H2O is the first non-pegged stable asset for the Web3 Data Economy. Initially, it is backed by the OCEAN token but in Q3 it will also be backed by other next-generation data tokens. H2O serves as a medium of exchange and unit of account in data marketplaces. The governing token of the protocol is POSEIDON, which will be used to govern the initial parameters of the protocol, bootstrap ecosystem development, and incentivize the liquidity of the protocol. We see H2O becoming the dominant medium of exchange and unit of account for data tokens, and positioning itself as an integral part of decentralized data economies.
H2O is governed by Poseidon, which allows holders to control and change protocol parameters, shaping the structure of the project. $PSDN also provides a backstop for $H2O stakers in case the H2O protocol becomes undercapitalized, operating as a line of defense. For providing stability in the ecosystem stakers are rewarded with emissions, closing the value loop, ensuring sustainable operations.
psdnOCEAN is the liquid staking wrapper for veOCEAN, and it allows users to exchange $OCEAN for psdnOCEAN and benefit from a liquid token that is, at the same time, a sustainable source of real yield.
