How to buy and hold ROSE with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
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Oasis Network (ROSE) token Review
ROSE is the native token of the Oasis network, a scalable, privacy-enabled blockchain with a secure architecture ensuring high throughput and provides low transaction costs.
About Oasis Network (ROSE)
In 2018, the Oasis network was introduced as a scalable blockchain offering privacy solutions for enterprises. It was developed with advanced technologies such as sharding, zero-knowledge proofs, and confidential computing to ensure high transactional throughput and robust privacy. Two years later, the Oasis network launched its official mainnet to tokenize data and revolutionize decentralized finance (DeFi) by offering lower fees and empowering users to create identities with control over their own data.
In 2020, ROSE was officially released as the native token of the Oasis ecosystem. Coin holders use it for transaction fees and staking, contributing to network security to earn rewards. Then in 2021, Oasis introduced Parcel SDK, a development kit with tools for developers to build privacy-focused apps.
The Oasis Network (ROSE) Token Use Cases
- Network fees - ROSE holders use the coin to pay transactions fees in the Oasis ecosystem
- Stake to secure the network - Users by staking the ROSE tokens, contribute to the network security and can become validators. Holders must stake a minimum of 100 ROSE for entity registration and 100 ROSE for node registration to become a validator. The top 120 entities by stake make up the active validator set. Validators earn ROSE coins as block rewards. Yearly incentives vary between 2.0% to 20.0%, depending on their performance and staking duration on the network.
- Governance- ROSE holders can engage in network governance by voting on the ecosystem's parameter changes and protocol upgrades.
- Collateral- Holders can use the ROSE token as collateral to access DeFi services and applications within the Oasis Network. It enables users to engage in lending and various financial activities.
The ROSE token has over 6.7 billion coins circulating out of a max supply of 10 billion, with a live market cap of $873,399,394. The supply is released gradually throughout the ecosystem, following a vesting schedule spanning ten years from 2020. The process commenced with the introduction of 1.5 billion tokens at the Mainnet launch. Also, Oasis reduces the number of circulating ROSE coins by burning a portion of the coins received from transaction fees on the network, aiming to boost the token's potential value.
The token’s current annual supply inflation rate is 17.25%, increasing by over 987 million ROSE in the past year. The initial distribution of ROSE coins was as follows: Backers (23%), Staking Rewards (23.5%), Strategic Partners and Reserves (5%), Core Contributors (20%), Foundation Endowment (10%), Community and Ecosystem (18.5%).
ROSE token holders can stake their coins to secure the network and earn rewards, engage in the active Oasis DeFi and NFT ecosystems, and help to develop the platform by voting for the new protocol upgrades. The current price of the coin is $0.13, and its value is influenced by technological advancement and market sentiments.
The token faces competition from emerging rivals like Polkadot (DOT), with a similar architecture and a larger market cap. Also, the coins' sustained relevance, value, and functionality depends on the network's performance and overall success.
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
You can easily acquire ROSE tokens in the Wigwam Web3 wallet or on various crypto exchanges. Visit Binance, BingX, or Bybit, create and fund your account, and make your purchase. Users can also buy the coin on Bitget or Bitrue exchanges.
Follow the below steps to stake the ROSE token successfully:
- Go to RockX Wallet for Oasis Network website at https://oasisprotocol.org/ecosystem#wallets. Download and set up an Oasis wallet.
- Buy ROSE tokens from a supported crypto exchange and transfer them to your wallet.
- Ensure you have a minimum of 100 ONE in your wallet for staking but keep at least 5 ROSE for transaction fees
- Select the ‘STAKING’ tab and choose a validator to delegate your tokens
- Consider track records, uptime, and commission rates before deciding
- Click on DELEGATE
- Specify the amount to stake and click the sign and submit button.
- Now, patiently wait for rewards, which are typically distributed automatically to your wallet every epoch.
Effortlessly monitor ROSE address activities using blockchain explorers. OASIS SCAN and OASISBloc explorer are excellent platforms suitable for new and experienced users. OASIS SCAN displays network status, block and transaction history, while OASISBloc explorer provides transaction history with block timestamp.
To seamlessly add ROSE tokens, use crypto wallets supporting the Oasis blockchain like Wigwam DeFi wallet, Oasis wallet or Metamask. Install the wallet, navigate to settings, and click on the network. Select add network and choose Oasis mainnet from the options. Once connected, click Add Token, search for ROSE, and import your assets. In case the coins aren't visible, follow the manual process by clicking "custom token." Enter the ROSE token address (for Ethereum: 0x26B80FBfC01b71495f477d5237071242e0d959d7). Then input "ROSE" for the symbol and "18" for decimals. Confirm, and your ROSE assets should be in the wallet.
The token faces risks and price volatility in the cryptocurrency market, so a bear run could bring financial risks. Therefore, it's crucial to understand the moving averages and current market conditions before investing.