What is Oasis, and what is it used for?
ROSE, the underlying token behind Oasis built using Cosmos Tendermint, is used for staking and delegating on Oasis’ Proof-of-Stake network. ROSE is primarily used to power smart contracts that focus on privacy preservation and confidentiality.
What are Oasis staking rewards?
Staking rewards in the form of native blockchain tokens (ROSE) are distributed to validators for locking up their cryptocurrencies to a blockchain network to support validator node’s participation in the consensus mechanism and securing the network for a period of time. Refer to the data above for the latest Oasis staking reward figures.
Is staking Oasis secure?
When ROSE is staked, it’s actually being delegated to a validator. Similar to staking tokens on any other protocol, staking ROSE comes with certain risks. If any downtime is experienced, or if a validator misses another part of the necessary requirements, then a percentage of the staked ROSE can be lost as a penalty (known as “slashing”).
What are the current use cases of Oasis?
Oasis’ primary use cases focus on privacy preservation and confidentiality. As such, it is used across automated market makers, and lending.
How long does it take to unstake Oasis?
Unstaking (also called unbonding or undelegating) can be initiated at any time. However, it takes approximately 14 days for your ROSE to unstake from the network and become transferable. During this time, you will not earn rewards. When the process is complete, you regain the ability to transfer/trade your ROSE tokens.
What is the minimum amount of Oasis to stake?
You can stake as little as 100 ROSE, but remember to keep some ROSE token unstaked in your wallet to pay for any potential future transaction fees.
What are the risks of staking Oasis?
Like many blockchain protocols, the consensus mechanism used by Oasis includes a slashing mechanism whereby any validator that misses too many blocks or double signs a block is penalized by the network, slashing the staked amount on that validator. However, delegators should be cognizant of these risks.
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