Add $OCEAN (Ocean Protocol) as a collateral asset to CREAM Market

Summary

Hello everyone, I am very excited to propose OCEAN listing on CREAM finance platform. Ocean Protocol is a decentralised data exchange protocol which enables data providers to monetise their private data using compute-to-data technology. Ocean Protocol’s datatokens act as on-ramp and off-ramp for data assets into DeFi. Ocean Market integrates Balancer AMMs for swaps, and LPing directly on data assets (Ocean datatokens)

I see this collaboration as a really good fit for both OCEAN and CREAM communities. Here’s why -

About $OCEAN

OCEAN, the native token of the Ocean Protocol is already a well traded token with average daily trading volume in excess of $115 mn and tradable on many major CEX like Binance, Poloniex, Gateio, Bittrex, and Kucoin. But more importantly, it has very sizable liquidity and available on Defi platforms like Uniswap, SushiSwap, Balancer, Bancor, Dharma and Kyber. We will be collaborating with more partners in Defi space.

With our recent Ocean v3 launch, we have moved firmly into the DeFi space and a natural progression is to create an OCEAN lending market. We can’t think of a better place to do this than with the CREAM community. Being able to borrow and lend OCEAN would enable holders to collateralize their OCEAN.

Ocean Protocol Foundation is ready commit to providing initial liquidity of about 625k OCEAN tokens (approx. $500,000 USD), along with contributions from our strong community of OCEAN holders. This initial lending by Ocean Protocol Foundation will also provide legitimacy to the lending pool and attract other community members to lend/borrow OCEAN.

Some Stats about Ocean Protocol

  • $320M marketcap (source - coingecko)
  • Top 100 project in CMC and Coingecko by Market Cap
  • 42k+ twitter followers and 11k+ telegram community
  • OCEAN token has $115 million daily traded volume (source - coingecko)
  • TVL on Ocean Market is approx $882,935 USD equivalent in OCEAN tokens and $486MM USD equivalent in OCEAN + datatokens combined
  • Launching $OceanO stablecoin backed by $OCEAN token in 3-4 weeks (via OpenDAO and UMA protocol)
  • In Bancor, OCEAN/BNT pool has about $13MM USD in liquidity and is one of the top 10 pools
  • In Uniswap, OCEAN/ETH pool has about $3.6MM USD in liquidity and more than $1.5 MM USD in daily volume
  • Ocean Token page in coingecko has > 25k likes
  • As per etherscan, there are > 25k OCEAN token holders

The Future: Collateralizing Data Assets with CREAM <> Ocean Protocol

Besides developing an OCEAN lending market, there are other more interesting initiatives that we’re excited to develop with the CREAM community. As of today, Ocean Protocol has over $850k TVL in our datatoken pools.

Our datatokens are ERC20 tokens and each of them are underlying assets of their own data market. We see a vivid future where each of these datatokens can have their own lending market on CREAM. This will be groundbreaking for both Ocean and CREAM and help CREAM become the first lending protocol that collateralized real world data with efficiency and scale.

Other collaborations that might be interesting for the Cream community is to source curated data from Ocean Protocol marketplaces to be able optimise the lending rates and possibly provide under-collateralized loans. CREAM community may also choose to monetise the data Cream platform generates to fund the platform and to incentivize users using the platform.

There are multiple collaborations that both Ocean and Cream communities can work out. I hope the CREAM community sees OCEAN as a good fit and potential long term collaboration partner.

Proposal

I would appreciate it if someone would make a proposal to list $OCEAN on the CREAM platform.

For:

List OCEAN as collateral

Against:

Do nothing

25 Likes

Ocean Protocol homepage - https://oceanprotocol.com/
Ocean Protocol discord - https://discord.gg/TnXjkR5

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We are working with Daimler (Mercedes car maker) for helping them on their data supply orchestration
https://www.coindesk.com/mercedes-maker-daimler-tests-blockchain-for-supply-chain-data-sharing

We also collaborated with Roche (a swiss based leading healthcare provider) to improve care for heart disease patients through safe and secure data sharing https://blog.oceanprotocol.com/roche-diagnostics-and-ocean-protocol-partner-to-improve-care-for-heart-disease-patients-through-71cf3e678dc

8 Likes

This is a great opportunity for Cream. Listing OCEAN is just the beginning. Afterwards we can add datatokens which represent the ability to use and access data, and OceanO a stable coin backed by these datatokens. Curation is a big part of Ocean marketplace and being able to short/leverage datasets will be a great tool and drive lending of OCEAN and datatokens tokens.

At current prices, this OCEAN based economy is nearly $1B that can be added to the Cream market.

10 Likes

Ocean will bring a lot of extra liquidity and exposure to Cream like it did on the other platforms.

3 Likes

Exactly. There are many new possibilities of collaboration in future via $OCEANO stablecoin and datatokens. And our community have been asking for market to lend/borrow OCEAN so I anticipate very active participation by OCEAN community once it is listed here.

4 Likes

I can sign all of the statements above. The Ocean community is strong and the power of the project itself is on another level. Seeing an integration from OCEAN x C.R.E.A.M. sounds like a win win situation

5 Likes

I am a holder of both CREAM and OCEAN. And I support this. I had to sign up to this forum because its very much worth it. If this proposal passes, I will be able to lend my $$ OCEAN holding on Cream platform and earn yummy CREAM (but I guess mining will not be activated yet or will it?). In any case, this is a strong project and I see multiple points of collaboration starting with OCEAN token.

6 Likes

Ocean is a strong project and has strong community. Ocean has been very active in DeFi space in recent times and have strong ethos about community and decentralisation as CREAM. Its not mentioned here but they also have Ocean DAO for community voting on proposals and projects to get funded to build Ocean ecosystem dapps. I am very excited and looking forward to this. :smiley:

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We are working on a project that is based on top of Ocean Protocol - https://dataunion.app
It is an example of the upcoming ownership economy where the participants/contributors are also shareholders of the project/platform.
The project aims to enable everyone on this planet to earn datatokens by uploading, annotating, and verifying image data. Customers can then train machine learning algorithms on top of this dataset without giving up the IP of the data via Ocean’s compute-to-data technology.
This will attract a lot of people to earn crypto as well as a lot of companies that want to use an end-to-end platform to create algorithms for computer vision tasks.
All the transactions will go through a liquidity pool that connects our datatokens to Ocean tokens.
Having $OCEAN on C.R.E.A.M. will enable our customers to finance their algorithms or data via loans. This will help us with the adoption of our product on top of Ocean Protocol.
We think that we are just one of many startups that will be built on top of Ocean’s unique economic creation mechanism.

4 Likes

One of my favorite crypto projects, that i intend to hold for a long time. Better get some rewards whilst doing so!

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this is great plan lets vote

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Ocean Protocol has proved that data is a new asset class. Through Ocean Protocol the world can regain its data sovereignty and work together towards quicker developments and innovations in every industry. For example, right now there are likely hundreds of individual studies going on right now for Parkinson’s Disease. Imagine if all of these research groups were incentivized to sell their data to one another. Medical breakthroughs would occur much quicker. Ocean Protocol is truly one of a kinda and would be a great addition to CREAM.

1 Like

Ocean is a strong project and has strong community. Seeing an integration from OCEAN and CREAM, will also bring a lot of extra liquidity and exposure to Cream like it did on the other platforms.

1 Like

The voting will start soon

1 Like