Place/Date: Toronto, Canada - April 20th, 2022 at 1:10 pm UTC · 3 min read
Contact: Bruno Ahualli, Managing Partner, Source: Kilonova Ventures
H2O is thrilled to announce the completion of its strategic funding round. The project is capitalized, well equipped, and has strategic investors onboard, aligned with H2O’s vision of enabling $H2O to become the preferred Medium of Exchange and Unit of Account for the emerging Web3 data economy.
In total, H2O raised $1,250,000 for 5% of its token supply of $PSDN governance tokens, from a number of notable angel investors, VCs, and DAOs. In harmony with the project’s sensible tokenomics, Investor tokens will be subject to a 6-month cliff (with 10% unlocked at maturity) and the rest will vest linearly over a 2-year period.
Each of the invested parties will support H2O on its path to becoming the dominant stable asset in Ocean Protocol’s Data Marketplace and the blossoming Web3 Data ecosystem.
The round was led by Trent McConaghy & Bruce Pon (Ocean Protocol Co-Founders), and Ocean Protocol Foundation. Other notable investors include but are not limited to, Big Brain Capital, Next Web Capital, 0xVentures, Gains Associates, HG Ventures, and Small Cap Scientist.
TGE +Targeted $PSDN airdrops and LP incentives: More information will be disclosed in the coming days, but H2O is pleased to confirm the launch of the H2O Protocol on April 27th. There’s something special planned for Ocean Protocol, New Order DAO, and Reflexer community members and at launch, $OCEAN holders will be able to deposit their tokens to mint $H2O. In the near future, H2O will also use Ocean data tokens as collateral for its data-backed $H2O, a first in the nascent Web3 Data Economy.
H2O coincides with the rollout of $H2O to synergize with the launch of Ocean Market V4.
In addition, H2O is excited about the opportunity for $H2O to become the native stable asset of the Web3 data economy- H20 share Ocean Protocol’s vision of a trillion-dollar decentralized data economy and are positioned to become an important primitive in the ecosystem.
Okarin, Business Lead at H2O, shared his enthusiasm about the strategic round and the next steps on H2O’s journey:
“For the past 5 years, I’ve been absolutely fascinated by blockchain technology and dreaming about a more important role for Data within Web3. This is why I decided to make H2O my full-time commitment and experience the excitement of our partners and strategic investors around our vision energize me and the entire team.”
H2O wants to thank the community and is looking forward to announcing our next milestones, which are just around the corner.
H2O is a data-backed stable asset with a managed float regime that serves as a medium of exchange and unit of account in decentralized data marketplaces.
Anyone can join our growing community of builders and users committed to decentralized data economies in DeFi. For more information please join our community channels.