ROSE Token and its Importance in Oasis Network

The Oasis Network is a decentralized network that is layer 1, and proof of stake has a consensus mechanism used for the validation of transactions of cryptocurrency. With the help of this system, the owners of cryptocurrency can stake their coins. The Oasis Network consists two layers one is Consensus Layer which is secure, scalable, and has high throughput and the second one is the ParaTime Layer which hosts several parallel runtimes each single one represents the computing environment which is replicated to the shared state.

ROSE Token

The native token of Oasis Network is ROSE Token which is a capped supply utility token and the settlement token. The ROSE Token is used for delegation and staking on the Consensus Layer of Oasis Network. The smart contract operations require a fee in the ParaTimes.

Supply

The native token ROSE has a finite supply (capped supply). There will be approximately 1.5 billion tokens having a circulating supply at the launch, at 10 billion tokens the total cap is fixed.

Utility of Token

For the transaction fees, delegation, and staking at the Consensus Layer the ROSE tokens are used.

Rewards of Staking

There will be an automatic payment of 2.3 billion tokens in long term for the staking rewards to the delegators and the stakers to secure the network for a long time.

Distribution of Token

There is a specified quantity of ROSE tokens that are reserved for several functions of the network, the distribution follows the percentage of the total existing supply of tokens.

Backers

Before the launch of the mainnet, the tokens are directly sold to the backers who supported the Network. The whole process of the sale took place in 2018.

Core Contributors

The compensation will be made if there is any loss to the contributors during their contribution to the development of the Oasis Network.

Foundation Endowment

There will be an endowment to the Oasis Foundation to encourage the maintenance and development of the Oasis Network.

Ecosystem and Community

There are many funding programs and services provided for engaging the community of Oasis Network. This includes the grants given by the developers and the other incentives which are given by the Oasis Network.

Strategic Reserves and Partner

The tokens are not released in public yet. It will be released to the public after the launch of the mainnet. In mainnet, there will be only a few fractions of total existing tokens and they will be supplied in circulation. Only a portion of tokens that makes the foundation is supplied upon the mainnet. Any kind of staking that is earned will go back to the network with the help of the delegation.

There are some tokens kept aside that are used for the reward of staking. These tokens will be spent out on the following one chain mechanism of mining. Then these are calculated based on the production of the blocks, in staking how many numbers of nodes are participating and the total number of staked tokens.

History of Fundraising

The whole process is carried out during the years 2018 and 2020 where the Oasis Network has raise over 45 million dollar in funds from the backers that are shown in the figure beneath.

Incentives of Staking

The teams who are contributing to the Oasis Network are highly focused and determined on the founding vision of Oasis Network. They believe the Network should become a renowned public, world-class and independent platform in the crypto world. They also ensure that the setting of the node is possible for all members of the community.

Number of Validators

There should be a specified number of validators that will be based on the weight of stake on the network

Stake and Selection

the minimum stakes are 100 tokens per entity. At a time, there will be one node to be elected from each community to the consensus committee.

Rewards of Staking and Slashing

The percentage of the reward for the stakers is targeted to 2-20% by the Network and this depends on the longevity of staked time which is provided by the process of staking.

In double signing, the network will slash for forms and it would use minimum stake amount for slash purpose, which will lead to freezing the node.

Unbonding and Voting power

There will be up to 14 days for the unbonding period.

The mechanism of voting depends on the weight of the stake. The power consensus voting of the validator is directly proportional to the stake.

 

 

 

 

 

 

 

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