EPNS and H2O, the stable asset that allows users to transact in Ocean’s decentralized marketplace, team up in a pilot collaboration to enable communication between the users and the platform. Users of H20 are now poised to receive updates whenever their loans approach liquidation.
A Stable Asset for the Data Market
Launched in March 2022, H2O is a non-pegged stable asset backed by Ocean Protocol’s $OCEAN token. Ocean Protocol is a decentralized data exchange platform that allows users to exchange valuable data in a safe and secure environment while maintaining privacy and control. The platform has two unique crypto primitives, on-ramp data and off-ramp data that allow users to tokenize their data.
They can then trade or exchange the data with companies and protocols of their choice. Ocean Protocol powers data markets that can act as bridges between DeFi protocols and data owners, facilitating the selling, buying, and even staking of data. In this regard, H2O is an asset that allows users to easily transact in these data markets, circumventing the volatility of the $OCEAN token. It serves as a stable unit of exchange. Users can simply deposit $OCEAN tokens and borrow H2O tokens for these transactions.
As such, there is a need for a robust communication mechanism that informs users when the price of $OCEAN falls below a certain threshold and their loan approaches liquidation. At EPNS, we aim to build this communication mechanism.
What Does the Collaboration Entail
As a result of our pilot collaboration with the platform, H2O will have an official channel on the EPNS platform. Users who choose to subscribe to this channel, are directly connected for seamless communication with the platform. They can expect to receive notifications whenever their loans approach liquidation. This allows users to take appropriate action on time, protecting their assets from liquidation.
With a chrome extension, a dApp, and a mobile application, EPNS ensures that notifications are delivered to all devices and are not missed. As H2O and Ocean Protocol continue to revolutionize the DeFi industry, we are pleased to collaborate with them to ensure the smooth running of their processes. We are hopeful that EPNS push notifications will become an integral part of the H2O platform.
About H2O H2O is a stable asset that allows users to transact freely in Ocean’s decentralized data marketplace, removing the variability of OCEAN’s pricing. Initially, OCEAN itself will back H2O; but the asset is poised to become data-backed later this year.
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