Calcium Peroxide enhances oxygen availability in the water. Increased oxygen availability is an extremely important factor in aqua culture as oxygen is a key ingredient that impacts growth and weight of prawn / fish and consequently the yield per acre.
I think all oxidant do it, if I right. As I remember, potassium permanganate do, as well. It is a strong oxidant agent. However, you should note that these strong oxidants have side effect on pond as well. They oxidize all organic matter with variety of degree.
To maintain oxygen in pond,pl dont go for chemicals.firstly know your demand of oxygen for fish you are rearing.For exame indian and chinese carps below 800 m asl need 5_6 mg/l. Optimum stocing density,low dose of balance diet with high freqencyof feeding in day and reducing microbial load by applying lime @ 300-400kg/ha+ kmno4@2ppm on every 10 day will maintain required oxygen moreover,add water in pond occasionally.. dont vo 4 chdmical as thsy r harmful to soil and fish health as sell to cosumer.
I endorse the views of tyagi. Oxygen level in pond will be managed by better husbandry. Assess level of oxygen production and consumption. If demand more then try to reduce it with lime by settling organic matter. If the system is small the chemical treatment and air bubbling will do. But larger system chemical treatment is costly. So normally aeration is recommended in ponds.
In emergency cases can go for calcium peroxide tablets and the shops can ask for oxygen tablets. Pumping of water or recirculating the same water using pumps or disturbing the water can solve the problem also.
You can use addition of diluted Hydrogen Peroxide. It is easily available and does not increase the hardness or TDS of water. I have used it as SOS and have found good use.
I agree with Mr Tyagi (not to use chemicals). I recommend to aerate the water by creating simple water fountains, which will increase dissolved oxygen and the aesthetics.
@Instead of thinking of applying chemical, it is better to remove oxygen demanding parameters like heavy organic load in the bottom. Better find exact feeding and avoid overfeeding. Remove bottom sludge and apply lime positively CaO. Healthy bloom address most of the DO related issues. Bacterial load must be curtailed by proper management.