ROSE gains 54% in a week as Oasis Network ecosystem expands

For years, high transaction costs have been a problem for top blockchain protocols. Both Ethereum (ETH), and Bitcoin (BTC), have seen the average cost to conduct token transfers rise during network congestion and high demand.

One layer-one protocol (L1) that has gained traction in recent weeks and seeks to offer low-cost solutions to high fees is Oasis network (ROSE). This privacy-focused L1 Blockchain built with the Cosmos SDK is designed for open finance, responsible data economy and open finance.

Cointelegraph Markets Pro and TradingView data show that the ROSE price has surged 176.5% since Oct. 28 when it hit a low at $0.169. It reached a record high of $0.466 on November 21. This is a continuation of the upward trend after the ROSE price gained 70% since Dec. 20.

ROSE/USDT 4-hour chart. Source: TradingView

The Oasis ecosystem fund launched at $160 million. It also introduced the first nonfungible token (NFT), a project to create a network-wide token. ROSE is experiencing a rapid growth in community and decentralized applications.

Oasis ecosystem development fund

ROSE’s most important development that helped boost its price rallies was the Nov. 17 announcement of a $160 million Oasis ecosystem funds. This fund is designed to support founders and projects in building on the Oasis Network.

Draper Dragon and Hashed are among the investors backing the development fund. They also have the goal to help expand the ecosystem in multiple sectors, including decentralized finance (DeFi), NFTs and Metaverse, data tokenization and data DAOs.

Oasis’ privacy features are a major reason for projects to come to it. Its ability to process transactions at 99% less cost than Ethereum is an additional incentive to bring in promising applications.

DeFi settings are especially sensitive to privacy and projects that encourage it can help facilitate the migration from central finance to decentralized options.

Oasis gets NFTs

The Oasis AI Rose NFTs were released as the second reason ROSE’s strength has grown. This was the first NFT project to be published on the network.

It’s a bird, a plane, or Superwoman. It’s Oasis AI Rose NFTs that are dropping from the Metaverse. If you were Whitelisted for the airdrop, check your wallet to see if you received one of the 1st NFTs built on Oasis Unboxing occurs on Dec 25, 2021 https://t.co/va54RcCNqm pic.twitter.com/VjK5zVGeyI
— Oasis Foundation December 23, 2021 (@OasisProtocol).

999 AI-generated roses were created to further engage the community and show the NFT capabilities. They were then airdropped to users.

Oasis has launched the first NFT project for them. The network recently signed a partnership agreement with NFTb. NFTb is a multi-chain NFT/DeFi platform. NFTb offers a curated NFT marketplace for digital artists, gamers, and music lovers, and a unique dual NFT launchpad and token launchpad that can be used to assist creators in launching their projects.

Related: The Metaverse will unleash unbridled evolution on NFTs

n expanding ecosystem

The third factor that has helped to boost ROSE’s price is the growing ecosystem of decentralized apps and active users.

YuzuSwap was the first Oasis-based decentralized exchange to be launched. It received $2 million in funding to develop and become the “cornerstone” of the OasisDeFi ecosystem.

LaunchGarden, which will allow projects that are built on Oasis to access its growing community to launch their projects, was also released to the network. This platform is a way for early adopters to be attracted to the network.

LaunchGarden users will be able to stake their ROSEs or take part in airdrops to get early access to projects that are launching on the platform.

LaunchGarden is the 1st launchpad linking the Oasis Community & Ecosystem. Everyone can use & build on the Oasis Network, LaunchGarden will give Oasis projects easy access to early users with a multitude of features like staking & airdrops.https://t.co/diQnrjp6hp pic.twitter.com/gVXlcBkOdW
— Oasis Foundation December 22, 2021 (@OasisProtocol).

Oasis also gained from the Nov. 22 Mainnet Launch of Emerald, an Ethereum Virtual Machine compatible ParaTime Solution that will allow the bridging tokens between Ethereum & the Oasis network.

Oasis’s growth in applications has resulted in a greater number of users. The network’s supporters now have more than 100,000 members and show no signs of slowing down, as new projects are launched.

VORTECS(tm), data from Cointelegraph Markets Pro started to detect a bullish outlook on ROSE on Nov. 29, before the recent price increase.

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.

VORTECS(tm), Score (green) vs. the ROSE price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for Rose climbed into green on Nov. 29, and hit a peak of 76 just one week before token’s 100% price run in the following three weeks.

com. You should do your research before making any investment or trading decision.
https://cointelegraph.com/news/rose-gains-54-in-a-week-as-the-oasis-network-ecosystem-expands

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Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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