Oasys

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Discover Oasys's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Oasys?

Oasys (OAS) is a public blockchain specializing in gaming, aiming to combine blockchain and gaming to redefine the blockchain gaming experience. It uses a Proof-of-Stake (PoS) consensus mechanism, ensuring high network stability, scalability, and eco-friendliness. The OAS token plays a central role in the ecosystem, facilitating utility across the network’s layers, providing staking opportunities, and governance functions.

How is Oasys used?

Oasys (OAS) is used in several ways within the Oasys ecosystem:

  1. Gas Fees: OAS tokens are used to pay for transaction fees and gas on the Oasys network. This includes fees for rolling up transactions from a Verse-Layer to the Hub-Layer, using a Bridge contract, or running a contract on the Hub Layer.

  2. Verse Building Deposits: Developers must deposit more than 1 million OAS tokens to create a new Verse, ensuring a long-term commitment and preventing the creation of fraudulent Verses.

  3. Decentralized Governance: OAS token holders participate in decision-making processes through decentralized governance, including proposals for changes in inflation rates, treasury uses, and which contracts to build on the Hub-Layer.

  1. Staking Rewards: Users can receive staking rewards by staking OAS tokens. Validators must stake at least 10 million OAS tokens to participate in the validation process.

  2. Payment: OAS tokens are used for micropayments within games and other applications, serving as the primary currency for transactions within the Oasys ecosystem.

These utilities make OAS tokens integral to the functioning and growth of the Oasys ecosystem.

How do I store Oasys?

To store Oasys (OAS) tokens, you have two primary options:

  1. Store in Your KuCoin Account: Holding your OAS tokens in your KuCoin account provides quick access to trading products, such as spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets, helping you avoid the hassle of securing your private keys on your own. Ensure you set up a strong password and upgrade your security settings to prevent malicious actors from accessing your funds.

  2. Hold in Non-Custodial Wallets: If security is your top concern, you can withdraw your OAS tokens to a non-custodial wallet. Storing OAS tokens in a non-custodial or self-custodial wallet grants you complete control over your private keys. You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you wish to trade your OAS tokens frequently or put your assets to work. Be sure to store your private keys in a secure location as losing them may result in the permanent loss of your OAS tokens.

How to buy Oasys?

To buy Oasys (OAS) tokens, follow these steps:

  1. Choose an Exchange: Select a reliable exchange that supports OAS, such as KuCoin or MEXC. Ensure the exchange is secure and has a good reputation.

  2. Create an Account: Sign up on the chosen exchange by providing your email address, mobile phone number, and country of residence. Create a strong password to secure your account.

  3. Verify Your Account: Complete the verification process by providing personal information and uploading a valid photo ID. This step is crucial for account security and compliance with regulations.

  1. Add a Payment Method: Add a credit/debit card or bank account to your exchange account. This will allow you to fund your account and make purchases.

  2. Fund Your Account: Deposit funds into your exchange account using your added payment method. You can also transfer existing cryptocurrencies from another wallet or trading platform.

  3. Navigate to the OAS Market: Find the OAS trading pair on the exchange's spot market. This is where you can buy OAS using your deposited funds or existing cryptocurrencies.

  1. Place an Order: Choose the amount of OAS you want to buy and place an order. You can use market orders for instant purchases or limit orders to buy at a specified price.

  2. Complete the Transaction: Once your order is executed, you will see the purchased OAS in your trading account.

  3. Store Your OAS Safely: For long-term storage, consider using a cold wallet, such as a paper wallet or a hardware wallet, to keep your OAS tokens secure.

Remember to always follow the specific instructions provided by the exchange you choose, as the exact steps may vary slightly.

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History of Oasys

Oasys (OAS) is a public blockchain specializing in gaming, initially developed in Japan but based in Singapore. It was launched in 2022, aiming to combine blockchain and gaming to redefine the concept of blockchain gaming. The team behind Oasys started their blockchain journey in 2018, focusing on NFTs and DeFi, which eventually led to the development of Oasys.

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How Oasys works

Oasys (OAS) is a public blockchain designed specifically for gaming. It aims to combine the benefits of blockchain technology with the gaming industry, providing a seamless and fast experience for users. Here's how it works:

Architecture

Oasys has a multi-layered architecture, which is compatible with the Ethereum Virtual Machine (EVM). This architecture consists of two main layers: the Hub Layer and the Verse Layer.

Hub Layer (Layer 1)

The Hub Layer is the foundation of Oasys. It has a block time of 15 seconds, similar to Ethereum, and is highly scalable and stable. This layer ensures that data is always available and can handle high transaction volumes without risking network failure. It also uses a proof-of-stake (PoS) consensus mechanism, which is eco-friendly and reduces energy consumption.

Verse Layer (Layer 2)

The Verse Layer is built using Layer 2 technology and is designed for developers to create their decentralized applications (dApps). This layer provides superior data availability, scalability, and transaction speed. It uses optimistic rollups to minimize the number of transactions posted to the Hub Layer, ensuring high network resilience.

Key Features
  • Zero Gas Fees: Users do not have to pay gas fees for transactions, making it more accessible and cost-effective.
  • Instant Transaction Approvals: The Verse Layer allows for instant transaction approvals, similar to Web 2 solutions, which enhances the user experience.
  • Data Availability: All data is stored in the Hub Layer, ensuring that even if data is lost in the Verse Layer, it can be recovered from the Hub Layer.
  • Scalability: The architecture is designed to handle high transaction volumes without compromising network stability.
OAS Token

The OAS token is the native currency of the Oasys ecosystem. It plays a crucial role in facilitating transactions, staking, and governance within the network. The token is used for various purposes, including:

  • Gas Fees: Verse Builders pay gas fees in OAS tokens for actions that require transactional finality.
  • Verse Building: Developers must deposit a substantial amount of OAS tokens to create a new Verse, ensuring ecosystem integrity.
  • Payments: OAS tokens are used for in-game micropayments and other transactions within the ecosystem.

Overall, Oasys aims to redefine blockchain gaming by providing a fast, scalable, and cost-effective platform that empowers both gamers and developers.

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Oasys's strengths

Oasys (OAS) has several strengths that make it an attractive option in the blockchain gaming space:

  1. Scalability: Oasys is designed to handle a high volume of transactions, making it suitable for gaming applications where speed and efficiency are crucial. Its multi-layered architecture, comprising a Layer 1 hub and various Layer 2 verses, allows for high scalability and data availability.

  2. Security: Oasys prioritizes security, employing measures to protect against hacking without the need for centralized liquidity pools. This ensures a secure environment for game developers to deploy their applications.

  3. Zero Gas Fees: Oasys offers zero gas fees, which is a significant advantage for gamers and developers. This feature, combined with high-speed transactions, enhances the overall gaming experience.

  1. Flexible Token Design: Oasys allows for flexible token design, including fungible tokens (FT) and non-fungible tokens (NFT), which are essential for tokenomics in the ecosystem. This flexibility is particularly beneficial for game developers and IP holders.

  2. Eco-Friendly: Oasys is designed to be eco-friendly, which is an important consideration in the blockchain space where energy consumption is a significant concern.

  3. Strong Partnerships: Oasys has formed strategic partnerships with prominent gaming and Web3 companies, such as SEGA, Ubisoft, and Yield Guild Games, which lends credibility and support to its ecosystem.

  1. Governance and Staking: The OAS token plays a central role in the ecosystem, offering staking opportunities and governance privileges. This aligns the interests of stakeholders with the overall health and growth of the Oasys ecosystem.

These strengths position Oasys as a robust and scalable blockchain solution for gaming and decentralized applications.

Oasys's risks

Oasys (OAS), a cryptocurrency, faces several risks that can impact its value and user experience. Here are some of the key risks associated with Oasys:

Market Volatility

Oasys, like other cryptocurrencies, is susceptible to market fluctuations. Unpredictability in the market can affect the value of staking rewards, making investments less appealing during downturns.

Security Risks

Security is a paramount concern for any cryptocurrency. Oasys is not immune to potential security risks, which can compromise user funds and data. Measures are in place to mitigate these risks, but they remain a significant challenge.

Scalability Issues

Scalability is a common concern in the world of cryptocurrencies. Oasys must address these challenges to ensure its performance and sustainability. Network upgrades are crucial to enhancing its scalability.

Regulatory Challenges

As Oasys gains global adoption, it must navigate complex regulatory frameworks. This can present both opportunities and challenges for the cryptocurrency.

Partnerships and Collaborations

The success of Oasys depends on strategic partnerships. Forming key alliances within the blockchain space and beyond is essential for its growth and sustainability.

Ongoing Developments and Roadmap

Oasys' future prospects are tied to its ongoing developments and roadmap. The implementation of new features, enhancements, and innovations will shape its evolution in the years to come.

These risks highlight the complexities and challenges that Oasys faces as it continues to evolve in the digital currency landscape.

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Did Oasys raise funds?

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Oasys’s team

The team behind Oasys (OAS) includes:

  • Tony Johnson: President, CEO, and Founder, with over 25 years of experience guiding professional services and technology efforts.
  • Paige Johnson: Senior Vice President, Enterprise Services, with over 15 years of experience managing Federal projects, contracts, and corporate activities.
  • John R. “Bob” Nunnally, Jr.: Chief Operating Officer, a well-known figure in Federal and Commercial IT circles, with a 23-year military career and experience in strategic planning and business development.
  • Experts from top-tier gaming companies: The team includes experts from leading gaming entities such as Bandai Namco Research and PlayStation.

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