The Maker Foundation yesterday launched Oasis Trade, a decentralized finance (DeFi) platform that runs on the Ethereum blockchain. Oasis Trade is a non-custodial, permissionless platform. Its order book is fully on-chain, it’s completely decentralized, and it uses open-source software.
Eventually, Oasis Trade will support a multitude of collateral assets backing the Dai token. And soon, users will also be able to earn savings by locking up Dai in a smart contract called Oasis Save. These savings will be automatic and non-custodial. Users will also be able to borrow funds by locking tokens up as collateral, which generates Dai.
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These new features will come with the launch of Multi-Collateral Dai, which will let users stake different sorts of tokens to generate Dai.
Oasis Trade is an upgrade from eth2dai.com, and like its predecessor it builds on the open-source OasisDEX Protocol, a decentralized token market. OasisDEX is one of the few DEXes that was fully on-chain, open-source, permissionless and decentralized. Anyone can build a project on it to contribute to the DeFi ecosystem at large.
And it’s been successful: “The OasisDEX Protocol is the biggest on-chain liquidity pool for the ETH/DAI market and it is fundamental to the health of the entire DeFi ecosystem,” said Bartek Kiepuszewski, Head of Oasis at Maker.