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Oasis Network is the leading privacy-enabled and scalable layer-1 blockchain network for transparent finance and a responsible data economy. It separates consensus and computation into two layers to achieve impressive scalability. Oasis also features instant finality, low gas fees, high throughput, privacy protection and defense against MEV — it is ideal for DeFi! Moreover, the Oasis Network exceeded 100 million in TVL in less than 12 hours from the YuzuSwap DEX launch and provides a next-generation foundation for Web3 and power DeFi, making the platform a compelling option for developers and crypto enthusiasts.

Now, it’s the perfect time to explore DeFi on Oasis. Here’s how to get started.

Create an Oasis Wallet

Add a chrome browser extension here and click “Create Wallet.”

1. Create your wallet password.
2. Store your mnemonics to access your wallet on other devices.
3. After successfully creating your wallet, adds funds through here.

You can also create a wallet from any web browser using the Oasis Wallet website. For a video on setting up an Oasis wallet and sending ROSE to an Oasis wallet — please click HERE. Creating your Oasis wallet gives access to features like staking, with benefits such as crypto rewards and control over your crypto.

Transfer ROSE to Emerald, the EVM Compatible ParaTime

Oasis separates consensus and computation into two layers in order to achieve its scalability. This requires the consensus layer to be designed in a way that is as flexible and lightweight as possible which also makes it unable to support complex smart contracts. Instead, Smart Contract execution is completed in the Computation layer. This means that users must bridge their $ROSE tokens from the consensus layer to the computation layer to participate in DeFi, NFT marketplaces, and Gaming on the ParaTime. Follow this link to learn how to transfer $ROSE to the Emerald Paratime. Transfer the $ROSE tokens from Emerald Paratime to your Metamask wallet to access their use cases.

Become a DeFi User on Oasis Network

With $ROSE tokens now in a Metamask wallet, users can use any of the following Oasis DeFi Dapps and start depositing liquidity to earn token rewards.

YuzuSwap DEX

Users can participate in liquidity pools, swap, trade and earn rewards with high APY in this exciting DEX that crossed $1 billion in trading volume in under a month.

YuzuSwap comes with features like ”trade once mine forever” and an auto-buyback price support system. An advantage of YuzuSwap is that every trade users make in an incentivized pair continues to add rewards with every block (every six seconds) until users withdraw the TPST (trading pool share token) balance. The TPST balance resets to zero after withdrawal; it adds rewards after users start trading again.

Start using YuzuSwap DEX.

Gemkeeper Finance

GemKeeper.finance is a community-focused Automated Market Maker (AMM) and DeFi platform built on Oasis’ Emerald Paratime. It allows users to execute token swaps, enter existing and create new liquidity pools. Gemkeeper exposes users to yield farming on Oasis using globally accepted crypto assets. Users earn BLING by staking their GemKeeper Liquidity Pool (GLP) tokens in the Gem Mine.

Visit Gemkeeper Finance here.

Fountain Protocol

Fountain Protocol — a first cross-chain lending platform powered by Oasis — enables users to experience high capital efficiency management of DeFi assets. The Fountain Lending Pool allows users to receive a high yield return with low gas fees through a smooth lending protocol where lending and borrowing are accessible to all.

Learn more about this community-led protocol here and how to earn yields on Fountain Protocol.

Bridging Tokens from Different Blockchains

Bridging allows users to move tokens across different chains; Oasis currently supports assets from Wormhole, Celer and Multichain bridges within its ecosystem. The general bridging procedure involves the following steps:

1. Network selection
2. Token selection (the token a user intends to bridge)
3. Entry of token amount a user wants to bridge
4. Confirmation and acceptance of the transaction

The transaction involves paying gas fees for the chain of origin and the destination chain; therefore, users will need to have ROSE in their wallet for gas fees. Bridging moves tokens from other chains to the Emerald ParaTime on Oasis.

Oasis users can now use the Wormhole, Multichain or Celer Bridge to move tokenized assets from Ethereum, BSC, Solana, Terra and Polygon seamlessly across blockchains. The move means users will find more utility for their tokens held in these blockchains.

New Oasis users bridging USDC, BUSD, BNB or LINK from Multichain or USDT from Wormhole can also use GemKeeper’s faucet to pay for their initial bridge fee and first transaction on Oasis. For more details on this please click here.

Note: When you bridge tokens through Wormhole, the origin token gets locked in a smart contract, and a new wormhole wrapped token gets minted on the target chain. You can swap those for other (native) coins on the target chain.

Learn more about the Wormhole bridge and how to use it here.