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
