Manage And Deploy Your Crypto Assets In DeFi

Crypto investors often seek to increase capital returns through decentralized yield opportunities, generating income from holding and lending digital assets. Through decentralized protocols, there is an added element of transparency and safety as users are always in control of their funds. This approach not only grows wealth but supports the digital asset ecosystem. This review explains the services offered by the DeFi platform Oasis.app in yield earning and lending.

How Does It Work?

Oasis.app allows users to generate Dai from their assets that are accepted by the Maker Protocol, or Maker-supported collateral. These assets are managed through smart contracts referred to as Maker Vaults, and Oasis Borrow is the user interface for interacting with them. To use Oasis, users must have a compatible Ethereum wallet, such as Metamask, WalletConnect, etc.

Oasis Automation Statistics, Accurate As Of 20.02.2023.

Oasis Borrow

Oasis Borrow allows users to borrow Dai against any collateral supported by the Maker protocol like ETH, WBTC, and 20+ more. With an intuitive and world-class UX that’s constantly evolving to suit users’ needs, the process to borrow Dai is seamless. Dai is a decentralized stablecoin pegged to the value of the US dollar, operating on Ethereum’s blockchain.

With Oasis.app, users can generate Dai by securing their crypto holdings as collateral. The Maker Protocol supports a wide range of cryptocurrencies, including ETH, WBTC, and twenty more, making it possible to use various crypto assets to borrow Dai. Oasis offers loans without a credit check.

Benefits:

Extra liquidity: Users gain access to extra liquidity, since Dai is a stablecoin this liquidity can be used for trading, spending or saving, all use cases are available. 

Multiple collaterals: Different collateral types, rates and collateral ratios are suitable for multiple risk profiles. 

Oracle security module: borrowers are protected from flash crashes by having prices update only once per hour.

Flexible repayment schedules: There are no repayment schedules, no minimum payments, and no credit history requirements. Users can repay at their own pace as long as their Vault is properly collateralized

Oasis Multiply

Oasis.app has introduced the Multiply feature, which lets users borrow Dai within the platform. This means that users can adjust their investment in a particular cryptocurrency without having to go through the hassle of multiple transactions or switching to another app. With the Multiply feature, users can conveniently increase holdings of the collateral crypto they use.

The Multiply feature offered by Oasis.app allows users to increase their exposure to a crypto asset in one transaction. By depositing approved collateral, such as ETH or wBTC, in a Vault, users can generate Dai which can then be used to purchase more collateral. With support for all Maker-supported crypto collateral types, users have the opportunity to take advantage of the rising trends in their chosen one.

Multiply is also available for Aave. Oasis Multiply for AAVE is a product that allows you to immediately utilize your borrowed USDC to buy more collateral within Oasis.app. The starting supported collaterals are the most demanded in the market, ETH, WBTC and stETH, and we will continue to add the best and safest AAVE supported collaterals.

To use the Multiply feature users must first open a Multiply Vault. In addition to the Multiply function, the Multiply Vault also offers the standard Borrow features, allowing users to deposit or withdraw either collateral or Dai to modify their position. Moreover, users can convert a standard Vault into a Multiply Vault, eliminating the need for additional collateral or Dai deposits.

With Oasis Multiply, users can multiply their exposure to a cryptocurrency by utilizing flash loans. For instance, if they choose wBTC as collateral, they can increase their wBTC exposure by up to 4.33x. This allows users to access Bitcoin through the form of an ERC-20 token, wBTC, to participate in DeFi applications. However, it’s important to remember that some risks are associated with flash loans and users should monitor their collateralization ratio to prevent liquidation.

With AAVE you can access higher multiples, and, since your collateral is available for borrowing, you will get yield on it. This yield will be counted against your borrowing rate. This means that in many cases your net borrowing cost will be lower compared to Maker. Each protocol has its own advantages, which you can review here.

Oasis Earn

With the G-Uni Multiply feature on Oasis.app, users can earn yields on their Dai deposits. Unlike standard borrow Vaults, G-Uni Vaults are designed for maximizing Uniswap V3 fees, so they don’t provide the option to generate Dai or withdraw collateral. Instead, the only options for the Vault are to deposit Dai and multiply it to the maximum possible amount, and then convert it back to Dai. The yield earned comes from the fees generated.

Fees

There is a fee for all services which operates as an interest rate. This fee, called the stability fee, is variable and changes for each type of Vault, as determined by the MKR token holders who oversee the protocol. These variable fees range from 0% to 4.5%, depending on the token.

Other fees include:

• Oasis Borrow: There are no fees for this feature. However, users will incur transaction gas costs in ETH.
• Oasis Multiply: Oasis.app charges a 0.2% fee, which must be paid in Dai, for this service. Additionally, users will pay transaction gas costs in ETH.
• Oasis Earn: For setting up a Vault, there is a 0.04% fee, which must be paid in Dai, and transaction gas costs must be paid in ETH.
• Oasis Stop-Loss: To close a Vault, there is a 0.2% fee, which must be paid in Dai, and transaction gas costs must be paid in ETH. Additionally, there will be a transaction gas cost in Dai when protection is triggered.

The only withdrawal fees are the transaction gas fees, which include a network fee and a flat fee to the platform.

Cryptocurrencies

The cryptocurrencies supported by Oasis.app includes:

• Dai (DAI)
• Ethereum (ETH)
• Lido’s Wrapped Staked ETH (wstETH)
• Chainlink (LINK)
• Decentraland (MANA)
• Polygon (MATIC)
• Wrapped Bitcoin (wBTC)
• Ren Bitcoin (renBTC)
• Gemini Dollar (GUSD)
• Yearn Finance Governance Token (YFI)
• Uniswap Governance Token (UNI)
• Uniswap Liquidity Provider Tokens (UNI LP)
• Curve Liquidity Provider Tokens (CRV LP)
• 10+ other cryptocurrencies

Conclusion

Oasis.app provides its users with a wealth of information through its in-platform knowledge base. If users still have questions, they can reach out to the Oasis.app team through the email contact form or through their active presence on social media. The platform also regularly updates its blog with news, new features, and other relevant information. They have plans for additional features and are a solid choice for those wanting to deploy digital assets.