H2O is the first non-pegged stable asset for the Web3 Data Economy. Initially, it is backed by the OCEAN token but in Q3 it will also be backed by other next-generation data tokens. H2O serves as a medium of exchange and unit of account in data marketplaces. The governing token of the protocol is POSEIDON, which will be used to govern the initial parameters of the protocol, bootstrap ecosystem development, and incentivize the liquidity of the protocol. We see H2O becoming the dominant medium of exchange and unit of account for data tokens, and positioning itself as an integral part of decentralized data economies.
This documentation is meant to explain all the components behind H2O.