For many years, high transaction costs have been the thorny issue of top blockchain protocols, because Bitcoin (Bitcoin) And Ethereum (Ethereum) We have seen the average cost of token transfers skyrocket during periods of network congestion and high demand.

Oasis Network (ROSE) is a privacy-focused L1 blockchain built using the Cosmos SDK. It aims to provide low-cost solutions for high fees. It has been receiving attention in recent months and aims to provide open finance and responsible Data economy.

Data from Cointelegraph Markets Pro and Transaction view It shows that since hitting a low of $0.169 on October 28, the price of ROSE soared by 176.5% to a record high of $0.466 on November 21, and rose again after rising by 70% since December 20.

Three reasons for the momentum and price of ROSE include the launch of the 160 million U.S. dollar Oasis Ecosystem Fund, the introduction of the first non-fungible token (NFT) project on the network, and the rapidly growing decentralized application community and ecosystem .

Oasis Ecosystem Development Fund

The most important development of ROSE, which helped drive its price increase, was the announcement on November 17th. USD 160 million Oasis Ecosystem Fund Designed to help founders and projects build on the Oasis network and ecosystem.

The development fund is supported by many partners and investors including Draper Dragon, Hashed, FBG and Pantera Capital. Its goal is to help expand the ecosystem in multiple areas, such as decentralized finance (DeFi), NFT, Metaverse, data tokenization, data DAO, data governance and privacy applications.

One of the main factors that attracted projects to Oasis was its built-in privacy features designed to support confidential smart contracts; its ability to process transactions at a price 99% lower than the cost of Ethereum adds additional motivation to attract promising applications.

Privacy is particularly important in the DeFi environment, and projects that promote it can help facilitate the migration of stakeholders from centralized finance to decentralized alternatives.

NFT comes to Oasis

The second reason for the strength of ROSE is the release of Oasis AI Rose NFT, which is the first NFT project on the Internet.

Is it a bird-airplane-superwoman? No, Oasis AI ROSE NFT dropped from Metaverse!

If you are included in the airdrop whitelist, please check your wallet to see if you have received one of the first NFTs built on Oasis

The unboxing time is December 25, 2021 https://t.co/va54RcCNqm pic.twitter.com/VjK5zVGeyI

-Oasis Foundation (@OasisProtocol) December 23, 2021

In order to further interact with the community and demonstrate the network’s NFT function, 999 AI-generated roses were minted and airdropped to users.

In addition to the launch of the first NFT project specifically for Oasis, the network recently sign Establish a partnership with NFTb, and NFTb will position itself as a multi-chain NFT and DeFi platform. NFTb currently offers a selection of NFT markets designed for digital artists, gamers and music lovers, as well as the first dual NFT and token launchpad designed to help creators start their projects.

related: Metaverse will bring unbridled evolution to NFT

An expanding ecosystem

The third factor that helps push up the price of ROSE is the expansion of the decentralized application ecosystem and the continuous growth of the active user community.

On December 16, it was revealed that YuzuSwap, the first decentralized exchange built on Oasis, raised US$2 million for development, becoming the “cornerstone of the Oasis DeFi ecosystem”.

With the launch of LaunchGarden, the network also recently received its first universal project launchpad, which will enable Oasis-based projects to access its growing community to attract early adopters.

LaunchGarden will also allow users to pledge their ROSE or participate in airdrops in order to access projects launched on the platform in advance.

Introduction to LaunchGarden — the first launch pad to connect the Oasis community and ecosystem!

Everyone can use and build on the Oasis Network. LaunchGarden will allow early users to easily access the Oasis project through multiple functions such as pledges and airdrops.https://t.co/diQnrjp6hp pic.twitter.com/gVXlcBkOdW

-Oasis Foundation (@OasisProtocol) December 22, 2021

Oasis also benefited from the mainnet launched by Emerald on November 22, which is a ParaTime solution compatible with the Ethereum virtual machine, which will realize the token bridging between the Ethereum and the Oasis network.

Due to the growth of applications on Oasis, the supporter community of the network now exceeds 100,000 users, and there is no sign of slowing down as new projects continue to be launched.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, the bullish outlook for ROSE began to be discovered on November 29.

Cointelegraph’s unique VORTECS™ score is an algorithmic comparison of historical and current market conditions. These data points include a combination of market sentiment, trading volume, recent price changes, and Twitter activity.

As shown in the figure above, ROSE’s VORTECS™ score climbed to the green zone on November 29, and reached a high of 76 a week or so before the 100% token price run in the next three weeks.

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