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GITBOOK-639: Changes based on the received feedback
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@ -8,7 +8,7 @@ coverY: 7.413145539906106
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{% embed url="https://youtu.be/4P72ZelkEpQ" %}
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{% embed url="https://youtu.be/4P72ZelkEpQ" %}
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Society is increasingly reliant on data as AI becomes more popular. However, a small handful of organizations possess and controls massive amounts of our personal data, posing a threat to a free and open society ☢️
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Society is increasingly reliant on data as AI becomes more popular. However, a small handful of organizations possess and control massive amounts of our personal data, posing a threat to a free and open society ☢️
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The concentration of vast datasets in the hands of a few organizations can lead to significant negative consequences for society. These include:
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The concentration of vast datasets in the hands of a few organizations can lead to significant negative consequences for society. These include:
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@ -34,7 +34,7 @@ We believe that data is a valuable resource that should be accessible to **every
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To find out more about the amazing team behind Ocean, you can visit our [website](https://oceanprotocol.com/about).
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To find out more about the amazing team behind Ocean, you can visit our [website](https://oceanprotocol.com/about).
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Are you curious about our mission and how we're making a difference in the world? Then you won't want to miss this video featuring our co-founder, [Trent McConaghy](http://www.trent.st/). He'll share some fascinating insights into what we're doing and why it matters.
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Now that we've made you curious about our mission and how we're making a difference in the world, you won't want to miss this video featuring our co-founder, [Trent McConaghy](http://www.trent.st/). He'll share some fascinating insights into what we're doing and why it matters.
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{% embed url="https://youtu.be/XN_PHg1K61w" fullWidth="false" %}
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{% embed url="https://youtu.be/XN_PHg1K61w" fullWidth="false" %}
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A new data economy with power to the people - Trent McConaghy
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A new data economy with power to the people - Trent McConaghy
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@ -43,4 +43,4 @@ A new data economy with power to the people - Trent McConaghy
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### Ocean Protocol Whitepaper
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### Ocean Protocol Whitepaper
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If you'd like to explore the nitty-gritty of our technology, feel free to dive into our [whitepaper](https://oceanprotocol.com/tech-whitepaper.pdf)! It's a comprehensive resource that explains all the technical details and the core concepts that drive Ocean Protocol. It's a great way to get a deeper understanding of what we're all about.
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If you'd like to explore the details of our technology, feel free to dive into our [whitepaper](https://oceanprotocol.com/tech-whitepaper.pdf)! It's a comprehensive resource that explains all the technical details and the core concepts that drive Ocean Protocol. It's a great way to get a deeper understanding of what we're all about.
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@ -9,15 +9,16 @@ Ocean Protocol is a **decentralized data exchange protocol** that aims to unlock
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Ocean Protocol is used for a variety of purposes, including:
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Ocean Protocol is used for a variety of purposes, including:
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1. **Data Sharing**: Ocean Protocol allows individuals and organizations to share data securely and privately, enabling data owners to monetize their data assets while maintaining control over their data.
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1. **Data Sharing**: Ocean Protocol allows individuals and organizations to share data securely and privately, enabling data owners to monetize their data assets while maintaining control over their data.
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2. **Data Monetization**: Data owners can monetize their data by offering it for sale or by providing data services through compute-to-data (C2D) capabilities. Data consumers can access and utilize data assets.
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2. **Data Monetization**: Data owners can monetize their data by offering it for sale or by providing data services through compute-to-data (C2D) capabilities. Data consumers can access and utilize data assets. 
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3. **Decentralized Data Marketplaces**: Ocean Protocol facilitates the creation of decentralized data marketplaces where data providers can list their data assets and data consumers can discover and access them. These marketplaces operate on a peer-to-peer basis, eliminating the need for intermediaries and providing more efficient and transparent data transactions.
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3. **Decentralized Data Marketplaces**: Ocean Protocol facilitates the creation of decentralized data marketplaces where data providers can list their data assets and data consumers can discover and access them. These marketplaces operate on a peer-to-peer basis, eliminating the need for intermediaries and providing more efficient and transparent data transactions.
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4. **AI Development**: Ocean Protocol supports the development of AI models by providing access to diverse and high-quality datasets. Data scientists and AI developers can leverage these datasets to train and improve their models, leading to more accurate and robust AI systems.
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4. **AI Development**: Ocean Protocol supports the development of AI models by providing access to diverse and high-quality datasets. Data scientists and AI developers can leverage these datasets to train and improve their models, leading to more accurate and robust AI systems.
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5. **Access control:** Ocean Protocol incorporates token-gating mechanisms that grant or restrict access to specific data assets based on predefined criteria, ensuring controlled and regulated data sharing within the ecosystem.
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By leveraging **blockchain technology** and **smart contracts**, Ocean Protocol offers **open-source tools** to securely publish [NFTs](../developers/contracts/data-nfts.md) of your data and algorithms to seamlessly collaborate, trade, and innovate with others.
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By leveraging **blockchain technology** and **smart contracts**, Ocean Protocol offers **open-source tools** to securely publish [NFTs](../developers/contracts/data-nfts.md) of your data and algorithms to seamlessly collaborate, trade, and innovate with others.
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<figure><img src="../.gitbook/assets/general/explore_ocean.png" alt=""><figcaption><p>A vast ocean of data awaits you...</p></figcaption></figure>
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<figure><img src="../.gitbook/assets/general/explore_ocean.png" alt=""><figcaption><p>A vast ocean of data awaits you...</p></figcaption></figure>
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Get a glimpse into some of the things you can do with Ocean Protocol. The opportunities with our protocol to leverage an "Ocean of data" are great and ever-evolving. Together, we'll dive deeper and uncover even more ways to leverage the power of decentralized data.
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Get a glimpse into some of the things you can do with Ocean Protocol. The opportunities with our protocol to leverage an "Ocean of data" are great and ever-evolving. Together, we'll dive deeper and uncover even more ways to harness the power of decentralized data.
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<details>
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<details>
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@ -17,9 +17,9 @@ Thus, if you really want to max out your APY:
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1. Lock your OCEAN for veOCEAN to claim weekly Passive Rewards
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1. Lock your OCEAN for veOCEAN to claim weekly Passive Rewards
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2. Create & publish assets (and make $ in selling them) — or work with people who can
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2. Create & publish assets (and make $ in selling them) — or work with people who can
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3. Lock OCEAN and stake veOCEAN on your published assets for weekly Active Rewards
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3. Lock OCEAN and stake veOCEAN on your published assets for weekly Active Rewards
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4. Claim the rewards
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4. Claim the rewards and compound
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#### Don't have time to publish your own datasets? 
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#### Don't have time to publish your own datasets?
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Another way to improve your yield is by [delegating](../user-guides/how-to-data-farm.md#how-to-delegate-your-active-rewards) your veOCEAN to someone to generate Active Rewards for you! In this case, the idea is that they may do a better job at publishing assets or picking winners better than you can. However, there is some risk to this because the rewards generated will be sent to the person you delegated to, and it's their responsibility to return those rewards back to you if that's the agreement you both made. To read more, see our [info on Delegation](../user-guides/how-to-data-farm.md#how-to-delegate-your-active-rewards).
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Another way to improve your yield is by [delegating](../user-guides/how-to-data-farm.md#how-to-delegate-your-active-rewards) your veOCEAN to someone to generate Active Rewards for you! In this case, the idea is that they may do a better job at publishing assets or picking winners better than you can. However, there is some risk to this because the rewards generated will be sent to the person you delegated to, and it's their responsibility to return those rewards back to you if that's the agreement you both made. To read more, see our [info on Delegation](../user-guides/how-to-data-farm.md#how-to-delegate-your-active-rewards).
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@ -42,7 +42,7 @@ The Reward Function (RF) governs how active rewards are allocated to Data Farmer
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1. Distribute OCEAN across each asset **based on rank**: highest-DCV asset gets the most OCEAN, etc.
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1. Distribute OCEAN across each asset **based on rank**: highest-DCV asset gets the most OCEAN, etc.
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2. For each asset and each veOCEAN holder: If the holder is a publisher, 2x the effective allocation – Baseline rewards = (% allocation in asset) \* (OCEAN for an asset) – Bound rewards to the asset by 125% APY – Bound rewards by asset’s DCV \* 0.1%.
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2. For each asset and each veOCEAN holder: If the holder is a publisher, 2x the effective allocation – Baseline rewards = (% allocation in asset) \* (OCEAN for an asset) – Bound rewards to the asset by 125% APY – Bound rewards by asset’s DCV \* 0.1%.
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For mathematicians and coders, you can find this code inside [calcrewards.py](https://github.com/oceanprotocol/df-py/blob/main/df_py/volume/calc_rewards.py) in the Ocean Protocol [df-py repo](https://github.com/oceanprotocol/df-py/)!
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For mathematicians and coders, you can find this code inside [calcrewards.py](https://github.com/oceanprotocol/df-py/blob/main/df\_py/volume/calc\_rewards.py) in the Ocean Protocol [df-py repo](https://github.com/oceanprotocol/df-py/)!
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### What are Ranked Rewards?
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### What are Ranked Rewards?
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@ -54,7 +54,7 @@ At the top-end, this helps increase the quality and diversification of inventory
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At the bottom-end, this eliminates some potential free-rider issues and smooths out the reward distribution.
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At the bottom-end, this eliminates some potential free-rider issues and smooths out the reward distribution.
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![Ranked Rewards](../.gitbook/assets/rewards/ranked_rewards_study.png)
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![Ranked Rewards](../.gitbook/assets/rewards/ranked\_rewards\_study.png)
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You can read more about the why, what, and how of Ranked Rewards [in this blog post](https://blog.oceanprotocol.com/data-farming-df22-completed-df23-started-reward-function-tuned-ffd4359657ee) and find the full study [in these slides](https://docs.google.com/presentation/d/1HIA2zV8NUPpCELmi2WFwnAbHmFFrcXjNQiCpEqJ2Jdg/).
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You can read more about the why, what, and how of Ranked Rewards [in this blog post](https://blog.oceanprotocol.com/data-farming-df22-completed-df23-started-reward-function-tuned-ffd4359657ee) and find the full study [in these slides](https://docs.google.com/presentation/d/1HIA2zV8NUPpCELmi2WFwnAbHmFFrcXjNQiCpEqJ2Jdg/).
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@ -66,7 +66,7 @@ The asset may be of any type — dataset, an algorithm for Compute-to-Data, or a
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To qualify for DF, an asset must also:
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To qualify for DF, an asset must also:
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* Have been created by Ocean Smart contracts [deployed](https://github.com/oceanprotocol/contracts/blob/v4main/addresses/address.json) by OPF to [production networks](../discover/networks/README.md)
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* Have been created by Ocean Smart contracts [deployed](https://github.com/oceanprotocol/contracts/blob/v4main/addresses/address.json) by OPF to [production networks](../discover/networks/)
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* Can’t be in [purgatory](https://github.com/oceanprotocol/list-purgatory/blob/main/policies/README.md)
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* Can’t be in [purgatory](https://github.com/oceanprotocol/list-purgatory/blob/main/policies/README.md)
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### A Brief History of Data Farming
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### A Brief History of Data Farming
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@ -83,7 +83,7 @@ Data Farming has evolved over time and will continue to do so as the Emission Cu
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Up to 100K OCEAN rewards were budgeted per week. Counting started Thu Oct 27, 2022, and ended on March 15, 2023. It ran for 20 weeks. The aim was to test the effect of larger incentives, and support ecosystem participation, while continually refining the underlying technology.
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Up to 100K OCEAN rewards were budgeted per week. Counting started Thu Oct 27, 2022, and ended on March 15, 2023. It ran for 20 weeks. The aim was to test the effect of larger incentives, and support ecosystem participation, while continually refining the underlying technology.
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**DF Main - Rounds 29-1000+**\
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**DF Main - Rounds 29-1000+**\
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We are now in DF Main which immediately followed the release of DF Beta on Thu Mar 16, 2023. Rewards begin at 150k per week and go to 1.1M OCEAN per week. DF Main emits 503.4M OCEAN worth of rewards and lasts for decades. 
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We are now in DF Main which immediately followed the release of DF Beta on Thu Mar 16, 2023. Rewards begin at 150k per week and goes up to 1.1M OCEAN per week. DF Main emits 503.4M OCEAN worth of rewards and lasts for decades.
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The amount of OCEAN released is determined by the emission schedule as defined by the [Emission Curve](df-emissions-apys.md#emissions--first-5-years), and perhaps more easily understood in the Reward Schedule below.
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The amount of OCEAN released is determined by the emission schedule as defined by the [Emission Curve](df-emissions-apys.md#emissions--first-5-years), and perhaps more easily understood in the Reward Schedule below.
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@ -14,7 +14,7 @@ description: >-
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You see, when you acquire veOCEAN via locking your OCEAN tokens in our Data Farming dApp, the intended use is to **vote on your favorite assets** in the Ocean ecosystem!
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You see, when you acquire veOCEAN via locking your OCEAN tokens in our Data Farming dApp, the intended use is to **vote on your favorite assets** in the Ocean ecosystem!
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When you vote on assets that sell, then **you get a portion of the sales**!
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When you allocate to assets that sell, then **you get a portion of the sales**!
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You can do this all from the Data Farming dApp [Farms page](https://df.oceandao.org/farms).
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You can do this all from the Data Farming dApp [Farms page](https://df.oceandao.org/farms).
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@ -33,19 +33,19 @@ veOCEAN allows you to engage with different Ocean Protocol mechanisms and benefi
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#### Passive Rewards from Data Farming
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#### Passive Rewards from Data Farming
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veOCEAN holders get weekly Data Farming rewards with a small carveout for any Ocean Protcol Data Challenges that run through Data Farming operations.
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veOCEAN holders get weekly Data Farming rewards with a small carveout for any Ocean Protocol Data Challenges that run through Data Farming operations.
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#### Active Rewards from Community Fees
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#### Active Rewards from Community Fees
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veOCEAN holders can generate yield completely passively if they wish, though they are incentivized with larger real yield if they **actively participate** in farming yield from assets.
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veOCEAN holders can generate yield completely passively if they wish, though they are incentivized with larger real yield if they **actively participate** in farming yield from assets.
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Active rewards follow the usual Data Farming formula: $ of sales of the asset \* allocation to that asset.\*\* But also every transaction in the Ocean ecosystem and Ocean Protocol backend infrastructure generates **"community swap" fees that go into Active Rewards**. 50% of the community fees goes to veOCEAN holders, and 50% goes to the Ocean Protocol Foundation's community-oriented traction programs.
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Active rewards follow the usual Data Farming formula: $ of sales of the asset \* allocation to that asset.\*\* 
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\*\*There is no liquidity locked inside a datatoken pool, and this allocation is safe: you can’t lose your OCEAN as it is merely locked.
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\*\*There is no liquidity locked inside a datatoken pool, and this allocation is safe: you can’t lose your OCEAN as it is merely locked.
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### veOCEAN Time Locking
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### veOCEAN Time Locking
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Users can lock their OCEAN for different lengths of time to gain more veOCEAN **voting power**. The Data Farming dApp is designed to lock OCEAN for **a minimum of 2 weeks and a maximum of four years** (for max rewards). The longer you lock your OCEAN, the more veOCEAN + OCEAN rewards you get!  
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Users can lock their OCEAN for different lengths of time to gain more veOCEAN **voting power**. The Data Farming dApp is designed to lock OCEAN for **a minimum of 2 weeks and a maximum of four years** (for max rewards). The longer you lock your OCEAN, the more veOCEAN + OCEAN rewards you get!
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On the dApp's [veOCEAN page](https://df.oceandao.org/veocean), the "Lock Multiplier" represents the percentage amount of veOCEAN tokens received per OCEAN token locked.
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On the dApp's [veOCEAN page](https://df.oceandao.org/veocean), the "Lock Multiplier" represents the percentage amount of veOCEAN tokens received per OCEAN token locked.
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@ -83,7 +83,7 @@ At the end of your 4 years, your OCEAN is unlocked.
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#### Linear Decay
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#### Linear Decay
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**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.
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**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.
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### Replenishing your veOCEAN
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### Replenishing your veOCEAN
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### veOCEAN Earnings
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### veOCEAN Earnings
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All earnings for veOCEAN holders are claimable in Ethereum mainnet. (Data assets for DFing may published in any network where Ocean’s deployed in production: ETH Mainnet, Polygon, etc.)
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All earnings for veOCEAN holders are claimable in the Ethereum mainnet. (Data assets for DFing may be published in any network where Ocean’s deployed in production: ETH Mainnet, Polygon, etc.)
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Data Farming rounds occur weekly; in line with this, there’s a new ve distribution “epoch” every week. This affects when you can first claim rewards. Specifically, if you lock OCEAN on day x, you’ll be able to claim rewards on the first ve epoch that begins after day x+7. Put another way, from the time you lock OCEAN, you must wait at least a week, and up to two weeks, to be able to claim rewards. (This behavior is inherited from veCRV. Here’s the code. )
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Data Farming rounds occur weekly; in line with this, there’s a new [`ve`](https://github.com/oceanprotocol/df-py/tree/main/contracts/ve) distribution “epoch” every week. This affects when you can first claim rewards. Specifically, if you lock OCEAN on day x, you’ll be able to claim rewards on the first ve epoch that begins after day x+7. Put another way, from the time you lock OCEAN, you must wait at least a week, and up to two weeks, to be able to claim rewards. (This behavior is inherited from veCRV. Here’s the [code](https://github.com/oceanprotocol/df-py/tree/main/contracts/ve) )
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### DYOR!
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### DYOR!
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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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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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<figure><img src="../.gitbook/assets/rewards/flow_of_value.png" alt=""><figcaption><p>Flow of Value</p></figcaption></figure>
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<figure><img src="../.gitbook/assets/rewards/flow_of_value.png" alt=""><figcaption><p>Flow of Value</p></figcaption></figure>
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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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The veOCEAN design is in accordance with the Web3 Sustainability Loop, which Ocean uses as its system-level design.
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@ -132,4 +130,3 @@ The "veTokenomics" model of veOCEAN (vote-escrowed token economics) is inspired
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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 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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