H2O and DataX Partnership Accelerates the DataFi Economy
H2O is partnering with DataX — decentralized data finance (DataFi) protocol, building financial infrastructure on datasets. Data as an asset class will undeniably emerge as a principal sector in DeFi. The decentralized nature of blockchain opens up the opportunity for users to start reaping monetary benefits from their data. Users haven’t been able to do so because of the lack of infrastructure built on top of the decentralized data financial (DataFi) economy. However, DataX and H2O are changing that. DataX is building a suite of infrastructure products on top of the Ocean Protocol ecosystem, while H2O is launching a ocean-backed stableasset that will serve as the dominant medium of exchange in the Ocean Protocol ecosystem. The partnership between these protocols will spark an abundance of new data owners and data investors into the emerging Ocean data economy.
What is DataX
DataX’s most important feature “is its ability to create money markets on datasets and make them liquid assets.” DataX offers two products, but the team intends to ship plenty more. The first product, TradeX, is a decentralized exchange (DEX) that allows users to buy, sell, and trade datasets using any ERC-20 token. The second product, StakeX, enables users to stake their tokens in data pools to earn swap fees and staking rewards. Both these products are available on Datapolis app by DataX. The idea that users could make financial incentives seemed ludicrous a couple of years ago. Now it’s a reality. Head over to Datapolis and start putting your data to work.
H2O and DataX Partnership
The partnership between H2O and DataX will accelerate the DataFi Economy. Why does this partnership make sense? The answer: synergies. H2O will operate as the primary medium of exchange for DataX’s products built on top of Ocean. It is a match made in heaven. Here are the details:
- H2O will serve as the default stablecoin for DataX’s products — limiting volatility throughout DataX and the Ocean ecosystem.
- Users will be able to mint and redeem H2O directly from the Datapolis app.
- Support for trading and staking for the H2O liquidity pool.
H2O will continue to add utility to the DataFi economy as DataX ships more products. Stay tuned.
About H2O
H2O is an ocean-backed stableasset with a managed float regime that serves as a medium of exchange and unit of account in decentralized data marketplaces.
Welcome to H2O
We’d love for you to join our growing community of builders and users committed to decentralized data economies in DeFi. You can start by joining one or more of our community channels.
Disclaimer: This article has been published previously on our Mirror blog.
