oceanprotocol/docs
1
0
Fork 0
mirror of https://github.com/oceanprotocol/docs.git synced 2024-11-26 19:49:26 +01:00
Code Releases Activity

Update ocean-token.md

Browse Source
This commit is contained in:
Wanderclyffex 2024-08-09 03:19:34 +05:30 committed by GitHub
parent 17388523d9
commit 87949f8d35
No known key found for this signature in database
GPG Key ID: B5690EEEBB952194
1 changed files with 7 additions and 44 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

51
discover/ocean-token.md
View File

@ -2,58 +2,21 @@
description: description:
--- ---
# OCEAN: The Ocean Token ## The OCEAN Token
OCEAN is a utility token. It's used to stake on data for curation, buy & sell data, and more. Its supply is disbursed over time to drive near-term growth and long-term sustainability. The Ocean Token (OCEAN) was the utility token powering the Ocean Protocol ecosystem, used for staking, governance, and purchasing data services, enabling secure, transparent, and decentralized data exchange and monetization. For more info, navigate to this [section](https://oceanprotocol.com/about-us/ocean-token/) of our official website.
**Contents:**
- Getting and storing OCEAN
- Staking OCEAN
- OCEAN supply
- Token design
- OCEAN addresses
<div align="center"><figure><img src="../.gitbook/assets/general/purchase-and-compute_and_ocean-network.png" width="60%"></figure></div> <div align="center"><figure><img src="../.gitbook/assets/general/purchase-and-compute_and_ocean-network.png" width="60%"></figure></div>
# The ASI Token
## Getting and Storing OCEAN In Late March, Ocean Protocol joined forces with Singularity NET & Fetch.ai to form the superintelligence alliance & announced a token merger Combining OCEAN, FET & AGIX into a single "ASI". The main vision behind the alliance is to give people the freedom of choice to own and control their data and AI, & respect each person’s autonomy and sovereignty in the upcoming AI economy.
OCEAN is available on most leading CEXes and DEXes. The [Ocean Token page at oceanprotocol.com](https://oceanprotocol.com/about-us/ocean-token) has details. Starting with FET as the base token of the Alliance, the FET token will be renamed ASI, and an additional 1.48 Billion tokens will be minted, with 867 million ASI allocated to AGIX holders and 611 million ASI allocated to OCEAN token holders. The total supply of ASI tokens will be 2.63 Billion tokens.
The [Wallets User Guide](../user-guides/wallets/README.md) here in Ocean docs shows how to set up wallets and store OCEAN. If you are holding OCEAN tokens on the Ethereum network, then you can participate in the Phase 1 migration to FET [here](https://singularitydao.ai/migrate-asi)
## Staking OCEAN For more info, navigate to this [page](https://oceanprotocol.com/about-us/ocean-token/) on our official website.
You can lock OCEAN and earn rewards via [Ocean Data Farming](../data-farming/README.md).
## OCEAN supply
Total # tokens: 1.41B. All tokens are minted; all control is [revoked](https://blog.oceanprotocol.com/control-over-the-ocean-contract-to-be-revoked-soon-overview-6c5b15be2db).
OCEAN supply is divided as follows:
- 51% (719.1M OCEAN) - to Data Farming and incentives programs. Distributed via vesting: burn-in period then 4-year half-life. For [Data Farming: Reward Schedule](../data-farming/reward-schedule.md) docs.
- 15% (211.5M OCEAN) - to Ocean community (grants, more) and foundation operations.
- 10% (141.0M OCEAN) - to the founding company, and in turn to its investors, employees & operations
- 24% (338.4M OCEAN) - to token acquirors. This completed in early 2019. All acquiror vesting is complete as well.
## OCEAN Token Design
The system-level design of the OCEAN token is based on [The Web3 Sustainability Loop](https://blog.oceanprotocol.com/the-web3-sustainability-loop-b2a4097a36e), a general design pattern. The Ocean-specific version of this design is described in [section (7) of that same article](https://blog.oceanprotocol.com/the-web3-sustainability-loop-b2a4097a36e#e0f6).
This design gives flexibility to adapt the Ocean products for traction and growth. The flexibility is due to the goal to "drive network revenue", subject to the constraints of the mission & values of Ocean Protocol.
In the design, a % of revenue is used to buy back & burn OCEAN. The remaining % drives growth.
<div align="center"><figure><img src="../.gitbook/assets/general/whirlpool.png" width="60%"></figure></div>
## OCEAN on Networks
The "root" OCEAN token is deployed on Ethereum mainnet with address [`0x967da4048cd07ab37855c090aaf366e4ce1b9f48`](https://etherscan.io/token/0x967da4048cd07ab37855c090aaf366e4ce1b9f48).
The OCEAN token has bridges to several other chains. The [Networks docs](networks/README.md) give the address of OCEAN on each network, and how to get OCEAN on each of those networks.
----
_Next: [Networks](networks/README.md)_ _Next: [Networks](networks/README.md)_