Poseidon PSDN Price

What is Poseidon (PSDN)?

Poseidon Network is a decentralized platform that offers edge solutions aimed at creating a global P2P infrastructure. This includes services like decentralized content delivery networks (CDN), storage, and computing. The platform allows users to share unused resources such as bandwidth and storage from their devices, including NAS, computers, and mobile devices. In return, users earn rewards for providing these idle resources, which are then redistributed to others in need.

What is the Role of Poseidon (PSDN) Token?

The POSEIDON token is the governance token of the H2O protocol. It plays two main roles within the system:

1. Backstop Mechanism: POSEIDON stakers act as the first line of defense if the H2O protocol faces issues, such as going underwater. The second line of defense is debt auctions, where new POSEIDON tokens are minted and auctioned in exchange for H2O tokens.
2. Ungovernance: Once the governance process is minimized, POSEIDON holders can remove control over certain components of the H2O protocol or continue managing those parts that might be difficult to ungovern, like oracles or other systems interacting with other protocols.

What is H2O?

H2O is a non-pegged stable asset designed for the Web3 Data Economy. Initially backed by the OCEAN token, H2O will also be backed by other next-gen data tokens starting in Q3. It serves as a medium of exchange and a unit of account in data marketplaces. The POSEIDON token governs the H2O protocol, helping to set its parameters, kickstart ecosystem development, and incentivize liquidity.

In summary, Poseidon (PSDN) plays a crucial role in both securing the H2O protocol and governing its future, while also supporting the growth of a decentralized data economy.

What is unique about Poseidon (PSDN)?

Poseidon (PSDN) is unique for its decentralized P2P infrastructure that allows users to share unused resources, such as bandwidth and storage, in exchange for rewards. Its integration with the H2O protocol provides a non-pegged stable asset for the Web3 Data Economy, offering a novel approach to data marketplaces.

Who are the founders of Poseidon (PSDN)?

The founders of Poseidon (PSDN) are not disclosed publicly.