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data-farming/README.md
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@ -30,12 +30,23 @@ All streams and substreams repeat **weekly** that start on Thursdays 00:00 at UT
Active DF's substreams can -- and do -- evolve over time. It's chronicled [here](https://blog.oceanprotocol.com/ocean-data-farming-series-c7922f1d0e45).
## Reward Schedule & APYs
**[Reward Schedule](ocean-reward-schedule.md)**. The 150,000 OCEAN / week currently available for DF rewards will increase over time to over 1.1M OCEAN / week.
**[Yields](apys.md)**. Typical APYs are 5–20%, but may be as high as 45% and as low as 1%. APYs will vary week to week. APY depends on total OCEAN staked, duration of OCEAN lock, DCV, what DF streams you participate in, and other factors.
**[Yields](apys.md)**. Historically, APYs are 5-15%. APYs vary week to week. APY depends on total OCEAN staked, duration of OCEAN lock, DCV, what DF streams you participate in, and other factors.
## Networks
OCEAN rewards for all DF streams & substreams are on Ethereum mainnet. One exception: rewards for Predictoor DF are on Oasis Sapphire.
Users engage in different networks, depending on the DF stream:
- Passive DF: veOCEAN is deployed on Ethereum mainet. Users lock OCEAN for veOCEAN on Ethereum mainnet
- Volume DF: users can allocate veOCEAN to data assets on Etherum mainnet, Polygon, BSC, Moonriver, Energy Web Chain, or Sapphire.
- Challenge DF: users submit predictions on Mumbai (Polygon testnet).
- Predictoor DF: users submit predictions on Sapphire.
The [networks docs](../discover/networks/README.md) have more info about networks.
## Further resources

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data-farming/apys.md
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@ -10,40 +10,80 @@ description: >-
**Contents:**
- [About APYs](#about-apys)
- [User Guide to Estimating APYs](#user-guide-to-estimating-apys)
- [Estimated APY vs Time](#estimated-apy-vs-time)
- [On Estimating APYs](#on-estimating-apys)
# About APYs
Rewards are earned by users that hold and use their veOCEAN to help the protocol improve and grow.
### Source of Rewards
To receive competitive short-term APYs, veOCEAN requires users to make long-term commitments.
Rewards are earned by users that participate in one or more Data Farming streams. Passive DF allows passive holding of veOCEAN; Active DF streams require more work from the user.
## Estimated APY vs Time
Historically, annual percentage yields (APYs) are 5-15%. See for yourself: in [DF app](https://df.oceandao.org/activerewards) and scroll down to "Data Farming History".
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).
You can do your own APY estimations. In Passive DF, APY is highly dependent on the locked amount *and* duration of lock. In other DF streams, there are other factors.
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.
### Definition of Yield, WPY, APY
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.)
A **yield** is the relative gain in value compared to the amount you started with. Specifically:
`yield = (start amount + gained amount) / (start amount) - 1.0`
For example, if you start with 1000 OCEAN and earn 5 OCEAN:
`yield = (1000 + 5) / (1000) - 1.0 = 0.005`
We can express yield as a percentage simply by multiplying by 100 (%). For example, yield of `0.005` in percentage is `0.005 * 100% = 0.5%`.
The yield for one week is **Weekly Percentage Yield**, or **WPY**. For example, if you started with 1000 OCEAN and earned 5 OCEAN from DF, in one week, then your WPY = 0.005 = 0.5%.
The yield for one year is **Annual Percentage Yield**, or **APY**. APY can be estimated from WPYs. Assuming no compounding, `APY = WPY*52`. We drill deeper below.
# Estimated APY vs Time
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).
**Green is total APY** from passive and active rewards. **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.
<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>
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.
**It's an estimate.**
- That's ok! As the great statistician G.E. Box said, "All models are wrong, some are useful".
- APYs are an estimate because they depend on both DF rewards and OCEAN locked. Both of those are estimates, as follows.
- For simplicity, the model assumes that Active DF rewards are solely composed of Volume DF using the whole Active DF budget [1].
- OCEAN locked and lock time is not known for future weeks; it must be estimated [2].
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).
**OCEAN lock time greatly 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. Divide by 4 if you lock for 1 year. [3] elaborates.
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).
**Raw model.** All the plots are calculated from [this Google Sheet](https://docs.google.com/spreadsheets/d/1F4o7PbV45yW1aPWOJ2rwZEKkgJXbIk5Yq7tj8749drc/edit#gid=1051477754).
----
<figure><img src="../../.gitbook/assets/gif/mafs.gif" alt=""><figcaption><p>K.I.S.S.</p></figcaption></figure>
# User Guide to Estimating APYs
# On Estimating APYs
### Estimating Passive APY
### Estimating APY from WPYs
Here are a couple ways to estimate APY: _with_ compounding, and without.
**APY with compounding.**
- If you were to take OCEAN rewards for given week and immediately put them back into Data Farming, then your rewards will **compound** every week.
- Then, `APY = (1.0 + WPY for week 1) * (1.0 + WPY for week 2) * ... * (1.0 WPY for week 52) - 1.0.
- Assuming equal WPY per week, `APY = (1.0 + WPY)^52 - 1.0`. Use 52.25 not 52.0 if you wish.
- For WPY of 0.005, then `APY = (1.0 + 0.005)^52 - 1.0 = 0.296 = 29.6%`.
- This assumes zero gas fees. That's reasonable given that staking & claiming are one-time transactions.
**APY without compounding.**
- If you don't do compounding, then `APY = (WPY for week 1) + (WPY for week 2) + ... + (WPY for week 52)`.
- Assuming equal WPY per week, `APY = WPY * 52`.
- For WPY of 0.05, then `APY = 0.005 * 52 = 0.260 = 26.0%`.
- This assumes zero gas fees. This works if you have a large amount of veOCEAN, and therefore large weekly OCEAN rewards, compared to gas fees. If that's not the case, so that gas fees don't destroy your profits, then you should (a) compound less often (b) use gas when it's cheapest, [see here](https://www.useweb3.xyz/gas).
### Estimating Passive DF APYs
To make it easier to estimate your APY, [we have created a simple spreadsheet](https://docs.google.com/spreadsheets/d/1zzuW5pBbX6j6hZL_XtJDtSR2-rDHa_LGOEwgoQ4D8lk/edit?usp=sharing) that let's you easily estimate your Passive APY.
@ -53,14 +93,48 @@ We have provided 2 sheets as an example of locking-up 10,000 OCEAN for:
The above are simplified examples meant for everyone to understand. They are naive investment strategies and are meant to provide you, the reader, with some examples to build upon. You can use these as a reference to create your own plan, so feel free to make a copy of this spreadsheet and customize it to your needs and wants.
### Estimating Active APY (from Volume DF)
### Estimating Volume DF APYs
Active Rewards are a bit more complicated and depend on many factors that are currently hard to predict accurately. It is unlikely for the user to get a practical result, which is why we don't offer a tool to estimate Active APY right now.
APY from Volume DF is a bit more complicated and depend on many factors that are currently hard to predict accurately. It is unlikely for the user to get a practical result, which is why we don't offer a tool to estimate this value right now.
You can easily expand the spreadsheet above to support a basic, naive calculations for Active Rewards such as adding a fixed-rate.
You can easily expand the spreadsheet above to support a basic, naive calculations for Volume DF Rewards such as adding a fixed-rate.
To help solve this challenge, [we built a dashboard](https://df.oceandao.org/volume-df) that shows historical and ongoing summaries of APY, Data Consume Volume, and veOCEAN allocations per-round.
<figure><img src="../../.gitbook/assets/data-farming/curate-datasets.png" alt=""><figcaption><p>Curate like a Pro.</p></figcaption></figure>
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.
### Estimating Challenge DF APYs
Challenge DF requires no OCEAN locked or staked, yet provides rewards if you win the prediction game. Therefore theoretically APY is infinity. We ignore Challenge DF for APY discussion.
### Estimating Predictoor DF APYs
**Predictoor and staking.** Staking is a fundamental component of Predictoor: when someone makes a prediction, they must have an OCEAN stake amount accompanying that prediction.
Amount of stake increases potential gain and potential loss. For a given prediction, the more one stakes, the more they earn if they're right; and the more they lose if wrong. Earnings if right are also a function of Predictoor data feed sales revenue.
Predictoor has staking independent of Data Farming. Therefore, yield comes even without DF. Then, _Predictoor DF_ acts as _extra_ sales revenue for Predictoor data feeds; and yield with Predictoor DF is even higher.
**Yield for predictoors.** We can apply the yield formula for each prediction:
`yield = (start amount + gained amount) / (start amount) - 1.0`
Where in Predictoor and Predictoor DF, values are:
- `start amount` = OCEAN staked in prediction
- `gained amount` = `revenue * stake / (all users stake) - fee` if correct, `stake` if incorrect
**Be careful!** Yield can be negative if one's stake far exceeds revenue, even with a highly accurate model. But, if one has right-sized stakes and an accurate model, then yield can be quite healthy.
**Rapid compounding.** In other DF streams, rewards come weekly; so compounding is weekly. In Predictoor and Predictoor DF, a predictoor's revenue (rewards) come every epoch (every 5min or 1h). Therefore compounding in Predictoor could be _very_ fast, for much healthier yields yet.
**Estimation fidelity.** Since Predictoor is so young, we don't have detailed estimates of Predictoor APYs yet. We're excited to see where this takes us:)
# Notes
[1] For better accuracy, 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.
[2] 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. The true values of OCEAN locked was last updated on DF week 29. For more accuracy, that could be updated to the values since then.
[3] 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).

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data-farming/faq.md
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@ -4,180 +4,63 @@ description: Frequently Asked Questions about Data Farming
---
## Data Farming FAQ
### Networks
### Staking and Risk
<details>
<summary>Which networks does Data Farming operate on?</summary>
<summary>What does "staking" mean in an Ocean context?</summary>
OCEAN rewards for all DF streams & substreams are on Ethereum mainnet. One exception: rewards for Predictoor DF are on Oasis Sapphire.
Its precise meaning depends on the DF stream.
Here are the networks for each DF stream & substream:
- Passive DF: users lock OCEAN for veOCEAN on Ethereum mainnet
- Volume DF: users can allocate veOCEAN to data assets on Etherum mainnet, Polygon, BSC, Moonriver, Energy Web Chain, or Sapphire.
- Challenge DF: users submit predictions on Mumbai (Polygon testnet).
- Predictoor DF: users submit predictions on Sapphire.
The [networks docs](../discover/networks/README.md) have more info about networks.
</details>
### veOCEAN and staking
<details>
<summary>I'm new to Ocean and I want to stake my OCEAN. Can you show me how? Where can I learn about APY and locks?</summary>
Absolutely, we've adopted the voting escrowed system from Curve Finance (veCRV) and created veOCEAN.
veOCEAN lets you lock OCEAN to receive veOCEAN. You then automatically access Passive Rewards via Data Farming while learning more about Active Rewards. Here are some handy resources to help you get started:
1. [Tutorial](user-guides/how-to-volumedf.md)
2. [Estimate your APY](user-guides/how-to-estimate-apy.md)
By exploring these links, you'll get step-by-step guidance and insights into maximizing your rewards with veOCEAN.
We cannot offer guidance as how to allocate your voting power, that's your decision.
- Passive DF: stake OCEAN = lock OCEAN into veOCEAN
- Volume DF: stake OCEAN on asset = allocate veOCEAN towards an asset
- Challenge DF: (there is no staking)
- Predictoor DF: put OCEAN into a prediction transaction
</details>
<details>
<summary>Are veOCEAN tradeable or have a market price?</summary>
<summary>Are there any risks associated with DF?</summary>
OCEAN has a market price; it's [available](https://www.oceanprotocol.com/ocean-token) on many exchanges.
As with any system, inherent risks exist. We try to minimize them, as follows.
Once you lock OCEAN, you get veOCEAN then it has more constraints. veOCEAN cannot be traded or transferred. However, you can [delegate](delegate.md) veOCEAN to others, such that they control allocation to data assets and receive rewards.
There's also the [psdnOCEAN](https://www.coingecko.com/en/coins/poseidon-ocean) option. psdnOCEAN is an ERC20-compliant "liquid staking derivative" [contract](https://etherscan.io/token/0x51fa2efd62ee56a493f24ae963eace7d0051929e) that in turn holds veOCEAN. psdnOCEAN is a product by [H2O](https://www.h2odata.xyz//), a team separate from - though collaborating with - the Ocean core team.
- You can lock OCEAN for psdnOCEAN via [the H2O "convert" dapp](https://liquid-staking.h2odata.xyz/convert/ocean).
- psdnOCEAN can be traded in exchanges like the [OCEAN-psdnOCEAN Balancer pool](https://app.balancer.fi/#/ethereum/swap?outputCurrency=0x51Fa2efd62ee56a493f24AE963eAce7D0051929E). ⚠️Be careful - if liquidity is low you will experience high slippage.
</details>
<details>
<summary>Which chain is veOCEAN deployed on?</summary>
[veOCEAN & DF](https://github.com/oceanprotocol/contracts/tree/main/contracts/ve) core contracts are deployed on Ethereum mainnet.
</details>
### veOCEAN and Staking
<summary>How much Ocean do I need to stake to earn interest?</summary>
There is no minimum amount. The rewards will depend on the amount you lock.
You will get passive rewards by default when you lock tokens. On top of that, you can get active rewards if you actively participate in the program. Here are some [resources](user-guides/how-to-veocean.md).
- Passive DF: uses veCRV contracts which have been battle-tested in high volume since 2020.
- Volume DF: doesn't change veOCEAN behavior. Rather, separate contracts "see" the veOCEAN staked to compute amount of rewards.
- Challenge DF: no funds at risk
- Predictoor DF: you stake a small amount of OCEAN in each epoch (eg every 5min). If issues arise, you can get out quickly.
</details>
<details>
<Summary>I locked my OCEAN for veOCEAN but can't see the rewards. What am I missing?</Summary>
Please hang in there and stay patient, as it can take almost two weeks to receive your first reward. 😊
<summary>Is there any impermanent loss (IL) in my staking?</summary>
No. IL is typically associated with providing liquidity to decentralized exchange or pools. There are no pools involved in any of the DF streams [1].
</details>
### Rewards Payout
<details>
<summary>If I stake my Ocean for 6 months and the price of Ocean goes up during that time, will my staked tokens increase in value as well?</summary>
<summary>What APYs can I expect?</summary>
Yes. When you lock OCEAN, you'll receive them back at the end of the lock-up period. If the value increases during this time, your OCEAN will appreciate in worth. The same principle applies in reverse if the value decreases
Historically, annual percentage yields (APYs) are 5-15%. See [APY docs](apys.md) for details.
</details>
<details>
<summary>Is it possible to only participate in Passive Rewards? Or should I participate in Active Rewards?</summary>
You participate by default in Passive Rewards when you lock OCEAN.
But to maximize your rewards, you will also need to engage in Active Rewards.
It's worth noting that active staking does come with associated costs, such as gas fees which you will need to cover.
More information about [APYs](user-guides/how-to-estimate-apy).
</details>
### Liquid Staking
<details>
<summary>Are there any liquid staking wrappers for veOCEAN?</summary>
You can also earn active staking rewards by assigning your veOCEAN directly on datasets or through a proxy ([psdnOCEAN](https://docs.h2odata.xyz/protocol-overview/psdnocean-veocean-liquid-staking)), which deploys your veOCEAN at no risk, in order to gain a share of active rewards.
</details>
<details>
<summary>Why the ratio between psdnOCEAN and OCEAN is not close to 1:1?</summary>
The ratio stands at 80% to 20%, creating an imbalanced pool that minimizes price fluctuations. You might find this [resource](https://blog.oceanprotocol.com/psdnocean-the-first-liquid-staking-wrapper-by-the-h2o-team-is-now-live-a3330e15fa5c) valuable.
</details>
<details>
<Summary> How to convert PsdnOcean back to OCEAN ?</Summary>
You can convert psdnOCEAN back to OCEAN using the Balancer AMM liquidity [pool](https://app.balancer.fi/#/ethereum/pool/0xf8c4cd95c7496cb7c8d97202cf7e5b8da2204c2b00020000000000000000039e).
[Price information](https://www.geckoterminal.com/eth/pools/0xf8c4cd95c7496cb7c8d97202cf7e5b8da2204c2b) for psdnOCEAN.
</details>
### Locking & Withdrawing
<details>
<summary>What's the amount of veOCEAN one can get for locking 1 OCEAN?</summary>
1 veOCEAN if you lock for 4 years. Learn more about VeOCEAN [here](df-veocean.md).
</details>
<details>
<summary>If I withdraw before the unlock date, what happens to my veOCEAN and rewards?</summary>
You can't withdraw before the [unlock date](df-veocean.md).
</details>
<details>
<summary>Is there a way to transform veOCEAN to OCEAN gradually over the lock period?</summary>
No, you can't convert your veOCEAN to OCEAN during the lock period. When the lock period concludes, you gain access to all your locked OCEAN.
To learn more about veOCEAN, check out this [resource](df-veocean).
</details>
<details>
<summary>What is the best time to lock OCEAN to avoid high gas fees?</summary>
When [gas](https://www.useweb3.xyz/gas) is cheap.
</details>
### Claiming Rewards
<details>
<summary>When I claim my OCEAN, do I need to restake them manually, or are they auto-compounded?</summary>
They are not auto-compounded.
They can be claimed/redeposited whenever you want. If you don't claim, they just stack up. There is no loss.
The [APY docs](apys.md) provide formulae on compounding vs. not.
</details>
### APY
<details>
<summary>Are rewards paid out in veOCEAN or OCEAN?</summary>
@ -188,67 +71,130 @@ All rewards in Data Farming are paid out in OCEAN and can be claimed at the ever
<details>
<summary>I locked 10k OCEAN but only received 0.1 OCEAN as a reward. What gives? </summary>
<summary>Can the DF rewards change during a given week?</summary>
No. At the beginning of a new DF round, rules are laid out, either implicitly if no change from the previous round, or explicitly in a blog post if there are new rules.
Caveat: it’s "no" at least in theory! Sometimes there may be tweaks if there is community consensus or a bug.
</details>
<details>
<summary>I locked 10,000 OCEAN but only received 0.1 OCEAN as a reward. What gives? </summary>
If you've locked 10,000 OCEAN for a short period, it's possible to see a near-0% APY.
To boost your APY, consider locking your OCEAN for a more extended period. It's not only about the amount you lock but also **the duration of the lock that matters most**. Longer lock periods yield more significant results. You can find further insights in this [document](user-guides/how-to-estimate-apy).
To boost your APY, consider locking your OCEAN for a more extended period. It's not only about the amount you lock but also **the duration of the lock that matters most**. Longer lock periods yield more significant results.
</details>
<details>
<Summary>I locked my OCEAN for veOCEAN but can't see the rewards. What am I missing?</Summary>
Please hang in there and stay patient, as it can take almost two weeks to receive your first reward. 😊
</details>
<details>
<summary>Could you explain the benefits of staking OCEAN and how the APY is calculated?</summary>
<summary>High gas fields hurt my yield! What is the best time to avoid high gas fees?</summary>
Yes, You can find the details in these resources.⁣
1. [Benefits](df-veocean).
2. [Passive Rewards](df-intro).
3. [Emissions & APYs](df-emissions-apys).
When gas is cheap. [Here](https://www.useweb3.xyz/gas) is data on gas prices.
Also, remember that you don't need to claim rewards and re-stake every week. You could do it less frequently to avoid gas fees. (Balance this with the benefits of compounding.)
</details>
<details>
<summary>Where do I learn more about the OCEAN reward schedule?</summary>
In its [docs page](ocean-reward-schedule.md).
</details>
### veOCEAN & Passive DF
<details>
<summary>How much OCEAN do I need to lock to earn yield?</summary>
There is no minimum amount. The rewards will depend on the amount you lock.
You will get passive rewards by default when you lock OCEAN. And you can get Volume DF rewards if you allocate veOCEAN to data assets.
</details>
<details>
<summary>If I lock my OCEAN for 6 months and the price of OCEAN goes up during that time, will my staked tokens increase in value as well?</summary>
Yes. When you stake OCEAN, you'll receive them back at the end of the lock-up period. If the value increases during this time, your OCEAN will appreciate in worth. The same principle applies in reverse if the value decreases
</details>
<details>
<summary>What is the current APY (Annual Percentage Yield) for staking?</summary>
<summary>What's the amount of veOCEAN one can get for locking 1 OCEAN?</summary>
The APY is highly dependent on the locked amount and more importantly on the locking period. Please see the [Estimate your APY](user-guides/how-to-estimate-apy) guide.
1 veOCEAN if you lock for 4 years.
</details>
<details>
<summary>Where can I see the history for Data Farming APY to get an idea of what to expect?</summary>
<summary>If I withdraw before the unlock date, what happens to my veOCEAN and rewards?</summary>
Just, visit the Data Farming website and scroll down to the [Data Farming History](https://df.oceandao.org/activerewards) section.
You can't withdraw before the unlock date.
</details>
<details>
<summary>Is there a way to transform veOCEAN to OCEAN gradually over the lock period?</summary>
No, you can't convert your veOCEAN to OCEAN during the lock period. When the lock period concludes, you gain access to all your locked OCEAN.
</details>
<details>
<summary>Is it possible to only participate in Passive Rewards?</summary>
Yes.
And, you participate by default in Passive Rewards when you lock OCEAN.
But to maximize your rewards, you will also need to engage in the other streams.
</details>
<details>
<summary>Where do I learn more about veOCEAN & Passive DF?</summary>
In its [docs page](veocean-passivedf.md).
</details>
### Volume DF
<details>
<summary>What assets are eligible for Data Farming?</summary>
<summary>What data assets are eligible for Volume DF?</summary>
The data asset may be of any type — dataset (for static URIs), algorithm for Compute-to-Data, or any other Datatoken token-gated system. The data asset may be fixed price or free price. You can find more details in the [DF Background page](df-volumedf.md#assets-that-qualify-for-data-farming)
The data asset may be of any type — data feed, API, file, etc. dataset (for static URIs), algorithm for Compute-to-Data, or any other Datatoken token-gated system. The data asset may be fixed price or free price.
</details>
<details>
<summary>Do I only receive Active Rewards from Volume DF if the datasets I staked on receive DCV?</summary>
<summary>Do I only receive Volume DF rewards if the datasets I've staked on have DCV?</summary>
Yes, you will receive [Active Rewards from Volume DF](df-intro#what-are-active-rewards) if the assets you've curated have Data consume Volume(DCV). ⁣
</details>
<details>
<summary>Is there a dashboard to view the volume of DF-main?</summary>
Yes
[DF Dashboard](https://df.oceandao.org/datafarming) (per round).
[Autobot](https://autobotocean.com/volumes) (historical).
Yes, correct.
</details>
@ -256,9 +202,11 @@ Yes
<summary>How do I analyze projects and decide where to allocate? Do I look at current and past APYs, or is there more to consider? </summary>
Curators can select datasets to stake on based on several factors such as publisher reputation, number of previous consumes of the dataset, ratings, and comments of others.
Curators can select datasets to stake on based on previous DCV, publisher reputation, and more.
We provide an overview into many of these stats inside the [Volume DF page](https://df.oceandao.org/volume-df) in the Data Farming dApp.
You can see DCV stats in the DF webapp's [Volume DF page](https://df.oceandao.org/volume-df).
Finally, Predictoor data feeds are promising, since they have good baseline volume due to Predictoor DF.
</details>
@ -280,19 +228,60 @@ However, your voting power is counted progressively throughout the week and requ
</details>
<details>
<summary>Are there any risks associated with Active Rewards?</summary>
<summary>Where do I learn more about Volume DF?</summary>
When it comes to active staking, you aren't exposed to additional risks. Your veOCEAN remain securely locked, and your role is to curate datasets by allocating them.
In its [docs page](volumedf.md).
</details>
As with any system, inherent risks exist. In terms of the liquidity you provide, rest assured that we have implemented battle-tested contracts, protecting assets worth billions, including veCRV. With this model, there is no liquidity risk, and you are shielded from losing your OCEAN due to Impermanent Loss (IL); your OCEAN are held securely in lock.
### Challenge DF
More info [here](user-guides/how-to-volumedf.md).
<details>
<summary>Where do I learn more about Challenge DF?</summary>
In its [docs page](challengedf.md).
</details>
### Predictoor DF
<details>
<summary>Where do I learn more about Predictoor DF?</summary>
In its [docs page](predictoordf.md).
</details>
### Parameters & Stats
<details>
<summary>Where can I find the veOCEAN and DF contracts?</summary>
They are deployed on the Ethereum mainnet, alongside other Ocean contract deployments. [Here](https://github.com/oceanprotocol/contracts/blob/main/addresses/address.json) is the full list of contract deployments.
</details>
<details>
<summary>What % of OCEAN is currently locked?</summary>
[autobotocean.com](https://autobotocean.com/veOcean) has those stats, and more.
</details>
<details>
<summary>Is there a way to check the duration and amounts of OCEAN locked on-chain for all wallets?</summary>
Yes, this information is available. Indeed, there is a technical aspect involved. You'll need to have some technical knowledge because you'll be required to query the subgraph. You can find a working example of how to get the list of holders [in the subgraph documentation](../developers/subgraph/get-veocean-stats#get-the-veocean-holders-list). Feel free to run the script by clicking on the "run" button.
</details>
### Parameters & Stats
<details>
<summary>What is the official veOCEAN epoch start_time?</summary>
@ -301,36 +290,6 @@ veFeeDistributor has a start\_time of 1663804800 (Thu Sep 22 2022 00:00:00).
</details>
<details>
## Notes
<summary>Where can I find the veOCEAN and DF contracts?</summary>
They are deployed on the Ethereum mainnet, alongside other Ocean contract deployments. You can find the [full list of contracts here](https://github.com/oceanprotocol/contracts/blob/main/addresses/address.json).
</details>
<details>
<summary>Can the reward function change during a given week?</summary>
No. At the beginning of a new DF round (DF1, DF2, etc.), rules are laid out, either implicitly if no change from the previous round, or explicitly in a blog post if there are new rules. This is: reward function, bounds, etc. Then teams stake, buy data, consume, etc. LPs are given DF rewards based on staking, DCV, etc. at the end of the week. Overall cycle time is one week.
Caveat: it’s no at least in theory! Sometimes there may be tweaks if there is community consensus or a bug.
</details>
<details>
<summary>What is the percentage of tokens currently staked?</summary>
You can find the statistics for the number of locked tokens [here](https://autobotocean.com/veOcean). As of September 2023, there are approximately 700 million OCEAN in circulation, out of which approximately 30 million have been locked. ⁣
</details>
<details>
<summary>Is there a way to check the duration and amounts of veOCEAN locked on-chain for all wallets?</summary>
Yes, this information is available. Indeed, there is a technical aspect involved. You'll need to have some technical knowledge because you'll be required to query the subgraph. You can find a working example of how to get the list of holders [in the subgraph documentation](../developers/subgraph/get-veocean-stats#get-the-veocean-holders-list). Feel free to run the script by clicking on the "run" button.
</details>
[1] The initial version of Data Farming - in DF Alpha phase (DF1-DF4) - _did_ involve providing liquidity to datatoken pools, and therefore did incur risk of Impermanent Loss (IL). For this reason and others, we moved away from pools, to veOCEAN for the DF/VE Alpha phase and beyond (>=DF5). Therefore there has been no IL risk since then. [Here are details](https://blog.oceanprotocol.com/veocean-is-launching-data-farming-is-resuming-abed779211e3).

65
data-farming/veocean-passivedf.md
View File

@ -11,6 +11,7 @@ description: >-
- [About veOCEAN and Passive DF](#about-veocean-and-passive-df)
- [User Guide to veOCEAN and Passive DF](#user-guide-to-veocean-and-passive-df)
- [veOCEAN and Liquid Staking](#veocean-and-liquid-staking)
# About veOCEAN and Passive DF
@ -104,29 +105,17 @@ 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.
### Tradeability of veOCEAN; Relation to psdnOCEAN
### Background of veOCEAN Idea
Q: Are veOCEAN tradeable or have a market price?
It's been a long-held goal to reconcile near-term and long-term incentives. This is not an easy task.
OCEAN has a market price; it's [available](https://www.oceanprotocol.com/ocean-token) on many exchanges.
Curve Finance's [veCRV](https://curve.readthedocs.io/dao-fees.html) was one of the first to do a great job at this, and have high usage and liquidity. So, [veOCEAN contracts](https://github.com/oceanprotocol/contracts/tree/main/contracts/ve) use veCRV code.
Once you lock OCEAN, you get veOCEAN. Unlike OCEAN, veOCEAN cannot be traded or transferred. However, you can [delegate](delegate.md) veOCEAN to others, who then controls allocation to data assets and receives rewards.
### veOCEAN Contract Security
There's also the [psdnOCEAN](https://www.coingecko.com/en/coins/poseidon-ocean) option. psdnOCEAN is an ERC20-compliant "liquid staking derivative" [contract](https://etherscan.io/token/0x51fa2efd62ee56a493f24ae963eace7d0051929e) that in turn holds veOCEAN. psdnOCEAN is a product by [H2O](https://www.h2odata.xyz//), a team separate from - though collaborating with - the Ocean core team.
- You can lock OCEAN for psdnOCEAN via [the H2O "convert" dapp](https://liquid-staking.h2odata.xyz/convert/ocean).
- psdnOCEAN can be traded in exchanges like the [OCEAN-psdnOCEAN Balancer pool](https://app.balancer.fi/#/ethereum/swap?outputCurrency=0x51Fa2efd62ee56a493f24AE963eAce7D0051929E). ⚠️Be careful - if liquidity is low you will experience high slippage.
veOCEAN core contracts have zero changes to veCRV code, on purpose: the veCRV contracts have been battle-tested since inception (2020). 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).
### Where the heck did we get this idea from?
The "veTokenomics" model of veOCEAN (vote-escrowed token economics) is inspired by Curve Finance's [veCRV](https://curve.readthedocs.io/dao-fees.html) token code. We took this inspiration to enable our users to participate in on-chain governance and earn rewards within the Ocean Protocol ecosystem.
[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 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 built [a new contract](https://github.com/oceanprotocol/contracts/blob/main/contracts/ve/veAllocate.sol) for users to allocate their veOCEAN towards data assets. 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.
@ -178,3 +167,43 @@ In this step you will:
- Accept the transaction in your wallet.
Congratulations! You have now locked your OCEAN for veOCEAN and are generating passive yield automatically. You can [claim your passive OCEAN rewards](how-to-claim-rewards.md) every Thursday - note that your first time claiming rewards will require at least one week, but not more than 2 weeks of wait!
----
# veOCEAN and Liquid Staking
### veOCEAN is not Tradeable
Once you lock OCEAN, you get veOCEAN.
Unlike OCEAN, veOCEAN cannot be traded or transferred.
However, you can [delegate](delegate.md) veOCEAN to others, who then controls allocation to data assets and receives rewards.
psdnOCEAN offers interesting optionality; see next section.
### psdnOCEAN Liquid Staking
While you can't trade veOCEAN, you can trade psdnOCEAN.
Specifically, psdnOCEAN is a "liquid staking wrapper" for veOCEAN:
- It holds veOCEAN
- And it allows transfers (using ERC20 interface)
Converting OCEAN <> psdnOCEAN:
- You can lock OCEAN for psdnOCEAN via [the H2O "convert" dapp](https://liquid-staking.h2odata.xyz/convert/ocean).
- psdnOCEAN can be traded in exchanges. The main option is the [OCEAN-psdnOCEAN Balancer pool](https://app.balancer.fi/#/ethereum/swap?outputCurrency=0x51Fa2efd62ee56a493f24AE963eAce7D0051929E). [Here are pool details.](https://app.balancer.fi/#/ethereum/pool/0xf8c4cd95c7496cb7c8d97202cf7e5b8da2204c2b00020000000000000000039e). ⚠️Be careful - if liquidity is low you will experience high slippage.
Rewards to psdnOCEAN holders:
- Since psdnOCEAN holds veOCEAN, then Passive DF rewards go to that psdnOCEAN-held veOCEAN according to the usual Passive DF rules.
- Over time, psdnOCEAN may also get rewards from other DF streams or protocols too.
Details:
- psdnOCEAN is a product by [H2O](https://www.h2odata.xyz//), a team separate from - and collaborating with - the Ocean core team.
- [Here's](https://blog.oceanprotocol.com/psdnocean-the-first-liquid-staking-wrapper-by-the-h2o-team-is-now-live-a3330e15fa5c) the original psdnOCEAN announcement.
- psdnOCEAN on...
- [Etherscan](https://etherscan.io/token/0x51fa2efd62ee56a493f24ae963eace7d0051929e)
- [CoinGecko](https://www.coingecko.com/en/coins/poseidon-ocean)
- [GeckoTerminal](https://www.geckoterminal.com/eth/pools/0xf8c4cd95c7496cb7c8d97202cf7e5b8da2204c2b)