May play a role in the protection of oocyte incorporated cells from rapid apoptotic degradation. H2O2 + L-ascorbate = 2 H2O + L-dehydroascorbate Binds 1 heme b (iron(II)-protoporphyrin IX) group per subunit. Expressed exclusively during oogenesis. The gene for this protein may have been transferred horizontally following an endosymbiotic event early in evolution of the Hydra lineage as an RNA or cDNA intermediate. Belongs to the peroxidase family.