Updated veocean and rewards images
This commit is contained in:
Anamaria Loznianu
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@ -47,12 +47,12 @@ npm start
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The above command will build the development bundle and run it locally.
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Great news - your marketplace has successfully been built and is now running locally. Let’s check it out! Open your browser and navigate to http://localhost:8000/. You’ll see that you have a full-on clone of Ocean Market running locally. Give it a go and test out publishing and consuming assets - everything works!
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That’s all that’s required to get a clone of Ocean market working. The whole process is made simple because your clone can happily use all the smart contracts and backend components that are maintained by Ocean Protocol Foundation.
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So you’ve got a fully functioning marketplace at this point, which is pretty cool. But it doesn’t really look like your marketplace. Right now, it’s still just a clone of Ocean Market - the same branding, name, logo, etc. The next few steps focus on personalizing your marketplace.
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@ -11,7 +11,7 @@ A non-fungible token stored on the blockchain represents a unique asset. NFTs ca
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Fungible tokens represent fungible assets. If you have 5 ETH and Alice has 5 ETH, you and Alice could swap your ETH and your final holdings remain the same. They're apples-to-apples. Licenses (contracts) to access a copyrighted asset are naturally fungible - they can be swapped with each other.
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## What is a Data NFT?
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@ -33,7 +33,7 @@ The Polygon Network (ex Matic) provide us with a bridge (connecting Ethereum & P
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When you open the wallet link, the wallet will ask to log in. Select your preferred way of connecting and confirm the action. In our guide we'll use Metamask.
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In some places, the Polygon Network is still using its old brand Matic. Either you run into Matic or Polygon - it's the exact same thing. For the purpose of this guide, we'll use Matic in the next few paragraphs since the interfaces you're going to use still use the old brand.
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@ -43,15 +43,15 @@ For details check the [blog post](https://blog.oceanprotocol.com/ocean-on-polygo
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On the main page of the wallet, you can see all tokens you own on the Matic Mainnet. To deposit tokens (transfer them from the Ethereum Mainnet) you can either use the “deposit” button for a selected token or use “Move funds to Matic Mainnet”.
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Both options will redirect you to the bridge interface. In case you chose the second one, use the dropdown and select the token you want to transfer from the Ethereum Mainnet.
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Choose the amount to transfer and click the “Transfer” button. Matic’s bridge interface will guide you through the whole process and the different steps that will occur. You’ll need to sign two transactions on the Ethereum Mainnet. The first being the approval for your token to be traded on the Matic’s bridge and the second one being the deposit.
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### Withdraw Tokens
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@ -16,7 +16,7 @@ To generate rewards, start by navigating to [df.oceandao.org](https://df.oceanda
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- If you already have veOCEAN tokens, then on the Active Rewards panel on the right side of the page, click the [Set Allocations](https://df.oceandao.org/data) button to navigate to the Data Farming tab.
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## veOCEAN
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@ -32,13 +32,13 @@ After navigating to the [veOCEAN page](https://df.oceandao.org/veocean), you can
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Click the checkbox below the inactive pink ALLOW button, then click the activated pink ALLOW button. Sign the transaction with your wallet. Then, click the LOCK OCEAN button. Sign the transaction with your wallet. Note that all veOCEAN contracts are deployed on the Ethereum mainnet.
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Now the OCEAN tokens are locked in exchange for veOCEAN. The left side panel called "My veOCEAN" shows the corresponding balances of OCEAN and veOCEAN. You can withdraw your OCEAN tokens on this panel when the lock time ends.
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**Note that your OCEAN tokens cannot be withdrawn until the Lock End Date!**
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Notice the right side panel is now titled "Update veOCEAN Lock". You can add OCEAN tokens to your lock or you can increase the Lock End Date, but you cannot shorten your Lock End Date.
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@ -54,7 +54,7 @@ You can generate active OCEAN rewards by allocating veOCEAN to various OCEAN Mar
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Click on the Data Farming tab at the top of the page to navigate to the [Data Farming page](https://df.oceandao.org/data).
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The OCEAN Market datasets and algorithms are listed in the grid. Each column is sortable, and there is a Search field on top of the grid to search for specific projects.
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@ -68,7 +68,7 @@ Click on the Rewards tab at the top of the page to come to the [same page](https
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All rewards are paid out in OCEAN tokens. On every Thursday the pink "Claim" buttons on this page become activated, and you can claim your weekly OCEAN rewards directly into your wallet by clicking on these active buttons.
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#### Linear Decay
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@ -14,6 +14,6 @@ Follow these steps to delegate you veOcean:
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2. Click the Delegate button and sign the transaction. You can view information about your delegation in the My Delegations component.
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3. If needed, you can cancel the delegation to regain your allocation power before the delegation expires.
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If you receive veOCEAN allocation power from other wallets, you will receive their rewards and be responsible for distributing rewards to the delegators. You cannot delegate the veOCEAN you received from delegates, only the veOCEAN you received from your lock.
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@ -1,6 +1,7 @@
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---
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description: An introduction to Data Farming and Ocean Protocol's key incentives.
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---
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# Data Farming 101
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Data Farming (DF) incentivizes for growth of Data Consume Volume (DCV) in the Ocean ecosystem.
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@ -12,8 +13,8 @@ It rewards OCEAN to liquidity providers (stakers) as a function of consume volum
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Rewards are paid in OCEAN and distributed every week on Thursday as follow:
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| Passive Rewards | Active Rewards |
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| ---- | ------- |
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| 50% | 50% |
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| --------------- | -------------- |
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| 50% | 50% |
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Active Rewards are governed and defined by the [Reward Function](df-background.md#reward-function).
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@ -25,18 +26,21 @@ Please [follow this tutorial](../rewards/veOcean-Data-Farming-Tutorial.md) to le
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Otherwise, go to the DF webapp at [df.oceandao.org](df.oceandao.org/) and explore Data Farming for yourself.
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### Where to claim?
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All earnings for veOCEAN holders are claimable on the ”Rewards” page inside the Data Farming webapp on Ethereum mainnet.
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### Where to claim?
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All earnings for veOCEAN holders are claimable on the ”Rewards” page inside the Data Farming webapp on Ethereum mainnet.
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Data assets for DF may published in any [network where Ocean’s deployed in production](../core-concepts/networks.md): Eth mainnet, Polygon, etc.
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### When to claim?
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There are fresh rewards available every Thursday. If you wish, you can wait for many weeks to accumulate before claiming. (It’s all on-chain.)
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### When to do a first claim?
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From the time you lock OCEAN, you must wait at least a week, and up to two weeks, to be able to claim rewards.
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The nerdy version: if you lock OCEAN on day x, you’ll be able to claim rewards on the first weekly ve “epoch” that begins after day x+7.
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From the time you lock OCEAN, you must wait at least a week, and up to two weeks, to be able to claim rewards.
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The nerdy version: if you lock OCEAN on day x, you’ll be able to claim rewards on the first weekly ve “epoch” that begins after day x+7.
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This behavior is inherited from [veCRV](https://curve.readthedocs.io/dao-fees.html); [here’s the code](https://github.com/oceanprotocol/contracts/blob/main/contracts/ve/veFeeDistributor.vy#L240-L256).
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@ -56,7 +60,7 @@ DF Main lasts for decades.
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The table below cross-references DF Round Number, Start Date, Phase & Week, Sub-Phase & Week, and OCEAN Rewards/Week.
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_Ocean Reward Schedule for the next 20+ years_
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## Ranked Rewards
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@ -77,10 +81,11 @@ You can read more about the implementation [in this blog post](https://blog.ocea
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DF gives stronger incentives to publish data services, as follows.
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*All the veOCEAN a publisher has allocated to an asset they’ve published (“staked”) is treated as 2x the stake for rewards calculation.*
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_All the veOCEAN a publisher has allocated to an asset they’ve published (“staked”) is treated as 2x the stake for rewards calculation._
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1. As a staker, due to their staked veOCEAN on their own assets (1x).
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1. As a publisher, for having veOCEAN staked on their own asset(1x).
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The final reward is then calculated and bundled together to be distributed.
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You can read more about the implementation [in this blog post](https://blog.oceanprotocol.com/data-farming-publisher-rewards-f2639525e508).
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You can read more about the implementation [in this blog post](https://blog.oceanprotocol.com/data-farming-publisher-rewards-f2639525e508).
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@ -1,6 +1,7 @@
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---
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description: Details on the emission curves and a study on estimated APYs
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---
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# Emissions & APYs
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With veOCEAN, OceanDAO evolves to be more like CurveDAO:
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@ -9,6 +10,7 @@ With veOCEAN, OceanDAO evolves to be more like CurveDAO:
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- The DAO has increased bias to automation, and to minimizing the governance attack surface.
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The baseline emissions schedule determines the weekly OCEAN budget for this phase. The schedule is like Bitcoin, including a half-life of 4 years. Unlike Bitcoin, there is a burn-in period to ratchet up value-at-risk versus time:
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- The curve initially gets a multiplier of 10% for 12 months (DF Main 1)
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- Then, it transitions to multiplier of 25% for 6 months (DF Main 2)
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- Then, a multiplier of 50% for 6 months (DF Main 3)
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@ -22,21 +24,21 @@ Let’s visualize!
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The image below shows the first 5 years. The y-axis is OCEAN released each week. It’s log-scaled to easily see the differences. The x-axis is time, measured in weeks. In weeks 0–29, we can see the distinct phases for DF Alpha (DF1 // week 0), DF/VE Alpha (DF5 // week 4), DF Beta (DF9 // week 8), DF Main 1 (DF29 // week 28), DF Main 2 (DF80 // week 79), DF Main 3 (DF106 // week 105), and DF Main 4 (DF132 // week 131).
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_OCEAN released to DF per week — first 5 years_
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## Emissions — First 20 years.
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The image below is like the previous one: OCEAN released per week, but now for the first 20 years. Week 131 onwards is DF Main 4. We can see that the y-value divides by two (“halvens”) every four years.
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_OCEAN released to DF per week — first 20 years_
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## Total OCEAN released.
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The image below shows the total OCEAN released by DF for the first 20 years. The y-axis is log-scaled to capture both the small initial rewards and exponentially larger values later on. The x-axis is also log-scaled so that we can more readily see how the curve converges over time.
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_Total OCEAN released to DF — first 20 years_
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## Example APYs
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@ -45,7 +47,7 @@ The plot below shows estimated APY over time. Green includes both passive and ac
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APYs are an estimate because APY depends on OCEAN locked. OCEAN locked for future weeks is not known precisely; it must be estimated. The yellow line is the model for OCEAN locked. We modeled OCEAN locked by observing linear growth from week 5 (when OCEAN locking was introduced) to week 28 (now): OCEAN locked grew from 7.89M OCEAN to 34.98M OCEAN respectively, or 1.177M more OCEAN locked per week.
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_Green: estimated APYs (passive + active). Black: estimated APYs (just passive). Yellow: estimated staking_
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The plots are calculated from [this Google Sheet](https://docs.google.com/spreadsheets/d/1F4o7PbV45yW1aPWOJ2rwZEKkgJXbIk5Yq7tj8749drc/edit#gid=1051477754).
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@ -53,4 +55,4 @@ OCEAN lock time affects APY. The numbers above assume that all locked OCEAN is l
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If you lock for 4 years, and everyone else locks for 2, then multiply expected APY by 2. If you lock for 4 years and others for 1, then multiply by 4.
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Conversely, if you lock for 2 years and everyone else for 4, then divide your expected APY by 2. If you lock for 1 year and others for 4, then divide by 4.
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The numbers assume that you’re actively allocating veOCEAN allocation towards high-DCV data assets. For passive locking or low-DCV data assets, divide APY by 2 (approximate).
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The numbers assume that you’re actively allocating veOCEAN allocation towards high-DCV data assets. For passive locking or low-DCV data assets, divide APY by 2 (approximate).
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@ -1,6 +1,7 @@
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---
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description: An overview of the governance token, veOCEAN (vote-escrowed).
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---
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# veOCEAN
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veOCEAN is a mechanism to align near-term incentives (maximize APY) with long-term incentives (long-term locking). It's a fork of veCRV contracts which have been battle-tested over years.
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@ -16,6 +17,7 @@ After creating your lock you will be credited veOCEAN. We sometimes refer to veO
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veOCEAN allows you to engage with different protocol mechanisms and benefit from the reward programs available.
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There are 4 things you can do with veOCEAN.
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1. **Hold it** veOCEAN pays **Passive Rewards** every week.
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2. **Allocate it** veOCEAN pays **Active Rewards** every week to the top performing Datasets, Algorithms, dApps, and more.
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3. **Delegate it** You can delegate veOCEAN to other Data Farmers who can curate Datasets for you. In return for their services, these farmers may charge you a fee for helping you receive APY on **Active Rewards**. The Delegate feature has just been recently released and enables veOCEAN holders to more easily access Active Rewards.
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@ -28,11 +30,11 @@ Users can lock their OCEAN for different lengths of time to gain voting power. O
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Users that lock their OCEAN for a longer period of time receive more veOCEAN to reflect their conviction in the system.
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| Year | Lock Multiplier | veOCEAN |
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| ---- | ----------| ------- |
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| 1 | 0.25x | 0.25 |
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| 2 | 0.50x | 0.50 |
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| 3 | 0.75x | 0.75 |
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| 4 | 1.00x | 1.00 |
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| ---- | --------------- | ------- |
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| 1 | 0.25x | 0.25 |
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| 2 | 0.50x | 0.50 |
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| 3 | 0.75x | 0.75 |
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| 4 | 1.00x | 1.00 |
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_The Lock Multiplier. Amount of veOCEAN received per OCEAN locked._
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@ -53,11 +55,11 @@ When your lock time ends your veOCEAN balance will hit 0, and your OCEAN tokens
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If you lock 1.0 OCEAN for 4 years, you get 1.0 veOCEAN at the start.
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| Years Passed | veOCEAN Left |
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| ---- | ---- |
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| 1 year | 0.75 |
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| 2 years | 0.50 |
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| 3 years | 0.25 |
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| 4 years | 0.00 |
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| ------------ | ------------ |
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| 1 year | 0.75 |
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| 2 years | 0.50 |
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| 3 years | 0.25 |
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| 4 years | 0.00 |
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At the end of your 4 years, your OCEAN is unlocked.
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@ -87,13 +89,13 @@ veOCEAN holders will each get weekly DF rewards allocation, except a small carve
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**veOCEAN holders can be passive, though they will earn more if active.**
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“Being active” means allocating veOCEAN to promising data assets (data NFTs). Then, rewards follow the usual DF formula: DCV * stake. Stake is the amount of veOCEAN allocated to the data asset. There is no liquidity locked inside a datatoken pool. (And this stake is safe: you can’t lose your OCEAN as it is merely locked.)
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“Being active” means allocating veOCEAN to promising data assets (data NFTs). Then, rewards follow the usual DF formula: DCV \* stake. Stake is the amount of veOCEAN allocated to the data asset. There is no liquidity locked inside a datatoken pool. (And this stake is safe: you can’t lose your OCEAN as it is merely locked.)
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## Flow of Value
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The image below illustrates the flow of value. On the left, at time 0, the staker locks their OCEAN into the veOCEAN contract, and receives veOCEAN. In the middle, the staker receives OCEAN rewards every time there’s revenue to the Ocean Protocol Community (top), and also as part of Data Farming rewards (bottom). On the right, when the lock expires (e.g. 4 years) then the staker is able to move their OCEAN around again.
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_Flow of Value_
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The veOCEAN design is in accordance with the Web3 Sustainability Loop, which Ocean uses as its system-level design.
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@ -106,4 +108,4 @@ The veOCEAN code was forked from the veCRV code. veCRV parameters will be the st
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We have built [a new contract](https://github.com/oceanprotocol/contracts/blob/main/contracts/ve/veAllocate.sol) for users to point their veOCEAN towards given data assets (“allocate veOCEAN”). These new contracts do not control the veOCEAN core contracts at all. In the event of a breach, the only funds at risk would be the rewards distributed for a single week; and we would be able to redirect future funds to a different contract.
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We have an [ongoing bug bounty via Immunefi](https://immunefi.com/bounty/oceanprotocol/) for Ocean software, including veOCEAN and DF components. If you identify an issue, please report it there and get rewarded.
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We have an [ongoing bug bounty via Immunefi](https://immunefi.com/bounty/oceanprotocol/) for Ocean software, including veOCEAN and DF components. If you identify an issue, please report it there and get rewarded.
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