As posted by a new community Discord, decentralised platform Oasis.app mentioned that sanctioned addresses won’t be able to access the application anymore, according to Cointelegraph. With regard to change in terms of service, wallets which are considered to carry high risk are prohibited from using the Oasis.app to manage positions or withdraw funds, as these users should interact directly with the relevant underlying protocol where funds are stored.
Based on information by Cointelegraph, Oasis raised a six million dollars Series A in 2020 to ensure DeFi buying and lending. The protocol has processed $4.6 billion worth of transactions in the last 30 days and manages $3.42 billion in deposits. It is yet to be identified whether the tools Oasis is using to identify wallets is deemed to be at a high risk. Moreover, Uniswap, a decentralised exchange, recently began to prohibit wallets related to illicit activities through the use of TRM Labs’ data. TRM Labs helps different bodies detect and investigate cryptocurrency-related financial crimes through on-chain analysis.
According to Oasis’s official website, it is a platform that allows decentralised finance (DeFi) users to borrow, multiply their exposure to cryptocurrency, and earn on their assets. The platform raised $6,000,000 in a Series A round from Libertus Capital and Road Capital, and raised $5,000,000 in a seed funding round from UDHC.
On the information provided by Cointelegraph’s official website, it is a digital media resource covering news on blockchain technology, cryptocurrency assets, and emerging financial technology (fintech) trends. Their team believes in the deliverance of up-to-date news from both the decentralised and centralised worlds. With technology breakthroughs occurring in fields such as artificial intelligence (AI), virtual reality (VR), nanotech, quantum computing, and an increasing number of businesses, entrepreneurs and consumers adopting blockchain technology in everyday life, the publication aims to inform, educate, and share information with its readers.
(With insights from Cointelegraph)
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