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

GITBOOK-324: change request with no subject merged in GitBook

Browse Source
This commit is contained in:
Veronica Manuel 2023-05-26 12:36:09 +00:00 committed by gitbook-bot
parent d08e79f32a
commit eef687ad91
No known key found for this signature in database
GPG Key ID: 07D2180C7B12D0FF
1 changed files with 10 additions and 9 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

19
rewards/veocean.md
View File

@ -35,6 +35,14 @@ 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.
### veOCEAN's Smart Contracts 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).
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.
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.
### The Nitty Gritty of **Passive & Active Rewards**
#### Passive Rewards from Data Farming
@ -49,9 +57,9 @@ Active rewards follow the usual Data Farming formula: $ of sales of the asset \*
\*\*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.
## Time Locking: What is it
### veOCEAN Time Locking: What is it?
Users can lock their OCEAN for different lengths of time to gain voting power. df.oceandao.org is designed to lock OCEAN for a minimum of 2 weeks and a maximum of four years for max benefit. VeToken-economics is simple: The longer user stakes, the more rewards users are eligible to earn.  
Users can lock their OCEAN for different lengths of time to gain **voting power**. df.oceandao.org is designed to lock OCEAN for a minimum of 2 weeks and a maximum of four years for max benefit. VeToken-economics is simple: The longer user stakes, the more rewards users are eligible to earn.  
When users commit to locking their OCEAN tokens for an extended time duration, they are rewarded with an increased amount of veOCEAN tokens. This incentivizes users to have act with strong network support and confidence in the ecosystem.
@ -129,10 +137,3 @@ So it's important to **NOTE:** that you will not be able to retrieve your locked
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
[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).
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.
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.