EPNS Push Notifications Arrive at DeFi on Oasis.app

Dai is considered among the most reliable stablecoins because the widely circulated coin is both pegged to the US dollar and backed by MakerDAO-approved crypto collateral. Dai can be created by opening Vaults (overcollateralized debt positions) through Oasis.app, which aims to be the most trusted decentralized application to interact with the Maker Protocol and to manage vaults. EPNS is pleased to deepen its exploration of push notification use cases, using Dai by launching a pilot program to provide decentralized push notifications for monitoring Maker Vaults on Oasis.app. Maker Vault owners can now enjoy a trading edge by receiving notifications when a price of an asset goes above or below a certain threshold, changing the collateralization ratio, and then being aware when the Vault risks being liquidated .

Maximize DeFi Opportunities With Oasis.app and Maker Vaults Powered by Push Notifications

With a market cap surpassing $5 billion, the usage of the Dai stablecoin is growing, particularly in DeFi applications where it is being combined in a multitude of ways with DeFi products to reduce price volatility. Oasis.app is the most trusted way to access the Maker Protocol so anyone can borrow and use Dai anywhere through its simple user interface.

Oasis.app makes it easy to borrow Dai by opening a Maker Vault, a deposit account for MakerDAO’s Dai. After connecting a wallet to Oasis, users can open a Vault, deposit collateral and generate Dai against it. Borrowers can choose from more than 30 crypto collateral sources (e.g., ETH, WBTC, USDT), with more added weekly, and all with their own risk parameters and minimum collateralisation ratios. Oasis connects to more than half a dozen wallets making it easy to collateralize Dai and borrow with no fixed repayment schedules.

Managing DeFi services, however, involves a lot of checking of different sources and messages from multiple platforms yet no central messaging service exists. One essential element is missing, decentralized push notifications. In order to worry less about what might happen, Oasis.app users are highly dependent on a notification service that would help them to manage their Maker Vaults, including:

  • When the Vault might be at risk of liquidation on the next price update due to a sudden price drop
  • When the Vault has reached a certain collateralization ratio that you’d like to take a certain action at, either to buy additional collateral, or repay.
  • When risk parameters, such as Stability Fee’s or Debt Ceiling changes are made by Maker Governance that affect a Vault you own.

Though Oasis.app simplifies access to the Maker Protocol, the lack of a decentralized push notification service, until now, means important notifications are distributed to multiple places, such as email or a Twitter or Telegram account. A push notification service sending all notifications to the Oasis.app wallet would allow all platform users to receive and take timely action on important DeFi notifications while still protecting data privacy as Oasis.app users interact with internal and external data sources.

Receiving notifications directly within Oasis.app will allow our customers to live a safer and conscious experience, without always worrying about checking different sources. It has always been one of the most asked-for features and that is why this partnership is crucial to us.- Chris Bradbury, CEO of Oasis.app

The EPNS Solution

The EPNS decentralized push notification service sends timely notifications through a single source of communication, the investor’s wallet. All Maker Vault notifications will go directly to the user’s Oasis.app wallet where they can track vault positions and take immediate action. EPNS is the first native, on-chain notification solution to stream all crucial time-sensitive information to a user’s wallet. The partnership benefits to Oasis.app users include:

  • EPNS will send all data notifications directly to Oasis.app user wallets.
  • The EPNS and Oasis.app teams will adapt the highly customizable EPNS protocol to meet the various push notification needs of Dai users in DeFi markets.
  • EPNS channels and users can customize their notification settings for different notification requirements.

How EPNS Will Support Oasis.app

Under this pilot program, EPNS is building a dedicated channel for Oasis.app (see our lightpaper for definitions of channels, services, and more). Oasis.app users can subscribe to the Oasis.app channel to receive customized notifications to their wallets. Through collaboration with the Oasis.app team, we will gain insight into the push notification needs of Maker Vault and Dai stablecoin users and what they want from the EPNS protocol.

Decentralized notifications will provide real-time Maker Vault data to Oasis.app Vault owners so all users can act in a timely manner and benefit from real time information on all their open Vaults.Meanwhile, all users can continue to operate within the private, secure ecosystem of Oasis.app across all DeFi services, without having to deal with integration pains across many different protocols.

Maker Vault is a powerful tool leveraging the stablecoin Dai to make borrowing, saving, and trading more efficient. Push notifications to the Oasis.app will ensure users can act in a timely manner and optimize their vault and DeFi positions, commented Harsh Rajat, Founder and Project Lead of Ethereum Push Notification Service.

Looking forward, we foresee many new EPNS notification channels being introduced for Oasis.app, in particular, and DeFi stablecoin uses in general. The use of collateral to reduce volatility and other risks is making decentralized finance accessible to more people. Push notifications will be essential to enable future Oasis.app users to take advantage of the best collateralization and liquidation rates. Thus, we view decentralized push notifications as an important service that will accelerate the mass adoption of DeFi. Since Oasis.app is at the forefront of creating a unified stablecoin-powered DeFi hub, we expect our partnership to yield many new useful notification services and features for the decentralized finance market.

The long-term goal of the pilot program is to develop a notification system for future versions of Oasis.app. DeFi users — who can easily integrate the EPNS protocol into their wallet — will expect push notifications to be an integral service. Going forward, we also plan to work closely with Oasis.app users to create new messaging solutions to meet their evolving push notification needs.

We are pleased to be partnering with Oasis.app and anticipate EPNS push notifications becoming an indispensable tool in stablecoin DeFi markets.

About Oasis.app

Oasis.app is the home for everything you want to accomplish with Dai. A decentralized application that runs on the Ethereum blockchain, Oasis aims to be the most trusted app to access the Maker protocol, get Dai and in general to deploy your capital into DeFi. Dai is a better, smarter digital currency for everyone. It is the world’s first unbiased currency and its value consistently tracks the US Dollar, which means it doesn’t suffer from the volatility associated with many other digital currencies.

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Shittu Olumide Ayodeji

Hello 👋 my name is Shittu Olumide, I am a skilled software developer and technical writer, compassionate about the community and its members.