April 19, 2022 – Toronto, Canada
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 Web 3.0 data economy.
Round details
In total, H2O raised $1,250,000 for five percent 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 six-month cliff (with 10% unlocked at maturity), and the rest will vest linearly over a two-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 Web 3.0 data ecosystem.
The round was led by Ocean Protocol co-founders Trent McConaghy and Bruce Pon 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.
Coming up next
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 27, 2022. 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 Web 3.0 data economy.
H2O coincides with the rollout of H2O to synergize with the launch of Ocean market version four.
In addition, H2O is excited about the opportunity for H2O to become the native stable asset of the Web 3.0 data economy. H2O shares Ocean Protocol’s vision of a trillion-dollar decentralized data economy and is 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 five years, I’ve been absolutely fascinated by blockchain technology and dreaming about a more important role for data within Web 3.0. This is why I decided to make H2O my full-time commitment, and [experiencing] the excitement of our partners and strategic investors around our vision energizes 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.
About H2O
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.
Contact
Bruno Ahualli, managing partner of Kilonova Ventures
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