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Beefy Deploys on Oasis Network

May 14, 2022

oasis 3

We’re back again to cure your hunger for chunky APY gains on the most innovative networks. This time, we’ve selected Emerald ParaTime as our target for some serious yield compounding. The Oasis Network is finally getting the Beefy treatment, so make sure you’re ready to take advantage of this new earning opportunity.

What is the Oasis Network?

The Oasis Network is a decentralized, layer 1 blockchain that focuses on scalability, versatility, and privacy. The network is composed of two main elements: its ParaTime Layer and Consensus Layer.

The Consensus Layer utilizes a set of decentralized validator nodes to manage a safe, Proof of Stake consensus mechanism with the potential for high throughput. The ParaTime Layer hosts parallel chains (ParaTimes) with their own computing environment and shared state.

The key to accessing Oasis Network is its utility token ROSE. By holding ROSE, you can make network transactions and take part in staking and delegation.

What is Emerald ParaTime?

Emerald ParaTime is an EVM-compatible ParaTime that allows for smart contract creation. It operates as the official EVM compatible ParaTime for Oasis network, with extremely low fees, scalable capability, and easy DApp integration.

Compound APY through Yuzuswap farms and pools

To start our Oasis Network deployment, we’ve chosen to autocompound on Yuzuswap. Yuzuswap is the first DEX built on Oasis and offers a Uniswap-style experience. This makes it a great opportunity for Beefy to do what it does best: maximize your Oasis Network yield. Our Yuzuswap Vaults could also lead to a BIFI-ROSE pair from the partnership.

What Vaults has Beefy launched?

yuzu

How do I bridge to Emerald ParaTime?

To start earning APY on Emerald, you can use Wormhole, cBridge, or Multichain to bridge your tokens. For Coinbase users, you can also withdraw directly to Emerald from your account. For more information on how you can get your ROSE from Oasis Network to Emerald ParaTime, see the guide below.

How to Transfer ROSE into Emerald ParaTime | Oasis Network Documentation.

bridge

How does supporting Oasis Network help BIFI holders?

The Cowmoonity should never forget there will only ever be 80,000 BIFI in existence. Holding the token gives you a share of the platform revenue and supporting another chain provided more shared revenue. This mechanism also puts buying pressure on BIFI, and what BIFI holder wouldn’t like that?.

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