OceanONDA V4 Goes Live With NFT Data, Rug Pull Solutions and Better Community Monetization

[PRESS RELEASE – Please Read Disclaimer]

OceanONDA V4 is deployed on Ethereum Mainnet, Polygon, Binance Smart Chain, Moonriver, and Energy Web Chain.

Singapore, June 9, 2022: Ocean Protocol, the open-source, decentralized data exchange protocol to unlock data for AI, announces the launch of OceanONDA V4. OceanONDA introduces three key new features: data NFTs for more flexible data IP management, one-sided staking to solve rug pulls, and better community monetization.

Bruce Pon, Ocean founder, said:

“The OceanONDA V4 release is the most important milestone to date to fulfill our vision: Ocean Protocol as the orchestration layer for data services and AI, as the general-purpose data sharing and monetization infrastructure that brings data providers and data consumers together.’’

Data NFTs

Ocean V4 adds ERC721 data NFTs to add maximize flexibility in data IP management. Data NFTs provide interoperability & composability within the wider NFT, DeFi, and DAO ecosystems and many uses beyond the “base IP” use case, including comments & ratings, verifiable claims, identity credentials, user profile data, and social media posts.

Aiming to Solve Rug Pulls

OceanONDA V4 solves rug pulls through one-sided staking: when OCEAN is staked in a pool, datatokens are minted while keeping price stable; when OCEAN is unstaked, datatokens are burned. This in turn increases staking safety while also eliminating price slippage.

Better Community Monetization

OceanONDA V4 smart contracts enable marketplace operators to collect a fee not only in consume, but also in pool-based swap. Furthermore, OceanONDA V4 enables third-party Providers to provide compute, for a fee. This enables a marketplace of Providers to emerge.

Ocean Market Updates

OceanONDA V4 introduces updates to the Ocean Market, including an easier-to-use publishing flow, one-sided staking in pools, updates to the asset detail page, and an NFT image generator.

The customisable fees for marketplace operators to collect commissions on usage and on fixed-rate exchange and pool-based swap open up for new business models within the ecosystem.

For more information visit https://oceanprotocol.com/

About Ocean Protocol

Ocean Protocol is a decentralized data exchange platform spearheading the movement to unlock a new Data Economy, break down data silos, and open access to quality data. Ocean’s intuitive marketplace technology allows data to be published, discovered, and consumed in a secure, privacy-preserving manner. By giving power back to data owners, Ocean resolves the tradeoff between using private data and its public exposure.