ROSE is the native token of the Oasis network. ROSE is used to pay transaction fees, staking, and delegation at the Consensus Layer.
A brief history
The Oasis Network was founded by Oasis Labs in 2018, and the mainnet of the protocol was launched in October of 2020. The Oasis Network is a Proof-of-Stake (PoS) blockchain network that’s designed to function as a privacy-preserving platform for open finance, and defines itself as the “world’s leading scalable, privacy-enabled blockchain.” Oasis Network can be used to build private smart contracts, which provide end-to-end data confidentiality, and its high scalability allows it to surmount slow transaction times and high transaction fees which exist on many other networks. Oasis achieves this scalability by separating its consensus and computational operations into what it calls the Consensus layer and ParaTime layer. The consensus layer hosts a secure and scalable consensus mechanism run by validator nodes- this is where blocks are validated and added to the blockchain. The ParaTime layer contains “Paratimes” which are runtime environments that represent computation in a shared state. Anyone can build their ParaTime and each ParaTime can be developed in isolation to meet the needs of the individual application. Having these two separate layers enables the network to process multiple transactions in parallel.
ROSE in practice
ROSE is the native token of Oasis Network, which was launched in November 2020. The total supply of ROSE tokens is capped at 10 billion. Approximately 1.5 billion tokens were released during the mainnet launch and added to the circulating supply. ROSE is used for paying transaction fees, delegation on the consensus layer and staking by validator nodes. Oasis Network has set aside 2.3 billion ROSE tokens to be used as staking rewards for delegators and stakers, who secure the network. The tokens earmarked for staking rewards are disbursed per the network’s mining mechanism. Additionally, anyone who has ROSE tokens can delegate their tokens to a validator and start earning a slice of that validator's staking rewards, based on how many ROSE tokens are delegated. Users can review the list of active Oasis Network validators via the Oasis Scan block explorer and validator leaderboard. You're welcome to delegate your ROSE tokens to any of the active validators.