Thread by @H2O_data

Congratulation @oceanprotocol for the successful launch of #veOCEAN! 👏👏

So, what’s next? 👀

The launch of veOCEAN is a much-awaited event for the H2O community.

1/12 🧵

https://twitter.com/oceanprotocol/status/1574368370577018881

@oceanprotocol Our roadmap v2 outlines the big changes coming to the protocol, starting with psdnOCEAN.

Let’s answer some common questions for a better understanding of what’s ahead H2O. 👇

2/12 🧵

@oceanprotocol 💥 What is psdnOCEAN?

psdnOCEAN will be the liquid staking wrapper for veOCEAN. It will allow holders to lock their OCEAN via psdnOCEAN contract and benefit from it in several ways. 💸💰

3/12 🧵

Liquid staking wrappers are not new in #DeFi, in fact, @ConvexFinance is a good example.This protocol allows Curve (CRV) to be locked using the wrapper contract instead of the base contract, providing users liquid staking tokens that represent the locked base tokens.

4/12 🧵

With @ConvexFinance, users receive cvxCRV when they lock their CRV.

H2O is taking a similar approach, with psdnOCEAN as the liquid staking tokens when users lock OCEAN.

5/12 🧵

For OCEAN holders, this is a massive opportunity to hold a transferable token with liquidity as ve tokens are non-transferable.

6/12 🧵

💥 So, what’s in it for psdnOCEAN stakers?

On top of transferability and liquidity of psdnOCEAN, stakers also gain access to a share of the revenue of the veOCEAN locked by psdnOcean and revenue generated through allocation of veOCEAN in #DataFarming.

7/12 🧵

For more info about veOCEAN in Data Farming, check @oceanprotocol’s documentation here:

8/12 🧵

blog.oceanprotocol.com/veocean-is-lau…

Second, psdnOCEAN holders can mint H2O with psdnOCEAN. This time, only psdnOCEAN will serve as H2O’s collateral. More types of collateral will be added in the coming months as part of the protocol’s new roadmap.

9/12 🧵

Additionally, PSDN holders can vote-lock their tokens (vlPSDN) to vote on how veOCEAN locked through psdnOCEAN is allocated within Data Farming, which includes the option to delegate voting power.

10/12 🧵

This feature provides PSDN holders the ability to directly influence how the protocol earns revenue from the marketplace.

11/12 🧵

Wen psdnOCEAN? 👀

Very soon. 😉 More details will follow this week.

To learn more about H2O’s new roadmap, access it here👇Don’t miss the big waves 🌊🌊

12/12 🧵

medium.com/h2o-data/towar…