Fiona has announced that it has entered into a partnership with Oasis Foundation to secure ROSE’s secure custody, Oasis Network’s utility token. Additionally, it will become possible for ROSE token holders to directly stake their allocations by using secure infrastructure offered by Fiona. This will help token holders contribute to Oasis Network in a very safe and secure manner. Details related to the partnership were mentioned on Oasis Foundation’s official Twitter account.
ROSE—The Utility Token
ROSE will be utilized for facilitating transactions over the consensus layer of the Oasis Network. This utility token has been designed in such a way that it offers users control over their data and provides them financial sovereignty. It is also expected to plan an essential role in improving the interaction between different ecosystem partners and how data gets permissioned for storage and usage.
Jernej Kos, Oasis Foundation Director, said that they are pleased about the partnership of Oasis Network and Finoa. Jernej added that Finoa, which is considered one of the premier institutional custodians, will support delegation, staking, and ROSE custody during its launch.
He also mentioned that this partnership would allow the token holders to utilize a regulatory compliant and secure solution for safeguarding their tokens.
About Oasis Network
There are two parts of the Oasis Network: the ParaTime Layer and the Consensus Layer. Moreover, its unique design lets the network parallelize operations and scale all the layers independently so that custom run times can be created for supporting specific and complex use cases.
Moreover, the network’s confidential compute support and high throughput help to support scalable and private DeFi. This helps in further expansion of DeFi onto the mainstream market. The network’s powerful features also help to support primitives and new apps that are presently not available on any other platform. Thus, it can be said that the Oasis Network is fast becoming a platform for blockchain technology’s next generation.
Christopher May, Co-CEO and Co-Founder of Finoa, said in a statement that their team has been working with Oasis Network’s team for the last few months. He added that they are excited about supporting ROSE with staking and custody support. Christopher also mentioned that they are impressed with ROSE’s privacy and believe that this approach will play a key role in developing a responsible and reliable data economy.