Ocean and Oasis Announce a Strengthened Partnership After Early Successes

The Oasis Foundation and Ocean Protocol Foundation today announce plans to deepen the collaborative relationship between both organizations and bolster their efforts to promote Smart Privacy throughout Web3. The success of the new Ocean Predictoor dApp, which launched six months ago using the Oasis Network’s Sapphire protocol, has forged a strong partnership between the two teams. Now, both foundations are taking additional steps to expand their efforts.

In September 2023, the Ocean Protocol Foundation selected the Oasis Network’s Sapphire protocol to provide the privacy infrastructure that supports Ocean Predictoor, a crowd-sourced, on-chain marketplace for making and verifying predictions. With Predictoor, users can submit predictions, stake on them and profit when the predictions are correct. 

• In November and December 2023, the Oasis Foundation allocated 800,000 ROSE to support the Ocean Predictoor Data Farming incentives program, designed to foster Predictoor’s accelerated growth and development. 

• In January 2024, the Oasis Foundation extended its support for Predictoor incentives by allocating 20,000 ROSE per week throughout 2024. 

• From its launch last year to date, Ocean Predictoor, powered by Sapphire, has already processed over 4.5 million transactions so far. 

• In the past 30 days, Ocean’s prediction market dApp has processed more than $23 million in volume.

“Oasis Sapphire is the world's first and only confidential EVM chain in production. This functionality was key for Ocean to ship Predictoor and grow its traction. We expect Predictoor to keep growing exponentially, and with that, our collaboration with the Oasis team,” said Trent McConaghy, co-founder of Ocean Protocol.

As a milestone in this ongoing relationship, the Oasis Foundation and the Ocean Protocol Foundation agreed on a unilateral exchange of both network’s native tokens. At the time of writing, the Oasis Foundation has received $250,000 of OCEAN from the Ocean Foundation, and the Ocean Foundation has received $250,000 of ROSE from the Oasis Foundation. Both organizations will each add $250,000 of ROSE and $250,000 of OCEAN to the new ROSE-OCEAN pool on illumineX, the confidential decentralized trading platform powered by Oasis Sapphire. This exchange marks a new phase of continued collaboration between the two organizations with more joint activities planned in the future for both communities. 

“Our entire team at Oasis is proud to be contributors to the accelerated growth of Ocean Predictoor as an important validation of the integral utility of smart contracts with customizable confidentiality,” said Matej Janez, Business Development Manager at the Oasis Foundation. “Predictoor has emerged as one of our industry’s leading privacy-preserving DeFi applications, and we are excited to see our close collaboration result in more of Web3 using this powerful tool.”

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Explore other dApps built on the Oasis Network’s Sapphire protocol.