H2O 🌊🔱 — December Newsletter
Hey H2O community! đź‘‹
What a year it has been! From the highs and lows, to the twists and turns, it’s been a rollercoaster of a year. But through it all, we’ve persevered and come out stronger on the other side. So as we close the door in 2022, let’s take a look back at the events that defined it. From launching H2O and psdnOCEAN to growing the community of H2O users, it’s been a year to remember.
Join us as we recount the top stories and moments of 2022! 👇
H2O Launch
In April 2022, H2O was launched.
$H2O is a fork of Reflexer’s RAI that uses the same stabilization model. The main difference is that $H2O is supported by $OCEAN and data tokens, rather than ETH. $H2O was designed to serve as a stable asset for facilitating the trading of data assets on the Ocean Market and other Ocean-powered data markets in the growing Web3 Data Economy. By using $H2O, the price fluctuations of data can be reduced compared to using $OCEAN directly. This will be beneficial for various stakeholders: data providers will have more predictable revenue and data consumers will have more predictable costs.
Here are some insightful guides to learn more about H2O:
H2O & DataX Partnership
To further accelerate the DataFi Economy, H2O partnered with DataX–a decentralized data finance (DataFi) protocol, building financial infrastructure on datasets. DataX possesses the “ability to create money markets on datasets and make them liquid assets.” This collaboration with two important protocols creates a synergy. H2O will operate as the primary medium of exchange for DataX’s products built on top of Ocean.
Read more about the partnership here.
H2O Strategic Funding
H2O’s strategic round was completed in April 2022, raising $1,250,000 for 5% of its token supply of $PSDN governance tokens, from a number of notable angel investors, VCs, and DAOs. The funding round was led by Ocean’s Trent McConaghy & Bruce Pon and joined by other notable investors such as Big Brain Capital, Next Web Capital, 0xVentures, GAINS Associates, HG Ventures, and Small Cap Scientist. New Order and Reflexer Labs have also been part of H2O’s huge launch success.
Check the funding announcement here.
H2O & Redacted Cartel Partnership
H2O has entered into a strategic partnership with Redacted Cartel. As part of this partnership, Redacted will help H2O secure a factory pool on the Curve platform once H2O finishes its bootstrapping phase.
More information about the collaboration is here.
H2O & Gamma Partnership
Another partnership closed by H2O is with Gamma–an open-source system that allows for the verified and non-custodial management of concentrated liquidity pools through active portfolio management. By working with Gamma, H2O users will have the option to deposit their liquidity provider (LP) tokens directly with Gamma. This means that they will not have to worry about managing active liquidity positions themselves.
Read about the partnership here.
H2O & Push Protocol Partnership
To better serve H2O users, H2O worked with Push Protocol to provide H2O’s Notification Service. As of November, over 5,900 notifications have been sent to users already. Users are encouraged to subscribe to this notification service for better Safe management.
To know about Push Protocol and H2O’s Notification Service, check it out here.
H2O & Synapse Partnership
Users can now transfer H2O across Ethereum and Polygon, thanks to Synapse!
Synapse is a well-known cross-chain liquidity network that has gained popularity since its launch in August 2021, reaching a peak total value locked (TVL) of $1.2 billion in early 2022. With this partnership, holders of H2O will be able to access the Ocean Market on both blockchain networks. In the future, Synapse will serve as H2O’s trusted partner for all cross-chain bridges.
$H2O on Ocean Market
In August, $H2O became available on Ocean Market. With this update, publishers now have the option to use either $H2O or $OCEAN as the base token for pricing their datasets on Ocean Market. By choosing $H2O, publishers can take advantage of a more stable pricing model, which helps them better predict their costs. Data consumers also benefit from this change, as they can more accurately estimate the cost of data when it is priced in H2O.
A more detailed announcement was published here.
H2O’s Electricity Dataset on Ocean Market
Not long after $H2O’s integration on Ocean Market, the protocol’s electricity dataset was listed on the same platform. Now, users who need data about US electricity retail prices can consume the dataset and use it for personal or business purposes. This dataset includes the average retail prices of electricity for various sectors in each state in the United States from January 2001 up to the present and will be continuously updated by H2O.
Check out the dataset on Ocean Market.
H2O Roadmap v2
H2O Roadmap v2 was launched as part of the protocol’s long-term plans. In the new roadmap, the team presented its modified plan, including the launch of its first liquid staking wrapper for veOCEAN, the second and third liquid staking wrappers to release in 2023, $H2O’s multicollateralization, H2O swap, and data-backed $H2O.
You can read more about the new roadmap here.
psdnOCEAN Launch
H2O’s first liquid staking wrapper for veOCEAN is here!
psdnOCEAN was successfully launched in October. The H2O protocol received tremendous support from its community, as well as the whole Ocean ecosystem. In just a matter of days, the psdnOCEAN contract held 5% of the total locked $OCEAN (veOCEAN) and as of this writing, 5.8% is currently held in the psdnOCEAN contract.
As part of the launch, liquid staking LPs were opened on H2O’s new liquid staking dashboard.
⚡psdnOCEAN single-sided staking
⚡psdnOCEAN/OCEAN LP
⚡PSDN single-sided staking
$OCEAN holders who convert their tokens to psdnOCEAN are strongly encouraged to stake their psdnOCEAN to maximize rewards from veOCEAN, data farming, and PSDN emissions.
While liquid staking LPs are an attractive venture for H2O users, regular staking is still in place on H2O’s staking platform.
⚡H2O/USDC
⚡PSDN/ETH
⚡FLX single-sided staking
⚡FLX/ETH
⚡RAI/3CRV
Here are helpful resources and guides to refresh your mind about psdnOCEAN:
- What is psdnOCEAN?
- psdnOCEAN short explanatory video
- How to stake psdnOCEAN
- psdnOCEAN FAQs
- psdnOCEAN security report
What’s in it for 2023?
Both the web3 data economy and DeFi are still in their early stages of development and adoption, and there is ongoing innovation and experimentation in these areas. There are a number of projects and protocols, such as H2O itself, Ocean Protocol, Datalatte, DataX, Filecoin, Arweave, and Streamr, that are working to establish the infrastructure and tools needed to facilitate the exchange and use of data and financial services on the blockchain. There are also a growing number of applications and services that are being built on top of these platforms.
It’s worth noting that the web3 data economy and DeFi are still relatively new and untested, and there are many untapped opportunities and potentials. H2O will continue to revolutionize DataFi and DeFi. In 2023, new and exciting use cases for both users and the broader web3 data economy will be revealed. Big waves are coming! Be ready! 🌊🌊
Be part of the ever-growing H2O community today!
Twitter: https://twitter.com/H2O_data
Telegram: https://t.me/+B-kPH_L5ONc4ZTM0
Discord: https://discord.com/invite/gvGjP9HyQW
Medium: https://medium.com/h2o-data
