H2O 🌊🔱 — October Newsletter
October was epic! 🚀🚀
The community’s unwavering support throughout the last month has been overwhelming, and we are grateful beyond words. Let’s recall our major milestones in October. 👇
Project Updates
1. psdnOCEAN successfully launched!
The long wait is over. psdnOCEAN–the first liquid staking wrapper for veOCEAN is finally here! $OCEAN holders are now able to convert their tokens, stake psdnOCEAN, and share a percentage of H2O’s yield from veOCEAN, Data Farming, and $PSDN emissions.
Here’s a summary of how rewards are distributed:
Rewards for psdnOCEAN/OCEAN LP:
- 80% revenue share of locked veOCEAN (4 years) through psdnOCEAN.
- 80% revenue share generated through the allocation of veOCEAN in Data Farming.
- $PSDN Emissions
Rewards for psdnOCEAN single-sided staking:
- 15% revenue share of locked veOCEAN (4 years) through psdnOCEAN.
- 15% revenue share generated through the allocation of veOCEAN in Data Farming.
- $PSDN Emissions
Rewards for PSDN
- 5% of total revenue generated through psdnOCEAN and Data Farming.
- $PSDN emissions
Read our announcement post for more details about psdnOCEAN.
Check out this guide on how to convert and stake psdnOCEAN on our Gitbook. We’ve also gathered common questions about psdnOCEAN. Browse our FAQs page here.
2. New LPs have been added to the H2O dapp.
Now that psdnOCEAN is live, we’ve added three new LPs to our liquid staking dashboard.
âš¡psdnOCEAN/OCEAN LP
âš¡psdnOCEAN single-sided
âš¡PSDN single-sided
As of this writing, stakers can collect as much as 44.4% APR on psdnOCEAN/OCEAN LP.
Here’s the link to our liquid staking dashboard: https://liquid-staking.h2odata.xyz/stake
3. Weekly voting rounds for psdnOCEAN stakers are now open.
psdnOCEAN holders who stake their tokens on psdnOCEAN single-sided pool are vested with the right to vote on datasets to influence the allocation of the protocol’s veOCEAN voting power.
The weekly voting round starts every Wednesday, 6PM CET and ends Wednesday, 6PM CET. psdnOCEAN stakers have 7 days to vote and can choose from multiple datasets. After the voting period, H2O will execute the proposal based on the result of the votes. Datasets with the highest votes will be prioritized.
What’s in it for psdnOCEAN stakers? You may ask. Voting on datasets with the potential to have more volume in the upcoming week will help the protocol make the right voting decision. If H2O votes on datasets with more volume, the protocol will be able to collect more DF rewards.
For instance, psdnOCEAN contract gathered the most rewards during DF8, accounting for 37% of the total distributed DF active rewards.
4. Data Farming rewards are now up to x5 as it enters its Beta phase.
Lastly, For DF9 — the first week of DF Beta — the budget will be 50K $OCEAN. This is a 5x increase in rewards compared to DF/VE Alpha. As before, 50% of the budget goes to passive rewards (25K $OCEAN), and 50% to active rewards (25K $OCEAN).
Read more information here: https://blog.oceanprotocol.com/data-farming-df8-completed-df9-started-32449b9a52c6
5. Our growing community is always ready to welcome you.
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
Haven’t heard our Podcast with Ocean Missions yet? Listen on Spotify.
What’s Coming?
psdnOCEAN is just the first liquid staking wrapper on H2O’s new roadmap. The team is continuously working on the next developments to ensure the plans put in place are carried out. H2O will consider the state of the Web3 Data Economy as it steps up with more protocol developments in the future.
