Throne: A Web3 Metaverse and NFT Trading Platform

Sorry, friend! In the world of blockchain, project names and tickers can sometimes be confusing. Based on the information I’ve gathered, the “Throne” and “OATH” you mentioned seem to refer to two different blockchain projects. * One project is called “Throne”, whose token ticker is usually THN, mainly an NFT marketplace and metaverse project. * Another project is “OATH Protocol”, with the ticker OATH, which is a decentralized dispute resolution protocol and DeFi governance token. Since you provided both the project name “Throne” and the ticker “OATH”, and “OATH” as a ticker matches “OATH Protocol” very closely, plus the OATH Protocol whitepaper details its nature as a “protocol”, which fits the category of a “blockchain project” better, I’ll mainly introduce **OATH Protocol** to you. ***

What is OATH Protocol

Imagine we sign a smart contract, like an automatically executed digital agreement. Once this agreement is written and put on the blockchain, it’s hard to change. But what if disagreements arise in the future, such as different interpretations of the contract terms or unexpected execution results? In the traditional world, we’d hire lawyers or go to court. In the decentralized world of blockchain, OATH Protocol (ticker OATH) acts as a “decentralized court” and “arbitration system” for smart contracts.

It’s a blockchain-based dispute resolution protocol, serving as an infrastructure layer between blockchains and decentralized applications (dApps). Its core goal is to provide smart contracts with a reliable “guarantee”, ensuring that even if disputes arise, they can be resolved in a fair and transparent way, thus improving the reliability of smart contracts.

Typical usage process: When two parties create a smart contract, they can pre-embed OATH’s “Smart Arbitration Plan” (SAP) in the contract. If a dispute occurs in the future, this plan is triggered, requiring a certain amount of OATH tokens to be staked to initiate the dispute resolution process. The OATH protocol encrypts the dispute content and stores it on the OATH blockchain, forming an immutable case record for jurors and stakeholders to review at any time.

Project Vision and Value Proposition

The vision of OATH Protocol is to bring “justice and fairness” to the blockchain world. The core problem it aims to solve is: current smart contract systems lack a comprehensive and fair dispute resolution mechanism. Before protocols like OATH, once a smart contract was deployed, if problems occurred, they were often hard to resolve effectively, limiting the widespread adoption of smart contracts.

OATH delivers its value proposition through the following ways:

• Transparency and reliability: Leveraging the transparency and immutability of blockchain to ensure case content cannot be altered or deleted.
• Fairness: Through a decentralized juror community and a unique “Proof of Common Sense” consensus mechanism to select jurors, while keeping juror identities confidential to avoid external influence and ensuring juror diversity to maintain objectivity.
• Scalability: As an infrastructure layer, OATH aims to serve various chains and dApps, making its dispute resolution capability widely applicable.

Compared to similar projects, OATH focuses on providing a robust, fair, transparent, and scalable dispute resolution protocol, positioning itself as a blockchain governance system that effectively safeguards smart contracts.

Technical Features

The technical core of OATH Protocol lies in its unique dispute resolution mechanism and blockchain architecture:

• Proof of Common Sense consensus mechanism: This is OATH’s unique mechanism for selecting a decentralized juror community. You can think of it as a jury composed of community members, selected by a certain mechanism, who judge disputes based on “common sense” rather than purely on computing power or staked tokens.
• Blockchain storage: Detailed information and resolution results of dispute cases are encrypted and stored on the OATH blockchain. This means that once recorded, this information cannot be tampered with, ensuring the integrity of evidence and reliability of historical records.
• Smart contract extension: As a protocol, OATH can be used as an extension to smart contracts, allowing both parties to set dispute resolution parameters at contract creation.

Tokenomics

The native token of the OATH project is also called OATH. It plays multiple roles in the entire ecosystem:

• Token symbol: OATH
• Issuing chain: OATH tokens were initially issued on the Ethereum blockchain. Currently, they also exist on Optimistic Ethereum, BNB Smart Chain, Fantom, Polygon, Avalanche, and Arbitrum, among other networks.
• Total supply and circulation: The maximum supply of OATH tokens is 400 million. According to self-reported data, about 171.86 million tokens are currently in circulation, accounting for about 42.96% of the maximum supply.
• Token utility:
  • Governance: OATH is the project’s decentralized governance token. This means OATH holders can participate in project decisions, voting on protocol upgrades, improvements, and expansions.
  • Dispute resolution staking: In smart contracts, if both parties choose to use OATH’s Smart Arbitration Plan to resolve potential disputes, a certain amount of OATH tokens must be staked as collateral.
  • Ecosystem management: OATH tokens are also used to manage other DeFi protocols and dApps in the OATH ecosystem, such as Reaper.Farm, Ethos Reserve, and Digit.

Team, Governance, and Funding

• Team: Although specific team member information is not detailed in available materials, the OATH Protocol whitepaper was released in 2018, and a token generation event (TGE) was held in 2019.
• Governance mechanism: OATH adopts a decentralized governance model, with OATH token holders at its core. They can vote to influence the project’s development direction and major decisions. This is like a community self-governance model, allowing all stakeholders to participate in project management.
• Funding: OATH Protocol completed its token generation event (TGE) on April 1, 2019, raising a total of $4 million, with a projected project valuation of $14 million.

Roadmap

The development history and future plans of OATH Protocol are as follows:

• Q1 2018: Conducted market research, released the OATH whitepaper, and completed proof of concept.
• Q2 2018: Tested the OATH chain.
• Q4 2018: Carried out fundraising and team building, and developed partnerships.
• Q1 2019: Released the OATH MVP (minimum viable product) web client and integrated with partners.
• Q3/Q4 2019: Updated protocol features, deployed oracle services and smart contracts, and began building the juror community.

(Please note, the above roadmap information is mainly from the early whitepaper; for more recent and detailed roadmaps, please refer to the latest official project materials.)

Common Risk Reminders

Investing in any blockchain project carries risks, and OATH Protocol is no exception. Here are some common risk reminders:

• Technical and security risks:
  • Smart contract vulnerabilities: Although OATH aims to resolve smart contract disputes, its own smart contract code may also have vulnerabilities, leading to asset loss or protocol attacks.
  • Consensus mechanism risk: The effectiveness and security of the “Proof of Common Sense” consensus mechanism need time to be validated. If the jury mechanism is biased or manipulated, it may affect the fairness of dispute resolution.
  • Cross-chain risk: Since OATH tokens exist on multiple chains, cross-chain operations may introduce additional technical complexity and security risks.
• Economic risks:
  • Token price volatility: The price of OATH tokens is affected by market supply and demand, macroeconomics, project development, and other factors, and may fluctuate sharply, posing investment loss risks.
  • Liquidity risk: If OATH token trading volume is insufficient, it may be difficult to buy or sell, affecting asset liquidity.
  • Adoption risk: If the OATH protocol is not widely adopted, the utility and value of its token may be limited.
• Compliance and operational risks:
  • Regulatory uncertainty: Global regulatory policies on cryptocurrencies and blockchain projects are still evolving, and future policy changes may impact the operation and development of the OATH protocol.
  • Competition risk: The blockchain field is highly competitive. If better dispute resolution solutions emerge, OATH may face competitive pressure.
  • Team execution risk: The project’s success largely depends on the team’s execution ability and community engagement.

Verification Checklist

• Block explorer contract addresses:
  • Optimistic Ethereum: 0x00e1724885473b63bce08a9f0a52f35b0979e35a
  • Ethereum (ERC-20): 0x6F9C26Fa731C7Ea4139Fa669962Cf8b0B (Note: This address is from CoinMarketCap and may differ from the Optimistic Ethereum address, representing tokens on different chains)
• GitHub activity: No direct link to the OATH Protocol GitHub repository or activity information was found in the current search results. It is recommended to visit the official website (oath.eco) for relevant developer community or codebase information.

Project Summary

OATH Protocol is a project designed to provide decentralized dispute resolution mechanisms for blockchain smart contracts. By building a decentralized juror community driven by the “Proof of Common Sense” consensus mechanism, it resolves disputes that may arise during smart contract execution and leverages blockchain transparency to ensure the fairness and immutability of the dispute resolution process. The OATH token is the core of its ecosystem, used not only for governance but also as collateral to initiate dispute resolution processes and to manage other DeFi protocols.

The emergence of OATH Protocol removes a major obstacle to the widespread adoption of smart contracts, as it solves the trust and dispute resolution problem, which is crucial in the decentralized world. However, any emerging technology and project comes with inherent risks, including technical maturity, market acceptance, regulatory environment, and token price volatility. Before considering participation in any blockchain project, be sure to conduct thorough independent research (DYOR) and understand the risks involved.

Not investment advice: Please remember, all the above information is for learning and reference only and does not constitute any investment advice. The cryptocurrency market is highly volatile and investing carries risks. Please be cautious.

Finally, regarding the “Throne” project you mentioned, if it refers to the NFT marketplace and metaverse project with the token THN (such as thr.one), then it is a different project from OATH Protocol. Throne (THN) is an NFT marketplace for creators and collectors to discover, collect, and sell digital art, and plans to build a metaverse “Throne City”.