community-hackathon-3c146b3b12a5
– We’ve got weekly Community Cup challenges on our Telegram channel here: https://t.me/oasisprotocolcommunity
And then more broadly we’ve been announcing partnerships and ecosystem grants with a variety of exciting projects like Nebula Genomics, Binance & the CryptoSafe Alliance, and more. We’ve got more partnerships and exciting announcements coming soon, so stay tuned 🙂
Oasis DeFi Lead, Luca Cosentino
Additionally, we are focusing on Open Money and Open Data, on top of on creating a very strong network (with validators). We think this has 3 phases:
1. Build a strong decentralized network by attracting top node operators
2. Build a strong development platform by attracting main services and protocols
3. Increase adoption of the network by attracting Dapps
Attracting validators and creating the right incentives for token holders to stake is a priority of every blockchain project. Our Mainnet Beta gave really convincing answers.
The creation of a network of protocols and services that are consumable via our network is also going very well – our ecosystem is extremely rich.
Over the next couple of weeks we will release extremely positive news that show how our platform is also growing in attracting Dapps, which is an incredibly great achievement considering we just released our Mainnet Beta
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
How is ROSE token used? How to keep the motivation for holding ROSE tokens long term?
Oasis Community & BD, Jon Poole
We believe in strong partnerships to add value to the growing Rose token ecosystem. Backed by strong token metrics and use case!
The token is actively being used by real world use cases!
https://medium.com/oasis-protocol-project/introducing-rose-the-oasis-network-token-cee031b5a532
Cryptodiffer Community
How is ROSE token used? How to keep the motivation for holding ROSE tokens long term?
Oasis DeFi Lead, Luca Cosentino
The ROSE token will be used for transaction fees, staking, and delegation at the Consensus Layer.
Cryptodiffer Community
What exactly is the Consensus Layer, a secure network where people control their personal data and even earn income from it seems like a dream. How did Oasis Labs achieve this?
Oasis Community & BD, Jon Poole
Consensus layer is exactly as it sounds, the later for consensus. What is different is separating consensus from computation. Splitting away computation allows you to create ParaTimes with or without privacy!
Cryptodiffer Community
What does Open Money and Open Data mean?
Does it have benefits to DeFi?
Oasis DeFi Lead, Luca Cosentino
Open Money are DeFi are equivalent. We think that Open Money better represents the inudstry because the promise is to create a financial system open to everyone.
Open Data reflects the idea that data should be private and open at the same time; private, because users will have control; open, because (with user consent) data should be open to everyone and not to few.
Cryptodiffer Community
One of the advantages of the blockchain is that it avoids the issue of double spending. By using multiple ParaTimes simultaneously, you are not in risk of double spending? Exactly how does the ParaTimes mechanism work? This type of verification makes it more scalable than traditional blockchains like BTC and ETH?
The Oasis ecosystem is very large but do you think it has the capacity to replace the ETH network? Does Oasis have the ability to build Dapps and develop DeFi projects using this blockchain? What are the biggest limitations of Oasis? Do you think this can be a solved in the future?
Oasis Product Marketing Manager, Andrew Miller
I’ll answer your second question first :). The Oaisis Network has the capacity to really replace any Layer-1 protocol today (and platforms used on the centralized web more broadly). Our ParaTime architecture allows multiple smart contract layers to exist simultaneously. For example, Second State just built a ParaTime that’s backawards compatible with Ethereum. That means Ethereum-based DApps can run on the Oasis Network, but with better performance (nearly >10x) and much lower gas fees (<1%). Plus with the Network’s support for privacy, the Oasis Network can just do things that Ethereum can’t, such as keep smart contracts and the data they use confidential. Second State is just one example, you can design a ParaTime to run DApps from other chains as well, or build a new ParaTime that’s faster and more scalable than existing ones. The sky is the limit, as they say 🙂
If you’d like to earn rewards and learn more about the Second State Ethereum ParaTime on Oasis, check out our recently announced Hackathon here: https://medium.com/oasis-protocol-project/the-oasis-second-state-community-hackathon-3c146b3b12a5
Cryptodiffer Community
1. Tech projects always follow a curve of adoption, which starts from early adopters. What steps are Oasis Network taking to create a high usage, interests of participants, and high speed of the transactions.
2. Is Oasis Network Ambassador program open to Africans and what are the incentives attached to being an ambassador?
Oasis Community & BD, Jon Poole
We are on week 8 of our Community cup hosted through our Main Telegram channel with (https://t.me/oasisprotocolcommunity) lots of fun interactive ways of engaging and earning Rose tokens (including a weekly lottery), we also have many Country Specific Community Channels run by Ambassadors 💪🏼🔥
Cryptodiffer Community
Why does Oasis lab believes yield farming is not here to stay, despite being involved in DeFi?
Oasis recently announced major partnership and projects being built on the network. Can you share some of this with us and how does it benefit Oasis ecosystem?
Oasis DeFi Lead, Luca Cosentino
Ethereum has some distinctive characteristics and some limitations. What happened is that traders and miners have used these characteristics to their advantage; the direct effect has been a strong increase in fees. This has only been possible becasue of the presence of non-sustainable yields that were offered by layering rewards on the rewards on the rewards. To some extent, a lot of liquidity has been fabricated by collateralizing collaterals that were loans in other debt positions. I think we both agree that it’s just a matter of time before the castle falls and evolves into something else. Composability of protocols is definitely one of the primary benefits of DeFi, but it should be done responsibly.
Cryptodiffer Community
On moving forward through your roadmap, what are your most important next priorities? Does Oasis team have enough fundamental ( Funds, Community, ect ) to achieve those milestones?
Oasis Product Marketing Manager, Andrew Miller
The next big milestone for the network is Mainnet! This will happen once node operators turn transfers on for the network. Meanwhile, the Oasis team is focused on support the growth of the community more broadly. We’re working with various partners to build new ParaTimes, integrate new DeFi tooling, and support new DApps development. Many more announcements coming on that front so stay tuned.
Cryptodiffer Community
For any Crypto and blockchain projects and platforms. Security, scalability and interoperability are the most important factors. So, can you explain what technologies Oasis uses in its project to make Oasis safe, extensible and interoperable?
Oasis DeFi Lead, Luca Cosentino
This is a very broad question that requires to read the Oasis whitepapers. But in short, we leverage:
– decentralized consensus
– parallel runtimes (paratimes)
– secure enclaves
Cryptodiffer Community
On moving forward through your roadmap, what are your most important next priorities? Does Oasis team have enough fundamental ( Funds, Community, ect ) to achieve those milestones?
Oasis Community & BD, Jon Poole
Simply put, yes we do (we could always use more community 😉)! Next step is Mainnet 🚀and we are extremely excited and bullish 🚀 Come earn some Rose tokens before launch!
Cryptodiffer Community
Can Oasis run corporate Paratimes with node launch restrictions? Can one node run more than 1 Paratimes?
Oasis Product Marketing Manager, Andrew Miller
Yes! ParaTimes can be built to meet the needs of any use case. For example, a corporation could make their own ParaTime that only allows their approved Nodes to join, or you could build an entirely open ParaTime. It’s really up to the ParaTime Developer to decide. Regardless of the ParaTime design, the consensus layer will be a decentralized hub that all ParaTimes must report back to.
In theory a Node could run in multiple ParaTimes, but practically you’d likely run into some issues. (e.g. the node may need to be available for two ParaTimes at the same time)
Cryptodiffer Community
How do you see DeFi potential for Oasis right now!? What role do you think Oasis will takes to makes DeFi better in global usage?
Oasis DeFi Lead, Luca Cosentino
We think Privacy and Scalability solve majority of the current limitations. With privacy, traders can protect their strategies, institutions can protect their business relationships, and miners can’t act strategy to pump fees.
With Scalability, larger applications can integrate DeFi protocols, miners can’t pump transaction fees, smaller users can join without having to justify huge fees with high investments.
Cryptodiffer Community
Can you share your opinion on DeFi ? What steps are already being taken towards the future progress of $the platform ?
Oasis DeFi Lead, Luca Cosentino
We think Privacy and Scalability solve majority of the current limitations. With privacy, traders can protect their strategies, institutions can protect their business relationships, and miners can’t act strategy to pump fees.
With Scalability, larger applications can integrate DeFi protocols, miners can’t pump transaction fees, smaller users can join without having to justify huge fees with high investments.
Cryptodiffer Community
Do you have any new partneship recently? And what advantage of this partnership to the project?
Oasis Product Marketing Manager, Andrew Miller
Yes! We’ve got a lot going on. We recently announced major partnerships and projects being built on the network including a new privacy-first genome sequencing integration with Nebula Genomics where customers can own their genome data, a new CryptoSafe alliance with Binance to help combat crypto fraud, and a new Ethereum compatible compute environment built by Second State on the Oasis Network — allowing us to support all existing DApps on Ethereum with better performance and lower gas fees.
Here are links to each:
– Nebula Genomics: https://medium.com/oasis-protocol-project/giving-users-control-of-their-genomic-data-3354a3b89d56
– CryptoSafe Alliance with Binance: https://medium.com/oasis-protocol-project/oasis-labs-joins-forces-with-binance-to-launch-cryptosafe-alliance-and-decentralized-platform-for-1e3964d8531
– Ethereum compatible ParaTime: https://medium.com/oasis-protocol-project/second-state-launches-oasis-ethereum-paratime-on-oasis-network-f824f656503b
Cryptodiffer Community
In what way Oasis labs will help small Startups & Enterprises?
How easy & safe will it be for them to build on your platform?
Oasis Community & BD, Jon Poole
We have two programs to help builders! The DevAccelerator (https://oasisprotocol.org/devaccelerator) Program and the Grants (https://oasisprotocol.org/en/grants) program! We also have an Ethereum bridge that Second State has built (https://www.oasiseth.org/) so we can port over existing erc20 tokens adding Privacy and Scalability!
Cryptodiffer Community
Could you give us an overview of the tokenomics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?
Oasis DeFi Lead, Luca Cosentino
But in general, DeFi aims at creating a new financial system based on the same rules for everyone and not on a status, wealth or geography. We also believe in the marriage between DeFi and Data in order to establish reputation and expand credit, which is the primitive of every financial system
Cryptodiffer Community
What is the unique and attractive technology of Oasis Protocol? To be able to encourage and attract more Dapp developers to use OasisNetwork, is there a DeFi investment or development fund on OasisNetwork that you will create for them?
Oasis DeFi Lead, Luca Cosentino
Absolutely yes. We already have a grant program that is giving us tremendous results. We are working to expand it to further support DeFi applications. In the meantime, we are building super strong partnerships with majority of the players in the space (protocols/services/etc) to have a strong network of partners that we can offer to the apps built on top of our network
Cryptodiffer Community
What requirements for delegating ROSE token? Does any Oasis wallet to manage and facilitate this delegation?
Oasis Community & BD, Jon Poole
Staking will require only 100 Rose tokens. 🌹
We currently support Ledger hardware wallets via the Oasis CLI, and we’re actively working on expanding our wallet and custodian support. We’ll have more to announce soon!
Cryptodiffer Community
Explain the difference between ParaTime on the Oasis network and parachain on the Polkadot network? What is the advantage of ParaTime?
Oasis Product Marketing Manager, Andrew Miller
Unlike a Parachain, a ParaTime does not need to do consensus itself, making them simpler to develop and more integrated into the network as a whole. ParaTimes take care of compute and discrepancy detection is used to ensure correctness and integrity of execution, making ParaTimes more efficient than Parachains and other chain designs that rely on sharding.
Cryptodiffer Community
Does Oasis’ design allow for privacy in smart contracts without sacrificing other metrics such as scalability?
Oasis DeFi Lead, Luca Cosentino
This is a great point. Our uniqueness lays in enabling Privacy AND Scalability at the same time. While TPS is a very important metric, we think it’s somehow incomplete. If you chart number of transactions and complexity of the transaction, the Oasis Network wants to be in top right corner.
Cryptodiffer Community
Oasis is about privacy first. Can you name 1-3 aspects of why the DeFi space needs privacy?
Oasis DeFi Lead, Luca Cosentino
* To protect business interests and traders
* To prevent front running and other forms of manipulation
* To lower fees (because Ethereum traders are offering more to front run)
We are releasing a blogpost soon
Cryptodiffer Community
What are the benefits of using Oasis Network?
How can Oasis blockchain keep data secure?
Oasis Product Marketing Manager, Andrew Miller
Great Question. Here’s what really makes the Oasis Network stand out:
1. The network provides confidentiality of data and support for confidential compute — meaning sensitive data can be used by smart contracts without being exposed publicly (or even shared with the node operator)
2. The network’s ParaTime Architecture allows it run parallel smart contract layers, allowing the network to be very versatile (For example you can build a ParaTime to run almost another other chain’s smart contacts, like our new Ethereum ParaTime that’s completely backwards compatible with Ethereum.)
3. The network is designed to be incredibly scalable. We have over 10x the throughput of Ethereum, 6s confirmation times, and thats really just the beginning.
We see the network growing from real world use cases and applications. For example, because Oasis can support private data, DeFi apps can analyze real-world data to determine creditworthiness — allowing them to offer under-collateralized loans expanding DeFi beyond early adopters and traders to a mass market.
Cryptodiffer Community
What can Oasis Network offer to solve the scaling problem? And how does Oasis Foundation deal with the threat of centralization?
Oasis Community & BD, Jon Poole
Oasis offers a new architecture for Blockchain allowing for the first time a network with Privacy and Scalability. The network can operate at over 10x the throughput of Ethereum with 6 second confirmation times.
Oasis Foundation deals with the threat of centralization by spreading out the load through an active pool of Validators! We have 77 Active Validators right now and it’s only Mainnet Beta 💪🏼🔥 https://www.oasisscan.com/
Cryptodiffer Community
Although ETH 2.0 is delayed to next year, but it will solve all exist problem of ETH and become the best choise for dApps in future, so do you think this is a threat for your project and how could you overcome this barrier?
Oasis Product Marketing Manager, Andrew Miller
Great question.
Because of the Oasis Network’s unique design, ParaTimes can be built and customized for specific use cases and runtimes. For Ethereum DApps, our partner Second State has built a EVM compatible runtime that is completely backwards compatible with Ethereum. It will also be able to run ETH 2.0 once it’s available. Plus with our support for confidential smart contacts, Ethereum DApps running on Oasis will be able to do things that you just currently can’t do on Ethereum, like handle sensitive data or support privacy-preserving use cases.
Cryptodiffer Community
Does OASIS have a plan to promote, raise awareness, and understanding in the community so that more people get to know OASIS?
What is OASIS? What are your ideas and motivations for creating OASIS project?
Oasis Community & BD, Jon Poole
We have many ongoing community programs that I would love to share!
We have our 📣 Ambassador Program (https://medium.com/oasis-protocol-project/become-an-oasis-ambassador-and-build-a-responsible-data-economy-bbd38d0f9c12) which has a special incentive breakdown only available to ambassadors.
We also have weekly 🏆Community Cup Campaigns (https://medium.com/oasis-protocol-project/the-oasis-community-cup-continues-703929f519d0) where you can earn the 🌹ROSE token (https://medium.com/oasis-protocol-project/introducing-rose-the-oasis-network-token-cee031b5a532) before it goes public!
We also have a weekly lottery for those who participate in the Community Cup 🔥🏆 Come Join us to earn ROSE Tokens! https://t.me/oasisprotocolcommunity
Cryptodiffer Community
Can I stake $OASIS token?
What are the Staking structures?
Oasis DeFi Lead, Luca Cosentino
* you can run a node (https://oasisprotocol.org/node-operators)
* you can delegate your tokens
* you can join an upcoming activity we are about to launch to help everyone stake (more on our telegram soon)
Cryptodiffer Community
partners in every project play a huge role as backup and support at every start of a project and company, so my question is What role do your partners play in the ecosystem of Oasis and what benefits do they have for being a partner?
Oasis Product Marketing Manager, Andrew Miller
Hi @rnikolaus. We’ve got a lot of partners and a rapidly growing ecosystem. The reasons for why people participate are many, but to help folks develop DApps and tooling for the network we have a variety of grants programs. You can apply here: https://oasisprotocol.org/en/grants
Cryptodiffer Community
Q: OASIS Ethereum ParaTime is fully compatible with Ethereum with support for the entire Solidity tool chain, allowing it to support DApps currently on the ETH network. But then, what differentiates your product from ETH really? What are the advantages it offers?
Q: Why is Oasis Ethereum ParaTime more efficient, with superior performance, up to 6s of confirmation and much cheaper than ETH? What makes it have all these great features? Can this product be adapted to other platforms different from ETH that also require it?
Oasis Community & BD, Jon Poole
This is because they’re using the Oasis network! It adds Privacy and Scalability 💪🏼🥳 that’s quite an upgrade!
What makes it have all these great features is the architecture of the Oasis platform, and yes more bridges can be built to more Blockchains 💪🏼😁 Anyone can build a ParaTime and it’s completely decentralized!
Cryptodiffer Community
How does ParaTime on Oasis work? Currently, DeFi projects are operating mostly on the Ethereum platform, so is ParaTime scaling on Oasis better than on other platforms like Ethereum?
Oasis DeFi Lead, Luca Cosentino
ParaTime gives everyone the ability to spin runtimes that better suit their applications. The first paratime built is EVM compatible, which means that Ethereum contracts can be executed without any effort.
Cryptodiffer Community
Can you name some of Oasis ‘s key achievements and what milestones are you currently working on?
Oasis Community & BD, Jon Poole
One of my favourite achievements is the University Program. It’s the largest in Blockchain and when it comes to being taken serious, it’s hard to deny being integrated into the worlds education leaders.
https://medium.com/oasis-protocol-project/the-biggest-university-program-on-a-blockchain-network-just-launched-on-the-oasis-network-2a3c3a0dec1d?source=collection_home—4——2———————–
Oasis Community & BD, Jon Poole
Thank you, everyone! 🌹🌹🌹
Oasis DeFi Lead, Luca Cosentino
Thank you!!!!!
Cryptodiffer TEAM
Thank you for you answers, it was an insighfull session
Thank you everyone who participated, great questions as always!
