Hello Aave family,
I’m Bruce Pon, co-founder of Ocean Protocol. I’d like to make a proposal for Aave to support OCEAN as a collateral asset. We think being able to lend and borrow OCEAN on Aave would open up several exciting opportunities for both Ocean and Aave.
OCEAN, the native token of the Ocean Protocol is already a well traded token with average daily trading volume in excess of $20m and tradable on many major CEX like Binance, Poloniex, Gateio, Bittrex, and Kucoin. But more importantly, it has very sizable liquidity on Defi platforms like Uniswap, Balancer, Ban 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 Aave community. Being able to borrow and lend OCEAN would enable holders to collateralize their OCEAN.
To seed this OCEAN lending market on Aave, the Ocean Protocol Foundation is ready to commit to 1 Million OCEAN tokens (approx. $400,000 USD), along with contributions from our strong community of OCEAN hodlers.
The Future: Collateralizing Data Assets with Aave <> Ocean
Besides developing an OCEAN lending market, there are other more interesting initiatives that we’re excited to develop with the Aave community. As of today, Ocean Protocol has over $1 million 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 Aave. This will be groundbreaking for both Ocean and Aave because Aave will be the first lending protocol that collateralizes real world data with efficiency and scale.
Other collaborations that might be interesting for the Aave community is to source curated data from Ocean Protocol marketplaces to be able optimise the lending rates and possibly provide under-collateralized loans. Aave community may also choose to monetise the data Aave platform generates to fund the platform and to incentivize users using the platform.
There are multiple collaborations that both Ocean and Aave communities can work out. Extremely excited to build such a future together.