a simplistic approach to simulating large areas filled with water in 2d, coupled with a multiphyscis solver for splashes and stuff... this was developed at UFSC to contribute to a stundent short that had some simple character/water interactions. it is called migué flow internaly, due to its hacky nature. (pt.wikipedia.org/wiki/Migu%C3%A9)
although simple it supports some nice stuff like volume preservation and 2-way coupling (splashes generate ripples, that generates slashes, that generate ripples, that...)

available at si-communities resource dump:

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