April 27, 2022 – Toronto, Canada
After eight months of hard work, the H2O team announced the launch of H2O, a milestone for the entire Web 3.0 data economy. H2O is a non-indexed and decentralized stablecoin asset backed by OCEAN. H2O is now live on the Ethereum mainnet.
In any industry, the transformative power of data is impossible to ignore. McKinsey reports that data “can help unlock $3 trillion to $5 trillion in economic value.” The Economist writes that “the world’s most precious resource is no longer oilbut data. With AI mature enough to unlock the value of data, data becomes the planet’s most important asset.
In its early days, the “data revolution” was dominated by big tech. Fortunately, Web 3.0 is beginning to take over a significant chunk of the innovation design space, reaping the benefits of the parabolic growth of the data economy by thinking of the many, instead of concentrating value in the hands of the few.
While access to data in the Web 2.0 paradigm is limited by mega-corporations such as Google, Amazon, and Meta, Web 3.0 offers a new way for users and builders to level the playing field for this asset. precious.
Individuals should no longer remain in the dark or act as passive users without rights to the value they create. It’s now 2022, and Ocean Protocol has matured a lot to realize its vision of democratizing access to data while preserving the privacy of those who create it and respecting the human values of individuals who would otherwise be considered simple exploitable assets by tech giants. .
H2O was designed to be the stable asset to catalyze trading and staking of data assets in the ocean market and other ocean-powered data markets in the web 3.0 data economy. booming.
Using H2O reduces data price volatility compared to using OCEAN directly. It will benefit various usersdata providers will have more predictable revenues, data consumers will have more predictable costs, and data pool holders will have a reduced risk of impermanent loss.
In turn, these benefits will accelerate adoption and activity in ocean data markets.
With the launch of Ocean Version 4, then Ocean Data Farming (to boost data consumption volume), Ocean Protocol will become the Schelling point of the Web 3.0 data economy, as well as a flying of inertia for ever more data.
This virtuous cycle will be accelerated by the stable asset H2O for the benefit of users. Therefore, H2O has an important function and missiono Become the de facto medium of exchange in the Web 3.0 data economy.
Poseidon is the “non-governance” token of H2O, PSDN. PSDN holders will help guide the protocol in setting parameters while accumulating value through excess auctions and native emissions.
Users looking for more details on the fundamentals of H2O can click here to learn more.
To help seed H2O liquidity, Ocean holders can use SAFEssimilar to vaults where users can deposit OCEAN as collateral to monetize H2O.
Users can deposit your OCEAN tokens and cash in H2O here.
Staking opportunities for PSDN will go live within 24-36 hours of the Poseidon Token Generation (TGE) event, along with LP staking rewards for the following pools – ETH/PSDN, ETH/H2O, OCEAN /H2O and OCEAN/PSDN.
For more information on PSDN airdrop details for Ocean DAO governance participants and new DAO milestones, click here.
A glimpse of the future
For its version two, H2O will transition to a multi-collateral model, where it will be backed by data assets in addition to OCEAN. It is an idea that breaks paradigms. It is a stable asset backed by a new asset classdata themselves.
With data as a trillion-dollar asset class, it positions H2O extremely well for long-term stability and increases its appeal beyond basic data-oriented users into the broader DeFi ecosystem.
In short, H2O exists to accelerate the transition to a new data paradigm.from closed to open, from volatile to stable.
Sebastian Gomez, Commercial Manager at H2O, said:
“We want users and manufacturers, data providers and data scientists to participate in the democratization of access to data. We believe that this transition alone could trigger a new renaissance in many industries. The full outcome of the paradigm shift is impossible to anticipate, but we know it will be significant.
“The decentralization and democratization of data, along with the protection of its market players from aggressive price volatility, creates a watershed moment for society.and we are honored to be in the eye of the storm, grateful to our community and our team members who believe a new path is possible. We are conscious and excited that these changes have the potential to change everything.
H2O is the first non-indexed stablecoin asset for the Web 3.0 data economy, with a managed float regime that serves as a medium of exchange and unit of account in decentralized data markets.
To join the growing community of builders and users engaged in decentralized data economies in DeFi, users can visit one of H2O’s community channels here.
Bruno Ahualli, managing partner of Kilonova Ventures
This content is sponsored and should be considered promotional material. The opinions and statements expressed herein are those of the author and do not reflect the views of The Daily Hodl. The Daily Hodl is not a subsidiary or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making high-risk investments in ICOs, blockchain startups, or cryptocurrencies. Please note that your investments are at your own risk and any loss you may suffer is your responsibility.
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