thenewscrypto.com
- Oasis’ Emerald has a total worth of $104 million locked.
- Binance Lab recently committed $200 million to the network.
Oasis Network (ROSE) and Fantom (FTM) are two layer one blockchains bringing color to the early-year crypto cold. The Oasis Network has grown in popularity as a Proof-of-Stake Layer 1 blockchain in recent months.
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Its ROSE coin is up 18.1% today, and its DeFi ecosystem has surpassed $100 million in total value. Oasis Network’s Ethereum-compatible subnetwork, Emerald, has seen the most activity in recent weeks. YuzuSwap and DuneSwap are the two decentralized exchanges presently running on the platform.
According to DeFiLlama statistics, Oasis’ Emerald has a total worth of $104 million locked, with YuzuSwap holding almost $100 million of it. Within the first few hours after its deployment on Tuesday, the protocol experienced a boom in activity.
Multiple Funding Rounds
To process transactions, the Oasis Network uses a proof-of-stake (PoS) consensus approach. Oasis, like Ethereum, allows developers to create apps on top of these functionalities. Binance Labs’ recent $200 million commitment to the network is one of the factors contributing to the recent ROSE price surge.
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The Oasis Foundation’s director, Jernej Kos, said:
“We couldn’t be more thrilled that Binance Labs decided to dedicate such a significant contribution to our Ecosystem Fund. They are a valued partner, and together we can create new frontiers in the blockchain space.”
In recent weeks, Oasis Network has released several big enhancements. According to a report published on Tuesday, Binance’s venture capital arm would contribute $40 million to the Oasis ecosystem fund. Dragonfly Capital Partners, Draper Dragon Fund, JumpCapital, and PanteraCapital participated in the fund announced in November 2021.