Oasis Network: Staking & Delegating ROSE Tokens
The Oasis Mainnet Beta has been stable since launching on Oct 1, 2020, and the Oasis Foundation has proposed to upgrade to the Oasis mainnet today at 16:00 UTC. This upgrade will enable Oasis Network staking rewards and token transfers. Ready to stake? Skip to this section.
If you have any questions about staking, we have likely answered your questions below.
The Oasis Network is a layer one, Proof of Stake platform that enables the tokenization of data to give ownership back to individuals. The Oasis Network is built with three key principles in mind:
- Privacy-First Design – End-to-end confidentiality and true data ownership will be supported by the Oasis Network. Compute techniques, like Intel’s SGX secure enclave, will be leveraged to ensure that data is not exposed on the network. The protocol can also support other privacy preserving technology such as homomorphic encryption and zero-knowledge proofs.
- Resilient, Flexible Architecture – The Oasis Network is designed to support a broad range of use cases without having to go through hard-forks or large network updates. This will ensure that it can retain its utility in the long term.
- Real-World Performance – The Oasis Network separates computation from consensus. This will allow the network to handle more complex computations while avoiding computational backlog.
Why stake your ROSE tokens with Figment?
EXPERIENCED & TRUSTED
Original testnet participant and maker of Hubble and DataHub for Oasis Network.
Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation.
FEATURES & BENEFITS
Figment Prime and discounts available for large token holders. Contact us for more information.
Active participant in the Oasis Network ecosystem, we built the Oasis Hubble explorer.
SECURITY & SAFETY
The world’s most advanced physical IDC + multi-cloud staking infrastructure.
You or your custodian maintain custody of your ROSE at all times.
Third-party custody solutions are available through our institutional partners. Contact us for more information.
Protected via industry-leading Delegation Agreement.
Ready to Stake?
If you’re ready to stake, the easiest way to participate is with your Ledger hardware device. If you are using a third-party custody solution or would like an introduction, contact firstname.lastname@example.org. If you have more questions before staking, we have likely answered your questions below.
Staking & delegation instructions
Verify your available balance, and then click the ‘Stake’ button.
Select ‘Choose Validator’ and search for the Figment validator. If you can’t find us, this is our address:
Enter the number of ROSE tokens you plan to stake and delegate. Note that you should keep at least 5 ROSE for transaction fees. Then click the ‘Generate My Transaction’ button and finalize the delegation with your Ledger device.
Questions? Critical information about staking ROSE and the Oasis Network
Where can I explore the network and create an Oasis wallet?
Figment is currently developing Oasis Hubble explorer.
- Web – https://anthem.chorus.one/oasis/staking (Ledger support only)
- Web – https://oasis-wallet.rockx.com (Ledger support only)
- iOS or Android – by Bitpie
When are staking rewards enabled? When are transfers enabled?
In short: Nov 18, 2020
We expect both ROSE staking and transfers to begin November 18, 2020 at 16:00 UTC. This process was proposed by the Oasis Foundation after mainnet beta had been stable for 10 days.
What is the name of the asset being staked?
In short: ROSE
The Oasis network’s native token, ROSE, is used to stake and to pay for transaction fees. You can read more about ROSE here.
Which type(s) and what rate of rewards can I expect? Can I stake locked/vesting tokens?
In short: locked ROSE can be staked to earn 20% annually in ROSE
Stakers are expected to earn newly-issued ROSE tokens. 2B of the 10B fixed supply will be used to reward staking, and stakers can expect a yearly rate of 20% rewards for their stake for the first six months of Oasis mainnet. For the next six months the rate will be 16%. You can read more about the token economics here.
Do I maintain custody of my ROSE tokens? Who or what controls my staked ROSE token?
You will be able to self-custody your Oasis ROSE tokens, ideally using a Ledger hardware wallet. Instructions for using your Ledger wallet with Oasis can be found here.
Figment has partnerships with a number of top-in-class custodians: email@example.com
The Oasis protocol takes control of your ROSE tokens while you are staking. If you unbond your tokens, this process will take 14 days before the protocol returns your tokens to you. While your ROSE are staked, you will earn staking rewards.
How long does it take to unstake?
In short: 14 days
From the moment you initiate the unbonding process, it takes 14 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your ROSE tokens.
Can my staked ROSE be slashed (seized or destroyed)?
Yes, a portion of your staked ROSE can be destroyed.
If you delegate to a validator that signs the same block twice with the same key, you will lose 100 of your delegated ROSE tokens and the validator you have delegated to will be permanently removed.
There will be no slashing for validator downtime.
Can I lose out on potential rewards?
In short: yes, if your validator does not perform adequately or safely
Stakers will only receive rewards in each epoch (ie. each hour) if their validator signs at least 75% of blocks within that epoch.
A validator removed from the active set will no longer be earning its delegators any rewards. This happens when the validator that commits a safety violation (ie. equivocation, also known as double-signing), and if this happens, you will need to delegate to a new validator to resume earning rewards.
What is the rate of new issuance (aka “annual inflation”) for ROSE? How does the token supply change?
Oasis will have a fixed supply, so there will be no new issuance ROSE, only newly distributed ROSE. Initially the network will launch with 1.5B tokens and will not exceed 10B. You can read more about ROSE distribution here.
How are decisions about the Oasis Protocol made and executed?
In short: off-chain
The Oasis network with use meritocratic, consensus-based community decision-making. You can read about Oasis governance process here.