NEW | The team at Ocean is thrilled to announce

Question

NEW | The team at Ocean is thrilled to announce

that @neworderDAO and @reflexerfinance will launch H2O, an $OCEAN backed, non-pegged stable asset!🗿🌊

H2O is based on the RAI stable asset by Reflexer Labs. Like RAI, it is decentralized, permissionless, and minimizes governance. RAI uses ETH as its asset for collateral, H2O uses OCEAN.

The price of H2O is managed by an algorithm that rebalances to bring the redemption price close to the market price and participants are incentivized to aid in this process.

Traditional stable assets are pegged to a price such as 1 USD. In contrast, RAI (and soon H2O) are free-floating but typically settle around a price; for RAI this has been ~$3.

New Order DAO is driving the H2O initiative. They are a community-driven venture DAO incubator for decentralized finance (DeFi) projects. H2O will be available on New Order’s DeFi marketplace with strong benefits for the Ocean ecosystem, especially Ocean Market.

https://twitter.com/oceanprotocol/status/1465671666797670405?s=20

#cryptocurrency #english #ocean

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01.12.2021

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Dylan · Accepted Answer

Dylan

Do you know what the algorithm is?

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01.12.2021

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NEW | The team at Ocean is thrilled to announce

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