H2O Data Secures Strategic Round for Its Data-backed Stable Asset Ahead of TGE and Targeted Community Airdrop

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Toronto, Canada, 19th April, 2022, ChainwireH2O 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