In-depth explanation of Oasys: an EVM-compatible high-speed gaming public chain with zero transaction fees.

Source: Li Ke, PANews

Oasys, a game public chain jointly launched by Bandai Namco and SEGA in Japan, is a side chain compatible with Ethereum EVM and supports multi-chain interaction. Oasys adopts PoS consensus mechanism and includes Layer1 and Layer2. Layer1 is mainly used for mainnet consensus, while games mainly run on Layer2 network. On Oasys public chain, game developers can run their own Layer 2, and users do not need to pay Gas fees, which are borne by developers. Oasys aims to improve the experience and adoption of blockchain games through faster transaction speed and zero Gas fees.

Oasys blockchain ecosystem map

Oasys completed a $20 million token private placement round led by Republic Capital in July this year, with participation from Jump Crypto, Crypto.com, Huobi, Kucoin, Bitbank, and Mirana Ventures. On December 6th, Oasys announced the completion of a new strategic financing round, with participation from Galaxy Interactive, Korean gaming giant Nexon, Jets Capital, ChainGuardians, and others. The amount of financing was not disclosed. In addition, Oasys allocated $1 million to the Republic platform for public offering earlier this month, with a price of $0.035 USD. The public offering was completed within 12 hours.

The founding team are leaders in the gaming and blockchain industries

The founding members of Oasys mainly come from well-known companies in the gaming and blockchain industries.

Gabby Dizon: Co-founder of Yield Guild Games (YGG), a gaming guild.

Hajime Nakatani: President and CEO of Bandai Namco Research Institute.

Hironobu Ueno: CEO of blockchain gaming company double jump.tokyo.

Hironao Kunimitsu: Founder of Gumi and CEO of Thirdverse.

Shuji Utsumi: COO of Sega Joint, founding member of PlayStation.

The main development team behind Oasys comes from the Japanese blockchain game development company double jump.tokyo. Similar to the reason why AxieInfinity developed the Ronin public chain, double jump.tokyo encountered many pain points during the development of the blockchain game My Crypto Heros, so they decided to develop an independent game-specific blockchain to solve these problems. Therefore, the founder of double jump.tokyo is also one of the co-founders of Oasys. Currently, another Japanese blockchain game company, Crypto Games Inc., has also joined the development of Oasys. Crypto Games Inc. has been developing the blockchain game Crypto Spells since 2019.

The development company behind Oasys

Oasys's Layer1: OAsys Hub

Oasys is a multi-layer EVM compatible PoS public blockchain. The Oasys blockchain consists of a layer 1 called Hub-Layer and a layer 2 called Verse-Layer. Oasys Hub is the hub layer of Oasys, where game developers can develop their own layer 2 games. OAS holders can delegate their OAS by staking on Oasys Hub through staking, validators can manage nodes on Oasys Hub, and game players can find interesting games through Oasys Hub.

Oasys Layer1(Oasys-Hub) and Layer2(X-Verse) as well as external network diagram high network stability

Like Ethereum, Oasys Hub has a block time of 15 seconds. The Hub-Layer is flexible enough to run with thousands of connected 2nd layer Verse-Layers without the risk of network failure due to node failures.

High Scalability

In principle, Hub-Layer can only be used to run FT, NFT, Bridge, and Rollup contracts, with most of the trading taking place on the 2nd layer Verse Layer. In exceptional cases, some ordinary contracts can be deployed on Hub-Layer with governance approval, but these contracts are controlled by governance, so the stability of the blockchain is not affected. In addition, when Verse-Layer transactions are published to Hub-Layer, Rollup minimizes the number of transactions on Hub-Layer, so the increase in Verse-Layer transactions does not affect the performance and scalability of Hub-Layer.

High Data Availability

The transaction data on Verse-Layer (Layer 2) is reflected on Hub-Layer (Layer 1), so any event on Verse-Layer is verifiable.

Oasys launched its mainnet on October 25th and began maintaining the network's operation through 21 institutional nodes. In order to build a good gaming and public chain ecosystem, Oasys has chosen well-known gaming companies and Web3 companies as validation nodes. Currently, the main node parties include Bandai Namco Research, SEGA, famous gaming company Ubisoft, gaming union YGG (Yield Guild Games), Korean game developer com2us, and crypto investment firm Jump Crypto. After the mainnet goes live, Oasys plans to recruit more relevant companies as validators.

Oasys's 21 institutional nodes Oasys's Layer2: Verse Layer

Oasys named its 2-layer network the Verse Layer, with "Verse" coming from the latter half of "Metaverse," implying that each 2-layer network is an independent small universe where developers can create independent games or metaverse applications.

Currently, Oasys' Layer 2 network uses Optimistic rollups technology, but Oasys has canceled the 7-day challenge period for Optimistic rollups, making it faster than other blockchain Layer 2 solutions. The transaction speed on Oasys Layer 2 can reach the same level as Web2 products.

Oasys Network Operation Mechanism

In addition, because all data on Oasys is stored in the Hub-Layer, high data availability can be achieved, even if the Verse-Layer is lost, complete recovery is possible.

Currently, Oasys only supports Optimistic rollups. In the future, as Ethereum's scaling solutions continue to advance, Oasys will timely support ZK-rollups and other new technologies.

Oasys supports three types of tokens on-chain

Oasys network has both Fungible Tokens and Non-Fungible Tokens (NFTs). There are three types of tokens in the Oasys ecosystem based on different network layers.

Oasys ecosystem has three types of tokens

1. vFT/vNFT, 2 Layer Application Tokens

vFT/vNFT can be minted within the Verse-Layer, with "v" representing verse. These tokens can only be used within certain Verse-Layers. Such FTs (such as game coins) and NFTs (such as IP) cannot be bridged across chains.

2. oFT/oNFT, Hub interoperable tokens

oFT/oNFT can be minted on the Hub-Layer, with "o" representing center. The token is interoperable and can be used on all Verse-Layers. Additionally, it can be sent to another network, such as Ethereum, through a cross-chain bridge.

3. exFT/exNFT, external network tokens

exFT/exNFT are tokens minted on networks outside of Oasys, with "ex" representing external. They can be used on Oasys' Hub-Layer and Verse-Layer through cross-chain bridges.

Token Economics of the Project

The entire token economy of Oasys is based on a multi-token economy, rather than solely using the OAS token (the native token of Oasys). The OAS token serves as the foundational native token of the Oasys ecosystem; Verse tokens are used to create an ecosystem for each Verse; game tokens and Dapps tokens are used for games and Dapps in Verse.

The reason for adopting a multi-token economy instead of a single-token economy is to allow Verse developers and game developers the opportunity to freely create their own ecosystems.

Each Verse developer can build their own token utility ecosystem, token issuance total, and token distribution based on the characteristics of their Verse. For example, a permissionless Verse can use Verse Token as payment for gas fees. Games and Dapps can also issue tokens, and token economics can be optimized for each game or Dapp.

Oasys' native main token is OAS, which is the highest level token in the entire Oasys ecosystem. The total supply of OAS is 10 billion. Six years after the mainnet launch, OAS token holders will determine additional staking reward supply through decentralized governance.

Oasys native main token distribution ratio

The OAS token has the following uses:

1. Gas Fees

Gas fees are required for cross-layer transactions between the Verse Layer and Hub Layer, using Bridge contracts, or running contracts on the Hub Layer. The gas fees for rolling up are paid by Verse developers. As the Oasys ecosystem develops and more Verse Layers are added, the number of transactions on each Verse increases, resulting in higher gas fees. However, Oasys' gas fees increase gradually, so the negative impact of rising gas fees is minimal.

2. Verse Development Staking

Anyone can establish a Verse by depositing more than 1 million OAS into the Verse contract. By collecting a certain amount of initial Verse development fees, Verses can expand their ecosystem while preventing malicious behavior.

3. Decentralized Governance

OAS token holders can participate in Oasys' decision-making through decentralized governance. Proposals include adjusting staking reward inflation rates, fund usage, and voting decisions on which types of contracts to develop on the Hub-Layer.

4. Pledge Rewards

Pledging OAS tokens can earn pledge rewards. Anyone who pledges more than 10 million OAS on the verification contract can become a network validator.

5. Payment

In many games, there are a large number of small payments made every day. In the Oasys ecosystem, the OAS token can be used for small payments both inside and outside of the game. The OAS token will serve as a key currency throughout the entire Oasys ecosystem. This is similar to the position of ETH in the Ethereum ecosystem.

Oasys native main token release cycle

Project Progress and Roadmap

Oasys has launched its mainnet on October 25th, and the first batch of 21 nodes have been deployed and are now running. On December 5th, Oasys announced the opening of Oasys Hub, where users can choose nodes to authorize and stake to receive token rewards. On December 12th, Oasys' native token OAS officially listed on 5 exchanges including OKX, Huobi, Gate, Kucion, and Bybit for trading.

Currently, it can be seen on the official website that 3 Verses have been established on Oasys, and a total of 11 game projects have been created on these 3 Verses.

Oasys announced on December 8th that it will collaborate with acclaimed game development director Yu Suzuki to launch the first NFT project based on the Oasys blockchain, called OASYX. OASYX will create 10,000 NFTs with well-known traditional game creators and artists, and will be distributed by double jump.tokyo. OASYX NFTs provide practical privileges to their holders, allowing them to participate in the Oasys ecosystem, such as future game projects on Oasys.

Oasys project design roadmap

Oasys' next major plan is to continue expanding its ecosystem, gradually supporting ZK-Rollups and Ethereum 2.0, as well as promoting the widespread adoption of the Oasys gaming public chain, achieving thousands of on-chain applications and billions of users. The goal is to become a fully DAO-operated and sustainable gaming public chain within 6 years.

Original article link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia