H2O 🌊🔱 — January Newsletter
H2O community, 👋👋
Happy New Year! 🎆 As we start the year off, we wanted to share with you what’s been happening and provide updates on some events in the Web3 Data Economy. Many advancements have taken place and new initiatives are underway. So sit back, grab a cup of coffee, and read on to learn more about what we’ve been up to in January!
Project Updates
1. psdnOCEAN update
Since psdnOCEAN launched, the protocol has received tremendous support from the H2O community. As of this writing, the psdnOCEAN contract holds 6.79% of the total $OCEAN locked (veOCEAN).
H2O is continuously developing liquid staking solutions for its users. In the coming months and according to the latest roadmap, the protocol is set to release another liquid staking wrapper to add to its portfolio of liquid staking solutions. Don’t forget to tune in for more updates!
In case you want to learn more about psdnOCEAN, here are some resources you might want to look at:
- What is psdnOCEAN?
- psdnOCEAN short explanatory video
- How to stake psdnOCEAN
- psdnOCEAN FAQs
- psdnOCEAN security report
2. Data Farming update
This month, there was a major update on Data Farming rewards. From 50k $OCEAN, the total rewards per round are now 75k $OCEAN, starting DF19.
50% of the budget goes to passive rewards (37,500 $OCEAN) — rewarding users who hold veOCEAN (locked OCEAN) while
50% of the budget goes to active rewards (37,500 $OCEAN) — rewarding users who allocate their veOCEAN towards productive datasets (having DCV).
3. Changes in $PSDN Emissions
Recently, H2O released an announcement on the $PSDN emissions changes. From 1,514 $PSDN distributed weekly, emissions are now based on a new model where the following rules apply:
- Emissions to the LP — PSDN/ETH are fixed at 100 PSDN weekly at the moment, as we will be focusing on PSDN tokens going forward, meaning that we need to keep the pool liquid. The APR on the pool is planned to be above 20% to cover the impermanent loss, ceteris paribus.
- Emissions to other vaults/pools are no longer fixed — they will be calculated by the model:
3. The following breakdown of the rest :
psdnOCEAN/OCEAN LP: 30%
psdnOCEAN Single Sided: 45%
psdn Single Sided: 25%
H20/USDC LP: 0%
Find more about the new changes in this blog. You will also find the new schedule on H2O’s Gitbook.
4. H2O staking opportunities
Users can take advantage of both regular and liquid staking pools on H2O dapp. The following are the updated APRs as of this writing.
Liquid staking pools:
⚡psdnOCEAN single-sided staking — 36.2%
⚡psdnOCEAN/OCEAN LP — 69.4%
⚡PSDN single-sided staking — 42.7%
Regular staking pools:
⚡H2O/USDC — 0%
⚡PSDN/ETH — 24.95%
⚡FLX single-sided — 15.30%
⚡FLX/ETH — 142.78%
⚡RAI/3CRV — 22.79%
Visit https://h2odata.xyz/ to learn more about these pools.
5. Web3 Data Economy update
Outside H2O, there have been significant updates on some projects in the Web3 Data Economy, including Ocean Protocol, Filecoin, Redacted Cartel, and New Order DAO.
- Lighthouse, a perpetual storage protocol built on Filecoin, collaborates with Ocean Protocol to bridge decentralized storage to the entire Ocean Protocol Ecosystem.
- Filecoin is hosting its FVM Space Warp Hackathon from January 20-February 10, 2023. 3 x $10,000 will be awarded to projects with the best overall use of Filecoin’s Virtual Machine.
- DesightsAI was launched this month. This new project is a Web3 data competition platform built on Ocean Protocol tech for the toughest AI & ML challenges.
- Ocean Shipyard opens a new round of funding of up to 2M $OCEAN. In 2023, Ocean Shipyard actively seeks new DeFi projects that utilize the Ocean stack for purposes such as data NFT fractionalization, data NFT loans, and innovative AMM designs.
- Redacted Cartel introduces Pirex GMX for GMX and GLP holders to tap into GMX’s explosive growth.
- A proposal to incubate Sector Finance as New Order’s next incubate project is now live. Sector Finance is a structured product protocol built to minimize DeFi inefficiencies through transparent yields and diversified risk management.
5. H2O’s community is expanding!
Join the growing community and stay updated on exciting rewards for liquidity providers and community incentives.
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
What’s coming? A new product is coming soon!
We couldn’t wait to share with you what’s underway–a new use case for H2O protocol users is on the horizon! In the upcoming weeks, we will be sharing more information about this exciting development. This is a great opportunity for you to expand your understanding of the H2O protocol and discover how you can benefit from it. So, make sure to keep an eye out for further updates and stay tuned to receive the latest information as soon as it becomes available.
Don’t miss out on the big waves, folks! 🔱🌊
