H2OdataH2O Fundamentals: Governance and Tokenomics
What is H2O?Although some of this information was mentioned in previous posts, we want to reiterate the critical points about H2O.H2O is a stable asset for decentralized data marketplaces.H2O is a friendly fork of Reflexer’s stableasset, RAI.Initially, the Ocean token will back H2O, but other next-generation data tokens will back H2O later this year.H2O will act as a medium of exchange and unit of account.H2O removes the pricing variability in decentralized data marketplacesTo summarize, H2O ...
H2OdataH2O, the first non-pegged stable asset for the Web3 Data Economy, is here
The time has come.After eight busy months of hard work, the H2O team is thrilled to announce the launch of H2O, an important milestone for the entire Web3 Data Economy. H2O is a non-pegged and decentralized stable asset backed by OCEAN. H2O is now live on Ethereum mainnet. Across all industries, the transformational power of data is impossible to ignore. McKinsey reports that data “can help unlock $3 trillion to $5 trillion in economic value.” The Economist writes that “The world’s most valua...
H2OdataH2O Fundamentals: Governance and Tokenomics
What is H2O?H2O is a stable asset for decentralized data marketplaces.H2O is a friendly fork of Reflexer’s stable asset, RAI.Initially, the OCEAN token will back H2O, but other next-generation data tokens will back H2O later this year.H2O will act as a medium of exchange and unit of account.H2O removes the pricing variability in decentralized data marketplaces To summarize, H2O will help solve multiple issues in decentralized data marketplaces, such as capital efficiency, stability in transac...
The new wave of a data backed stable asset
H2OdataH2O Fundamentals: Governance and Tokenomics
What is H2O?Although some of this information was mentioned in previous posts, we want to reiterate the critical points about H2O.H2O is a stable asset for decentralized data marketplaces.H2O is a friendly fork of Reflexer’s stableasset, RAI.Initially, the Ocean token will back H2O, but other next-generation data tokens will back H2O later this year.H2O will act as a medium of exchange and unit of account.H2O removes the pricing variability in decentralized data marketplacesTo summarize, H2O ...
H2OdataH2O, the first non-pegged stable asset for the Web3 Data Economy, is here
The time has come.After eight busy months of hard work, the H2O team is thrilled to announce the launch of H2O, an important milestone for the entire Web3 Data Economy. H2O is a non-pegged and decentralized stable asset backed by OCEAN. H2O is now live on Ethereum mainnet. Across all industries, the transformational power of data is impossible to ignore. McKinsey reports that data “can help unlock $3 trillion to $5 trillion in economic value.” The Economist writes that “The world’s most valua...
H2OdataH2O Fundamentals: Governance and Tokenomics
What is H2O?H2O is a stable asset for decentralized data marketplaces.H2O is a friendly fork of Reflexer’s stable asset, RAI.Initially, the OCEAN token will back H2O, but other next-generation data tokens will back H2O later this year.H2O will act as a medium of exchange and unit of account.H2O removes the pricing variability in decentralized data marketplaces To summarize, H2O will help solve multiple issues in decentralized data marketplaces, such as capital efficiency, stability in transac...
The new wave of a data backed stable asset
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“An asset backed by data? Isn’t that just a stablecoin with extra steps?”
Sure, while H2O might resemble some variation of a stablecoin like USDC or DAI, there are some key differences which allow it to fit in with the Ocean Protocol. Let’s take a look at H2O’s composition.
H2O is a fork of RAI, Reflexer’s non-pegged and decentralised stableasset backed by ETH. To clarify, stableassets are not pegged to a particular “currency” rather, they are pegged to some defined number. On the other hand, stablecoins are pegged to a currency (i.e. USDC and DAI). RAI stands out because of its unique structure, as it’s the only stableasset backed by ETH. However, since ETH is such a volatile asset and is subject to unsavoury price action, it doesn’t make for an elite unit of exchange.
RAI helped usher in a world where stableassets are less governance intensive and more of a flexible, self-governing unit of exchange. Stablecoins like USDT and USDC - while reputable - are centralised, the exact opposite ideal for a financial system with decentralisation sitting atop its list of core tenets.
By adopting the principles of RAI (minimised governance and an asset detached from fiat), the H2O token can properly serve as a stable unit of exchange on the Ocean Market - without all the swings that come from the OCEAN token. The price of H2O is based on algorithms that work to maintain an equilibrium between backing and market price, similar to how RAI functions. H2O is not pegged to anything, but it delays most of the volatility present in the underlying capital. In short, right now H2O is an Ocean backed, non-pegged stableasset whose monetary policy is managed by an on-chain, autonomous controller. In Q3 2022, H2O will transition to being data-backed, not just Ocean backed.
How can you get your hands on some H2O? We’re glad you asked.
Users can deposit OCEAN into SAFEs (similar to vaults) and can then mint H2O as collateral. These tokens then flow back into the Ocean Market for users to transact more efficiently. By Q3, H2O will be data backed, meaning less volatility and representative of a concrete relation between Ocean Protocol and H2O.
Our launch date is fast approaching, so if you want to stay up to date with everything H2O related, follow our social accounts.
“An asset backed by data? Isn’t that just a stablecoin with extra steps?”
Sure, while H2O might resemble some variation of a stablecoin like USDC or DAI, there are some key differences which allow it to fit in with the Ocean Protocol. Let’s take a look at H2O’s composition.
H2O is a fork of RAI, Reflexer’s non-pegged and decentralised stableasset backed by ETH. To clarify, stableassets are not pegged to a particular “currency” rather, they are pegged to some defined number. On the other hand, stablecoins are pegged to a currency (i.e. USDC and DAI). RAI stands out because of its unique structure, as it’s the only stableasset backed by ETH. However, since ETH is such a volatile asset and is subject to unsavoury price action, it doesn’t make for an elite unit of exchange.
RAI helped usher in a world where stableassets are less governance intensive and more of a flexible, self-governing unit of exchange. Stablecoins like USDT and USDC - while reputable - are centralised, the exact opposite ideal for a financial system with decentralisation sitting atop its list of core tenets.
By adopting the principles of RAI (minimised governance and an asset detached from fiat), the H2O token can properly serve as a stable unit of exchange on the Ocean Market - without all the swings that come from the OCEAN token. The price of H2O is based on algorithms that work to maintain an equilibrium between backing and market price, similar to how RAI functions. H2O is not pegged to anything, but it delays most of the volatility present in the underlying capital. In short, right now H2O is an Ocean backed, non-pegged stableasset whose monetary policy is managed by an on-chain, autonomous controller. In Q3 2022, H2O will transition to being data-backed, not just Ocean backed.
How can you get your hands on some H2O? We’re glad you asked.
Users can deposit OCEAN into SAFEs (similar to vaults) and can then mint H2O as collateral. These tokens then flow back into the Ocean Market for users to transact more efficiently. By Q3, H2O will be data backed, meaning less volatility and representative of a concrete relation between Ocean Protocol and H2O.
Our launch date is fast approaching, so if you want to stay up to date with everything H2O related, follow our social accounts.
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