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@ -35,12 +35,6 @@ The "veTokenomics" model of veOCEAN (vote-escrowed token economics) is inspired
We'll get to that "on-chain governance" bit in a second. But first, [here is Ocean Protocol's open-source code](https://github.com/oceanprotocol/contracts/blob/main/contracts/ve/veFeeDistributor.vy#L240-L256) for veOCEAN, and if you're a developer, then you'll notice the strong similarities to [veCRV's](https://curve.readthedocs.io/dao-fees.html) code. We'll get to that "on-chain governance" bit in a second. But first, [here is Ocean Protocol's open-source code](https://github.com/oceanprotocol/contracts/blob/main/contracts/ve/veFeeDistributor.vy#L240-L256) for veOCEAN, and if you're a developer, then you'll notice the strong similarities to [veCRV's](https://curve.readthedocs.io/dao-fees.html) code.
### DYOR!
veOCEAN is architected to be locked (i.e. 'staked') for a certain period of time and cannot be transferred or sold during the lock time that is determined by each user.
So it's important to **NOTE:** that you will not be able to retrieve your locked OCEAN tokens until the Lock End Date you selected on the dApp!
### The Nitty Gritty of **Passive & Active Rewards** ### The Nitty Gritty of **Passive & Active Rewards**
#### Passive Rewards from Data Farming #### Passive Rewards from Data Farming
@ -99,10 +93,6 @@ At the end of your 4 years, your OCEAN is unlocked.
**Your balance of veOCEAN may be less than the amount when you first locked your tokens because your veOCEAN balance decreases linearly over time until the Lock End Date when you can withdraw your OCEAN tokens.** This is because rewards are designed to be paid out weekly in a decreasing amount until you unlock your OCEAN tokens entirely. The veOCEAN code is a fork of Curve's battle tested [veCRV](https://curve.readthedocs.io/dao-vecrv.html) token code. **Your balance of veOCEAN may be less than the amount when you first locked your tokens because your veOCEAN balance decreases linearly over time until the Lock End Date when you can withdraw your OCEAN tokens.** This is because rewards are designed to be paid out weekly in a decreasing amount until you unlock your OCEAN tokens entirely. The veOCEAN code is a fork of Curve's battle tested [veCRV](https://curve.readthedocs.io/dao-vecrv.html) token code.
### Withdrawal
After the Lock End Date, then you can withdraw your principal OCEAN tokens on the [veOCEAN page](https://df.oceandao.org/veocean) on the left side panel.
## Replenishing your veOCEAN ## Replenishing your veOCEAN
You can choose to update your lock and replenish your veOCEAN balance at any time. You can choose to update your lock and replenish your veOCEAN balance at any time.
@ -129,6 +119,16 @@ The veOCEAN design is in accordance with the Web3 Sustainability Loop, which Oce
The veOCEAN code was forked from the veCRV code. veCRV parameters will be the starting point. To minimize risk, tweaks will be circumspect. The veOCEAN code was forked from the veCRV code. veCRV parameters will be the starting point. To minimize risk, tweaks will be circumspect.
### DYOR!
veOCEAN is architected to be locked (i.e. 'staked') for a certain period of time and cannot be transferred or sold during the lock time that is determined by each user.
So it's important to **NOTE:** that you will not be able to retrieve your locked OCEAN tokens until the Lock End Date you selected on the dApp!
### Withdrawal
After the Lock End Date, then you can withdraw your principal OCEAN tokens on the [veOCEAN page](https://df.oceandao.org/veocean) on the left side panel.
## Security ## Security
[veOCEAN core contracts](https://github.com/oceanprotocol/contracts/tree/main/contracts/ve) use [veCRV contracts](https://curve.readthedocs.io/dao-vecrv.html) with zero changes, on purpose: the veCRV contracts have been battle-tested since inception and have not had security issues. Nearly 500 million USD is locked across all forks of veCRV, with the leading DeFi protocols adopting this standard. veCRV contracts [have been audited by Trail of Bits and Quantstamp](https://github.com/curvefi/curve-dao-contracts#audits-and-security). [veOCEAN core contracts](https://github.com/oceanprotocol/contracts/tree/main/contracts/ve) use [veCRV contracts](https://curve.readthedocs.io/dao-vecrv.html) with zero changes, on purpose: the veCRV contracts have been battle-tested since inception and have not had security issues. Nearly 500 million USD is locked across all forks of veCRV, with the leading DeFi protocols adopting this standard. veCRV contracts [have been audited by Trail of Bits and Quantstamp](https://github.com/curvefi/curve-dao-contracts#audits-and-security).