H2O 🌊🔱 — November Newsletter
H2O community, we’re back with another monthly update! 👋
November was quite a ride. The crypto market has, again, surprised us with unfavorable events that influenced market actions. Despite the downturn, our community remained resilient and focused on the long term. While the market continuously exposes projects that lack a solid foundation to withstand the market downswing, here we are–unceasingly building.
Let’s recap what happened in November 👇
Project Updates
1. psdnOCEAN now has 7.4% of the total locked $OCEAN (veOCEAN).
We’re proud to share that the psdnOCEAN contract now holds 7.4% of the total locked $OCEAN (veOCEAN). The H2O community has been a valuable source of support and guidance as we strive to offer more options for liquid staking in the data economy.
Here are helpful guides for understanding psdnOCEAN:
2. Staking opportunities on H2O
The protocol offers normal staking and liquid staking opportunities. Currently, there are three active LPs on H2O’s liquid staking dashboard:
⚡psdnOCEAN single-sided staking — 55.3%
⚡psdnOCEAN/OCEAN LP — 37.1%
⚡PSDN single-sided staking — 35.1%
A friendly reminder that psdnOCEAN must be staked to enjoy the benefits of the liquid staking wrapper.
Meanwhile, normal staking LPs can be accessed through https://app.h2odata.xyz/:
⚡H2O/USDC — 58.44%
⚡PSDN/ETH — 25.40%
⚡FLX single-sided — 9.54%
⚡FLX/ETH — 22.62%
⚡RAI/3CRV — 27.81%
Note: The APRs above are updated as of December 2, 2022. For the most accurate rates, visit https://www.h2odata.xyz/.
3. New psdnOCEAN explanatory video is up on our Twitter profile.
We released a new explanatory video about psdnOCEAN that users will find helpful to learn more about the utilities of H2O’s first liquid staking wrapper. Access the video here.
4. Ocean introduced Ocean Data Challenge: Storage Network Energy Consumption
Ocean added a new strategic program to incentivise data-driven insights — the Storage Network Energy Consumption initiative. This program is designed to encourage insights into the Filecoin network’s energy consumption and generate reports with novel findings. Up to $6,000 worth of rewards paid in $OCEAN is up for grabs. Read more details here.
5. A new voting round strategy for psdnOCEAN stakers.
We recently announced that each voting period for psdnOCEAN stakers is shortened– now from Friday, 6 PM to Saturday, 6 PM. This will allow for quicker responses to market events and early allocation of voting power for maximum rewards.
psdnOCEAN stakers, your vote matters. 🗳 We encourage you to vote on a weekly basis to determine the protocol’s allocation of veOCEAN.
Check out our Snapshot for more information.
6. H2O’s electricity dataset
H2O’s electricity dataset is available on Ocean Market, which data consumers can avail of with $H2O. It includes electricity price data from January 2001 up to the present month.
The dataset is useful for those seeking information on the average retail price of energy across sectors in each US state to predict future electricity prices or conduct in-depth research when paired with other datasets.
Visit the Ocean Market to deepen your understanding of electricity retail prices.
7. Other Data Economy updates
- Ocean collaborates with Peaq Network to leverage Ocean technology and power robust technical frameworks for robots and devices to share data.
- Ocean, Datarella, and Biennale de Paris launched DIA Marketplace–a place for Decentralised Invisual Art.
- Delta DAO launched Gen Z decentralized data exchange network powered by Polygon and Ocean.
8. Our community is growing!
We’d be thrilled to have you as part of our community! Join our channels below:
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
Check out our Podcast with Ocean Missions on Spotify.
What’s coming?
The data economy is a key part of the Web3 vision, and H2O is proud to be part of a system that enables individuals and organizations to collect, analyze, and use data in new and innovative ways. As the team builds more liquid staking solutions and observes the data economy closely, psdnOCEAN will continue to serve protocol users with a better economic opportunity to stay liquid, move their assets freely or enjoy the benefits of liquid staking.
More use cases are coming as part of roadmap v2.
