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data-farming/apys.md
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# APYs
<figure><img src="../.gitbook/assets/gif/many-penguins.gif" alt=""><figcaption><p>Multiply, and multiply again. And again.</p></figcaption></figure>
**Contents:**
- [About APYs](#about-apys)
@ -16,25 +18,25 @@ Rewards are earned by users that hold and use their veOCEAN to help the protocol
To receive competitive short-term APYs, veOCEAN requires users to make long-term commitments.
Pre-requisite: to really know APYs, you should first understand OCEAN reward schedule. Learn more [here](ocean-reward-schedule.md).
## Estimated APY vs Time
Let's work through the examples and keep it as simple as possible.
The plot below shows estimated APY over time. It brings together data from the [OCEAN reward schedule](ocean-reward-schedule) and estimates of amount staked (yellow line in plot).
The plot below shows estimated APY over time. Green includes both passive and active rewards; black is just passive rewards. As of DF29, wash consume is no longer profitable, so we should expect a large drop in DCV and therefore in active rewards. So passive rewards (black) provides a great baseline with upside in active rewards (green).
Green includes both passive and active rewards; black is just passive rewards. So passive rewards (black) provides a great baseline with upside in active rewards (green). For example, in DF29 wash consume became unprofitable and led to a drop in DCV and therefore active rewards.
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.
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 DF week 5 (when OCEAN locking was introduced) to week 28: OCEAN locked grew from 7.89M OCEAN to 34.98M OCEAN respectively, or 1.177M more OCEAN locked per week. (Note: the current model was last updated in DF week 29.)
<figure><img src="../.gitbook/assets/data-farming/example_apys.png" alt="" width="563"><figcaption><p><em>Green: estimated APYs (passive + active). Black: estimated APYs (just passive). Yellow: estimated staking</em> </p></figcaption></figure>
All the plots are calculated from [this Google Sheet](https://docs.google.com/spreadsheets/d/1F4o7PbV45yW1aPWOJ2rwZEKkgJXbIk5Yq7tj8749drc/edit#gid=1051477754).
OCEAN lock time affects APY. The numbers above assume that all locked OCEAN is locked for 4 years, so that 1 OCEAN → 1 veOCEAN. But APY could be much worse or more if you lock for shorter durations. Here are approximate bounds.
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. 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. 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).
All the plots are calculated from [this Google Sheet](https://docs.google.com/spreadsheets/d/1F4o7PbV45yW1aPWOJ2rwZEKkgJXbIk5Yq7tj8749drc/edit#gid=1051477754).
⚠️ The model was last updated on DF week 29, and is therefore somehwat out of date. At the time, Volume DF was the only sub-stream of Active DF, and therefore Volume DF got all the Active DF budget. In practice one would need to account for Challenge DF and Predictoor DF. (However this gets more complex because Predictoor DF is highly dependent on prediction accuracy).
----
<figure><img src="../../.gitbook/assets/gif/mafs.gif" alt=""><figcaption><p>K.I.S.S.</p></figcaption></figure>
@ -61,6 +63,4 @@ To help solve this challenge, [we built a dashboard](https://df.oceandao.org/vol
<figure><img src="../../.gitbook/assets/data-farming/curate-datasets.png" alt=""><figcaption><p>Curate like a Pro.</p></figcaption></figure>
You can also [learn how rewards are calculated](../df-volumedf.md#how-rewards-are-calculated) to understand more about what's happening behind the scenes of each Data Farming round.
Finally, you can [review the implementation inside df-web](https://github.com/oceanprotocol/df-web/blob/main/src/utils/rewards.js) to understand how the APYs on the UI are calculated.
Finally, you can [review df-web code](https://github.com/oceanprotocol/df-web/blob/main/src/utils/rewards.js) to understand how the APYs on the UI are calculated.

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data-farming/ocean-reward-schedule.md
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# OCEAN Reward Schedule
<figure><img src="../.gitbook/assets/gif/many-penguins.gif" alt=""><figcaption><p>Multiply, and multiply again. And again.</p></figcaption></figure>
<figure><img src="../.gitbook/assets/gif/cash-flow.gif" alt=""><figcaption></figcaption></figure>
## Overview
## OCEAN Reward Schedule
DF proceeds one round at a time. Each round is weekly.
If you know the schedule by which OCEAN
Rewards are distributed at the end of every week, for the activity of the previous week.
DF currently rewards 150K OCEAN per week. Over time, rewards will increase to 300K (another 2x), then 600K (another 2x), then beyond 1.1M OCEAN/week (near 2x) then decaying over time in a Bitcoin-like emissions curve. Details are [here](ocean-reward-schedule.md)
The reward schedule = the emission schedule, definining the weekly OCEAN budget for DF. DF currently rewards 150K OCEAN per round. Over time, rewards will increase to be as high as 1.1M OCEAN / week, then decay over time Bitcoin-style.
## Reward Schedule
DF rounds are grouped into four phases: DF Alpha, DF/VE Alpha, DF Beta, and DF Main. We are now in the "DF Main" phase.
The table below shows the total amount of OCEAN rewards that will be distributed among Passive and Active rewards each week. The table cross-references DF Round Number, Start Date, Phase & Week, Sub-Phase & Week, and OCEAN Rewards/Week.
The table below shows OCEAN rewards per round, and corresponding phase.
<figure><img src="../.gitbook/assets/data-farming/reward_schedule.png" alt=""><figcaption><p><em>Ocean Reward Schedule for the next 20+ years</em></p></figcaption></figure>
<figure><img src="../.gitbook/assets/gif/cash-flow.gif" alt=""><figcaption></figcaption></figure>
### DF Phases
DF proceeds one round at a time. Each round is weekly. Rounds are grouped into four phases: DF Alpha, DF/VE Alpha, DF Beta, and DF Main. We are now in the "DF Main" phase. Here are details including OCEAN emissions per phase.
Each of the first three phases -- DF Alpha, DF/VE Alpha, and DF Beta phases -- had a fixed value. Each of these ran for 4-20 weeks. The final phase -- DF Main -- runs for decades with a Bitcoin-like emissions-schedule (plus a burn-in-period).
**DF Alpha - Rounds 1-4 (4 wks)**
### Phase: DF Alpha - Rounds 1-4 (4 wks)
- 10K OCEAN rewards per week.
- Counting started Thu June 16, 2022 and ended July 13, 2022. It ran for 4 weeks. DF was temporarily paused after this, for time to put veOCEAN into place.
- The aim was to test technology, learn, and onboard data publishers.
10K OCEAN rewards were budgeted per week. Counting started Thu June 16, 2022 and ended July 13, 2022. Rewards were distributed at the end of every week, for the activity of the previous week. It ran for 4 weeks. The aim was to test technology, learn, and onboard data publishers.
### Phase: DF/VE Alpha - Rounds 5-8 (4 wks)
- 10K OCEAN rewards were per week.
- Counting started Thu Sep 29, 2022 and ended Oct 27, 2022. It ran for 4 weeks.
- The aim was to resume Data Farming with veOCEAN, test the technology, onboard data publishers, and keep learning.
**DF/VE Alpha - Rounds 5-8 (4 wks)**
### Phase: DF Beta - Rounds 9-28 (20 wks)
- Up to 100K OCEAN rewards per week.
- Counting started on Oct 27, 2022, ie the day DF/VE Alpha ended. Counting 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.
10K OCEAN rewards were budgeted per week. Counting started Thu Sep 29, 2022 and ended Oct 27, 2022. Rewards were distributed at the end of every week, for the activity of the previous week. It ran for 4 weeks. The aim was to resume Data Farming along with veOCEAN, test the technology, onboard data publishers, and keep learning.
### Phase: DF Main - Rounds 29-1000+
- Rewards began at 150K OCEAN per week, and go up to 1.1M OCEAN per week. Total emissions are 503.M OCEAN.
- Counting started on March 15, 2023, ie the day DF Beta ended. It runs for decades.
- DF Main's schedule mimics Bitcoin including a half-life of 4 years. Unlike Bitcoin, there is a _burn-in period_ to ratchet up value-at-risk versus time. Burn-in is implemented via four sub-phases: DF Main 1, 2, 3 and 4 with multipliers of 10%, 25%, 50%, and 100% respectively.
- DF Main 1 emits 150K OCEAN per week. It runs 12 months.
- DF Main 2 starts on Mar 14, 2024 (DF80). Rewards go 2x, to 300K OCEAN / week. It runs 6 months.
- DF Main 3 starts on Sep 12, 2024 (DF106). Rewards go 2x, to 600K OCEAN / week. It runs 6 months.
- DF Main 4 starts on Mar 13, 2025 (DF132). Rewards begin at 1.1M OCEAN / week then halve every four years. It runs for decades.
**DF Beta - Rounds 9-28 (20 wks)**
## Visualize Emissions: First 5 years
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.
Let’s visualize emissions!
**DF Main - Rounds 29-1000+**
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.
## Emissions schedule
The emissions schedule determines the weekly OCEAN budget for Data Farming.
The schedule mimics Bitcoin when including a half-life of 4 years. Unlike Bitcoin, there is a _burn-in period_ to ratchet up value-at-risk versus time:
* The curve initially gets a multiplier of 10% for 12 months (DF Main 1)
* Then, it transitions to multiplier of 25% for 6 months (DF Main 2)
* Further, a multiplier of 50% for 6 months (DF Main 3)
* Finally, a multiplier of 100%. (DF Main 4)
We implement the first three phases as constants, because they are relatively short in duration. We implement the fourth phase as a Bitcoin-style exponential: constant, with the constant dividing by two (“halvening”) every four years.
Let’s visualize!
## Emissions — first 5 years
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).
The image below shows the first 5 years (including all DF Phases). 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).
<figure><img src="../.gitbook/assets/data-farming/emissions_first_5years.png" alt="" width="540"><figcaption><p><em>OCEAN released to DF per week — first 5 years</em></p></figcaption></figure>
## Emissions — first 20 years
## Visualize Emissions: First 20 years
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.
The image below is like the previous one: OCEAN released per week. But now, we show 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.
<figure><img src="../.gitbook/assets/data-farming/emissions_first_20years.png" alt="" width="563"><figcaption><p><em>OCEAN released to DF per week — first 20 years</em></p></figcaption></figure>
## Total OCEAN released
## Visualize Total OCEAN released
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.
<figure><img src="../.gitbook/assets/data-farming/emissions_lifetime.png" alt="" width="563"><figcaption><p><em>Total OCEAN released to DF — first 20 years</em></p></figcaption></figure>
## Further resources
The blog post ["Data Farming Main is here"](https://blog.oceanprotocol.com/ocean-data-farming-main-is-here-49c99602419e) provides further detail yet.