Ocean Protocol, the decentralized data exchange protocol that unlocks data for AI, is excited to announce the launch of DataX Protocol, a project financed through OceanDAO, Ocean’s community-curated grants program.
DataX Protocol has an ambitious lineup of innovative DeFi tooling for datasets in the roadmap. Its goal is to build DataFi infrastructure to help onboard masses to the data economy and also boost Ocean Protocol’s footprint by building innovative tooling around datatokens.
DataX Protocol is building an open and decentralized financial layer on datasets. It aims to create complementary infrastructure around Ocean Protocol’s datatokens that will boost new integrations into the Ocean ecosystem. The DataX Protocol at the onset will enable any developer or dapp to use its libraries and tooling to build and create multi-token trading and staking infrastructure.
DataX tooling promises to increase metrics in the Ocean ecosystem like number of dapps being built, daily active users, total value locked, and trading volume of datasets.
Ultimately, DataX Protocol aims to make data liquid and a dominant asset class.
To further the adoption of the data economy, DataX Protocol is launching the concept of Data Nation — a template for the states and countries who treat their data as an important asset and engage in creating a data economy for their citizens.
To implement this template and to make the prospect of staking and investing in datatokens for the masses interesting, DataX is also building a white-label platform named Datapolis. Datapolis is a virtual sovereign city state that prides itself as the world’s first Data Nation. It is also a showcase of DataX features.
Datapolis shows how an ideal real-world scenario could be for sharing data, trading datasets, or earning from data. Datapolis is built around the core principles of decentralization and democracy where citizens have a say via voting, economic activities like trading and staking, or help grow the DataX Community and earn incentives.
Trent McConaghy, Founder, Ocean Protocol, commented:
Manan Patel, Founder, DataX Protocol added:
The Datapolis platform will be launched in February 2022, with trading and staking datasets. In the long run, Datapolis will add more features to the roost, like data farming, data insurances, data loans.