Copper.co Brings Staking Support to the Oasis ROSE Token
- 29.07.2021 04:20 pm
Copper.co, a leading provider of digital asset custody and trading solutions, today announced that it will provide staking services for the Oasis ROSE token.
The Oasis Network is a rapidly growing ecosystem consisting of industry-leading app developers, blockchain infrastructure teams, node operators, universities, and more. It is a next-generation blockchain, which decouples the consensus layer from the application layer, allowing greater scalability, versatility and privacy.
ROSE is the native, capped supply utility and settlement token of the Oasis Network. The token is used for transaction fees, staking, and delegation on the Oasis consensus layer. Stakers will be able to earn rewards for contributing to the security of the Oasis Network, as locking up a stake on the network makes it more expensive for any one entity to gain control. The ROSE token provides an annualized staking reward of up to 20% and around 2.3 billion tokens will be automatically paid out in rewards over time. The supply of ROSE tokens is capped at 10 billion.
From the security of the Copper Platform, users will be able to stake the ROSE token in different pools simultaneously. Copper Platform allows digital assets in multiple exchanges, hot wallets and cold storage vaults to be managed together, all in one space. Storage of digital assets is made secure using Copper’s MPC technology, which creates three separate key shards rather than one private key, largely eliminating the risk of key exposure when signing transactions.
Alex Ryvkin, Chief Product Officer, Copper, said:
“We are delighted that the Oasis Protocol has chosen us to support the staking of ROSE, their native utility token. Oasis’ focus on personal data and scalability makes it one of the most versatile and promising networks. We look forward to supporting them as their community grows.”
Jernej Kos, Director of Oasis Protocol Foundation said:
“Copper’s Platform offers a great solution for digital asset managers to trade multiple assets within one secure and user-friendly space. Integrating ROSE into the Copper platform brings ROSE to the new generation of institutional crypto asset managers.”