Oasis made the announcement just at a time when it is expected to double its circulating supply by unlocking additional tokens out of the total supply of 10 billion.
Blockchain startup, Oasis Protocol, has announced a new alliance with the Artificial Intelligence (AI) unit of Meta Platforms Inc (NASDAQ: FB) to develop the capabilities and applications of AI computing. While the startup’s announcement shows a high degree of positivity for the protocol, more details are notably well on track to be revealed in the coming year.
– Oasis Foundation (@OasisProtocol) November 18, 2021
Oasis Protocol brandishes a privacy-enabled blockchain platform for open finance and responsible data economy. As a Layer 1 blockchain network, Oasis allows anyone to rely on its secure protocol, a company funded through a dedicated grant accessible to developers.
With the growing demand for innovative applications focused on decentralized finance (DeFi), Oasis has positioned itself as one of the go-to companies with adequate scalability that gives it the leverage needed to reach a mass market. In addition to the great scalability embodied by the protocol, it allows the emergence of private smart contracts and the possibility of tokenization of data. This arguably opens up new use cases such as private lending, sub-guaranteed loans, and private automated market makers, all of which make its network offerings stand out.
Over time, there has been a limited interdependence of blockchain startups by big tech, however, the ambitions of Meta Platforms Inc dramatically change the narrative. With blockchain platforms known as one of the most resilient pioneers in the metaverse movement, Meta (formerly Facebook) is now targeting partnerships that it believes can be beneficial in its pursuit of its end goal.
Oasis technology is deemed resilient and its focus on data economy positions it at the forefront of the breakthrough applications that Meta now seeks to leverage. The Oasis protocol is powered by the ROSE cryptocurrency.
Oasis Meta partnership: impact on the token
The big name and identity that Meta owns are fundamental enough to cause the price of a digital asset to go up, especially when news of a partnership like Meta gets inked with the tech giant. However, no noticeable bullish impact was seen in the case of the Oasis utility token, ROSE.
Despite the coin’s hand change to $ 0.2821, up 18.59% at the time of writing, Reddit user u / NorthWesternSamurai blamed the protocol’s tokenomics that prevented gains from apparently eagerly awaited prices.
According to the user, Oasis made the announcement just at a time when it is expected to double its circulating supply by unlocking additional tokens out of the total supply of 10 billion. This token release increased the coin’s market cap, but failed to bring significant gains to investors, most of whom backed the coin early enough.
“So an ad that should have sent ROSE to the moon and made a lot of people money instead doubled their circulating supply AND their market cap while doing next to nothing for the price after unlocking. of people found themselves at the top when it peaked at 0.36 and remained holding the bag (now sitting at 0.23). Think about that – people asking 10x in anticipation of this announcement while ROSE was sitting at .18 are now in a project with a double market cap and an offer with hardly any profit or worse at a big loss due to FOMO and a lack of DYOR, ”the user said in a long comment.
While many view innovative protocols like Oasis as a great investment opportunity, the Reddit user warned that investors who want quick wins should analyze the token acquisition schedule before taking a position. Safe to say, Oasis’ approach to freeing the room after the announcement saved the protocol from a massive dump by the potential upsurge that would have been recorded.
Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real-world applications of blockchain technology and innovations to foster general acceptance and global integration of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and sites. Benjamin Godfrey is a lover of sport and agriculture.