🔱psdnOCEAN: veOCEAN Liquid Staking

Overview

psdnOCEAN is the liquid staking wrapper for veOCEAN.

• Convert OCEAN to psdnOCEAN with a 1:1 ratio.

• Gain access to a liquid asset and receive a share of the revenue of veOCEAN.

Note:

• Converting OCEAN to psdnOCEAN is irreversible. You may stake and unstake psdnOCEAN tokens but not convert them back to OCEAN. However, secondary markets exist to allow the exchange of psdnOCEAN for OCEAN at varying market rates.

• psdnOCEAN must be staked to receive rewards.

psdnOCEAN Flow

To enjoy the rewards offered by psdnOCEAN, holders can stake their tokens in one of two ways:

Rewards for psdnOCEAN/OCEAN LP staking

• 80% revenue share of locked veOCEAN (4 years) through psdnOCEAN.

• 80% revenue share generated through the allocation of veOCEAN in Data Farming.

• $PSDN Emissions

Rewards for psdnOCEAN single-sided staking

• 15% revenue share of locked veOCEAN (4 years) through psdnOCEAN.

• 15% revenue share generated through the allocation of veOCEAN in Data Farming.

• $PSDN Emissions

In addition, users can also gains exposure to OCEAN rewards through single sided $PSDN staking.

Rewards for PSDN

• 5% of total revenue generated through psdnOCEAN and Data Farming.

• $PSDN emissions

Fee Structure

The protocol is taking a 3% fee on the total amount of collected rewards through veOCEAN and DataFarming in order to cover the costs of running the protocol and the development of future products.

Governance

Via Snapshot, psdnOCEAN stakers can vote directly on the Data asset of their choice or delegate their voting weight to a specific user or the H2O protocol. At the end of every cycle, psdnOCEAN stakers receive a portion of the earned Data Farming rewards. This allows psdnOCEAN stakers to directly influence how the H2O protocol earns revenue.