Ocean Protocol Joins Open DeFi Alliance Connecting Members With New Sources of Liquidity in Data Tokens

Ocean Protocol, a pioneer in building a new, equitable data economy joins Open DeFi to bring an innovative perspective to the alliance through viewing data and data access as new forms of liquidity. Open DeFi was founded on bridging three core ideas — risk management, liquidity, and innovation — across borders, cultures, and markets. The addition of Ocean Protocol to Open DeFi connects existing members with new sources of liquidity in data tokens.

“Ocean Protocol is the leader in a new decentralized data economy, “ Eden Dhaliwal, Global Managing Director at Conflux Network says. “As a central part of Open DeFi, they bring valuable contributions to Open DeFi’s innovation and liquidity strategy through creating access to an untapped form of liquidity in data.”

Founded in 2017 by Trent McConaghy and Bruce Pon, Ocean Protocol connects data providers and consumers, using blockchain technology. Their technology allows private data to be shared and monetized, without compromising control or security for the data owner, while ensuring traceability, transparency, and trust for all stakeholders involved.

“We’re excited to join this alliance of first class DeFi organizations, McConaghy says.. “Ocean brings data as a new, multi-billion dollar asset class to the DeFi ecosystem. Ocean’s ERC20 datatokens wrap access to data, to reuse crypto wallets as data wallets, DEXes as data exchanges, data DAOs, and more. We look forward to working more closely with industry leaders to grow the DeFi ecosystem and bring more opportunity to more people.”

As the DeFi space continues to evolve, there is a constant search for new forms of liquidity to grow the value of protocols and applications. Ocean Protocol taps into the valuable commodity of data and tokenizes it’s access using blockchain technology — thus creating new liquidity. As a part of Open DeFi, Ocean Protocol is connected with a global network of DeFi applications searching for liquidity, and DeFi applications are connected to a new form of liquidity with incredible growth potential.

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