Introducing $H2O: The First Non-Pegged Stable Asset with Liquid Staking for Web3 Data Economy

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Are you ready for a new era of Web3 Data Economy? @H2O_data brings you the first non-pegged stable asset with liquid staking for the $OCEAN and $FIL ecosystems. Find out how $PSDN plans to follow in the footsteps of $Y2K and $BTRFLY, two of $NEWO's incubated projects. 🔥👇

In this thread I will cover; 1️⃣ What is $H2O? 2️⃣ Use Cases 3️⃣ Working Mechanism 4️⃣ $PSDN 5️⃣ Catalysts 6️⃣ Conclusion

1️⃣ What is $H2O? @H2O_data is a friendly fork of $RAI but using $OCEAN as collateral. In a nutshell, users can borrow $H2O by depositing $OCEAN into a safe vault.

We saw disastrous events last week with the $USDC depeg, and participants now understand the importance of removing counterparty risk. It is clear that we need a decentralized stable asset and dollar independence.

$H2O is a stable asset with a controlled float regime, similar to $RAI. Supply and demand determine the H2O/USD exchange rate, and the protocol constantly devalues and revalues it in an effort to keep prices stable.

2️⃣ Use Cases ✅ Reducing volatility of data prices in Ocean-powered data marketplaces ✅ Enabling $OCEAN holders to get more leverage ✅ Providing stability to DAOs as a reserve asset

3️⃣ Working Mechanism Similar to Safe vaults on Reflexer If colleteral price surges > more borrowing power > generate more $H2O > vault users sell $H2O > $H2O price decreases

Revaluing stage ; Positive redemption rates incentivize Vault users to buy $H2O from the market to repay their debt During the devaluing stage token holders can short $H2O while safe vault users can mint more $H2O. The redemption rate becomes negative to incentivize the process

4️⃣ $PSDN $PSDN embraces the governance minimization approach of Reflexer where they aim to autonomously set any parameters through external smart contracts This will take time to achieve; however, removing possible human error would be extremely helpful towards decentralization

$PSDN/$OCEAN LP is staked to create a backstop mechanism in case the protocol is undercapitalized. $H2O resource flow is directed by $PSDN governance until reaching ungovernance.

Emissions and tokenomics were revamped in January to mitigate selling pressure at a 1/10 rate.

After decreasing emissions, the PSDN price stabilized and has been on an increasing trend due to the LSD narrative.

5️⃣ Catalysts: ✅ The first liquid wrapper for $OCEAN has been introduced, where users can exchange $OCEAN for $psdnOCEAN and earn $veOCEAN rewards and $PSDN emissions. twitter.com/oceanprotocol/status/1629160967316668423?s=20

✅ The endgame for $H2O is to be the first non-pegged stable asset collateralized by dataFi LSDs. With this goal in mind, they recently announced $psdnFIL, a liquid staking wrapper for $FIL .

@Filecoin has launched FVM to support smart contracts and @H2O_data will be a good play for exposure to the $FIL ecosystem. twitter.com/H2O_data/status/1633460903306989575?s=20

✅ Release of $vlPSDN $vlPSDN is a locked PSDN/ETH token, where holders will have more governance rights and protocol fee revenues. Here is the related Medium link for details: medium.com/@H2Odata/h2o-roadmap-v3-bf1ada2e4d81

6️⃣ Conclusion: $H2O will be backed by more data assets, and with more usage of these data protocols, exposure to $H2O will increase. While the capitalization of dataFi grows, $H2O might become a reserve asset of the ecosystem.

As H2O reaches a higher adoption rate, protocol revenues will increase, as well as the revenues that are going to be distributed to $vIPSND holders.

$PSDN might be a great play for exposure to $FIL ecosystem and LSD narrative for the short term, and an undeniable revenue machine for DataFi for the long term.

Great minds - $PSDN , $H2O ; a decentralize stable asset @SmallCapScience @rektdiomedes @thedefiedge @crypto_linn @TheDeFinvestor @CryptoShiro_ @DAdvisoor @Slappjakke @crypthoem @jake_pahor @LouisCrypto @thelearningpill @DeFi_Taha @DegenCamp @DeFiMinty @arndxt_xo

Cont. - $PSDN , $H2O ; a decentralize stable asset @Only1temmy @kindahangry @BillyBobBaghold @matrixthesun @PastryEth @officialbitbyte @Louround_ @CJCJCJCJ_ @TheDeFISaint @2lambro @defi_mochi @corleonescrypto