How does volatility affect OAS?

Can you elaborate on how volatility impacts Option-Adjusted Spread (OAS)? Does an increase in volatility directly affect the OAS positively or negatively, and how does it factor into the calculation of the fair value of a security? Are there any mitigating strategies or risk management techniques that can be employed to offset the effects of volatility on OAS? Understanding these dynamics is crucial for investors and financial analysts to make informed decisions in the ever-evolving cryptocurrency and finance landscape.