June Recap By Oasis.app
Also this month, the market has not been in its best conditions, but we are still excited about the future, and working hard.
We just reached another big milestone, with 2B$ trading volume in Multiply!
There is also more big news, as you may have already noticed, our rebranding. We released a new and fresh logo to incorporate Oasis.app brand pillars. Check out the blog post to discover more.
As for development, this month we introduced the first version of Oasis Earn, a full self-custody solution for entering and exiting yield positions so you will always stay in control of your funds.
The Stop Loss Protection was released last month and the first month was a success. There are now 57 vaults with active Stop Loss, protecting $12m in vault debt. We already released some updates on this functionality too, read more below.
Finally, we are getting ready for EthCC in Paris, where the Oasis.app team will be on the stage twice, on July 21st, with Frank and Maria speaking. We will also co-host a DAIvinity party with MakerDAO and some other DeFi friends in Paris! Stay tuned for updates on our Twitter.
You can read more details about Oasis.app’s month below.
Despite the fact that we are still in the contraction phase of the market, we see an increase in volumes and transactions vs May.
Technical & Development Updates
- Our new product, Oasis Earn was launched this month in its first version, including:
- A new entrance for Oasis Earn, and the GUNI products.
- Updated product cards to provide you with the best overview on your earn situation: they showcase the current 7 day & 90 day annualized net yields.
- An updated ‘Your Positions’ page, to give you more insight into what you can do with the assets in your wallet on Oasis.app in the new top 5 assets and positions section.
You can read more about the release here.
- For the Stop Loss protection: new side bar designs have been implemented, as well as providing a smoother user experience, you can now also set up your Stop Loss protection when you open your vault!
Help Us Improve: A Quick Survey
As you know we value users’ feedback a lot and we use a feedback based approach to build our app. Thus, we ask for your help and 1 minute of your time: please fill out this super short survey - you can receive our swag!
News From The World
Before we say goodbye, as always we want to share some snapshots of what is happening around us.
- Circle released their second major fiat-backed stablecoin, Euro-coin (EUROC) which went live and available on June 30th. Using the same full-reserve model as the USD coin (USDC) the new stablecoin is pegged 1:1 to the euro. This ratio means the token is redeemable 1:1 for Euros. Tether also released plans to introduce a new stablecoin pegged to the British Pound (GBP) in July. Dubbed GBPT, the token will be tether’s fifth stablecoin since the first release of the USDT in 2014. The time of the GBPT release may be in accordance with the UK’s recent announcements of becoming a crypto hub and integrating into a stablecoin friendly economy.
- Paypal enables users to transfer, send and receive Ethereum, Bitcoin, Bitcoin cash and Litecoin, following Robinhood’s launch in April. The new features include allowing users to withdraw crypto assets to external wallets, like Metamask; transfer assets into Paypal accounts; and also transfer crypto funds to other users on Paypal. While this development increases the accessibility and exposure of using crypto day-to-day there are some privacy concerns for users tying their paypal accounts information to non-custodial wallets.
- Celsius, a centralised lending platform, has frozen accounts of its 1.7M user base. Following the Terra collapse and decline for Bitcoin and Ether, Celsius froze withdrawals, transfers and swaps on June 13th. It comes at a price as the company claims they are just facing a “liquidity squeeze”, while users are losing trust and may face losses in the future of Celsius.
July 4, 2022