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* [Contributor Code of Conduct](core-concepts/code-of-conduct.md)
* [Legal Requirements](core-concepts/legal-reqs.md)
* [Projects using Ocean Protocol](building-with-ocean/projects-using-ocean.md)
* [veOCEAN](veOcean/veOcean.md)
* [veOCEAN & Data Farming](veOcean/README.md)
* [veOCEAN](veOcean/veOcean.md)
* [Data Farming Intro](veOcean/data-farming-intro.md)
* [Data Farming Advanced](veOcean/data-farming.md)
* [Emissions & APYs](veOcean/emissions-apys.md)
* [Contracts & Formuls](veOcean/definitions.md)
* [FAQ](veOcean/faq.md)
* [Rewards](rewards/veOcean-Data-Farming-Tutorial.md)
* [Tutorials](rewards/veOcean-Data-Farming-Tutorial.md)
* [API References](api-references/README.md)
* [Aquarius REST API](api-references/aquarius-rest-api.md)
* [Provider REST API](api-references/provider-rest-api.md)

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# veOCEAN & Data Farming

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## Contract Deployments
The [veOCEAN & DF contracts](https://github.com/oceanprotocol/contracts/tree/main/contracts/ve) are deployed to Ethereum mainnet, alongside other Ocean contract deployments. [Full list](https://github.com/oceanprotocol/contracts/blob/main/addresses/address.json).
veFeeDistributor has a start_time of 1663804800 (Thu Sep 22 2022 00:00:00)
## Formulas
### veOcean
**veOCEAN Linear Decay**
```
veOcean_balance = OCEAN_amount_locked * (your_unlock_timestamp — current_unix_timestamp ) / 60 * 60 * 24 * 7 * 52 (that is 4 years)
```

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## On Claiming DF Rewards
How to claim? Go to the DF Webapp at [df.oceandao.org/activerewards](df.oceandao.org/activerewards)
@ -10,7 +9,6 @@ When to claim? There are fresh rewards available every Thursday. If you wish, yo
When to do a first claim? From the time you lock OCEAN, you must wait at least a week, and up to two weeks, to be able to claim rewards. The nerdy version: if you lock OCEAN on day x, youll be able to claim rewards on the first weekly ve “epoch” that begins after day x+7. This behavior is inherited from [veCRV](https://curve.readthedocs.io/dao-fees.html); [heres the code](https://github.com/oceanprotocol/contracts/blob/main/contracts/ve/veFeeDistributor.vy#L240-L256).
## Data Assets that Qualify for DF
Data assets that have veOCEAN allocated towards them get DF rewards.
@ -18,10 +16,9 @@ Data assets that have veOCEAN allocated towards them get DF rewards.
The data asset may be of any type — dataset (for static URIs) or algorithm for Compute-to-Data. The data asset may be fixed price or free price. If fixed price, any token of exchange is alright (OCEAN, H2O, USDC, ..).
To qualify for DF, a data asset must also:
Have been created by Ocean smart contracts, [deployed](https://github.com/oceanprotocol/contracts/blob/v4main/addresses/address.json) by OPF to [production networks](https://docs.oceanprotocol.com/core-concepts/networks)
Be visible on [Ocean Market](https://market.oceanprotocol.com/)
Cant be in [purgatory](https://github.com/oceanprotocol/list-purgatory/blob/main/policies/README.md)
- Have been created by Ocean Smart contracts [deployed](https://github.com/oceanprotocol/contracts/blob/v4main/addresses/address.json) by OPF to [production networks](https://docs.oceanprotocol.com/core-concepts/networks)
- Be visible on [Ocean Market](https://market.oceanprotocol.com/)
- Cant be in [purgatory](https://github.com/oceanprotocol/list-purgatory/blob/main/policies/README.md)
## Active Work to Drive APY

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# Emissions & APYs
With veOCEAN, OceanDAO evolves to be more like CurveDAO:
- ve is at the heart with v = voting (in data asset curation) and e = escrowed (locked) OCEAN. The longer the lockup, the more voting and rewards, which reconciles near- and long-term DAO incentives.
- The DAO has increased bias to automation, and to minimizing the governance attack surface. The 143.8M OCEAN that was originally earmarked for a DAO treasury will go into DF instead. And, 143.8M OCEAN earmarked for grants will go to DF (>21.5M OCEAN remains for grants). This is on top of 215.7M OCEAN previously allocated . Therefore DF now has 503.4M OCEAN allocated; this is 35.7% of total OCEAN supply (1.41B OCEAN).
The baseline emissions schedule determines the weekly OCEAN budget for this phase. The schedule is like Bitcoin, 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)

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# Data Farming FAQ
_Q: When exactly does counting start and finish, for a given week_
The counting starts at 12.01am on Thursday, and ends at 11.59pm on the following Wednesday.
_Q: I staked for just one day. What rewards might I expect?_
At least 50 snapshots are randomly taken throughout the week. If youve staked just one day, and all else being equal, you should expect 1/7 the rewards compared to the full 7 days.
_Q: The datatoken price may change throughout the week. What price is taken in the DCV calculation?_
The price is taken at the same time as each consume. E.g. if a data asset has three consumes, where price was 1 OCEAN when the first consume happened, and the price was 10 OCEAN when the other consumes happened, then the total DCV for the asset is 1 + 10 + 10 = 21.
_Q: Can the reward function change during a given week?_
No. At the beginning of a new DF round (DF1, DF2, etc), rules are laid out, either implicitly if no change from 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. And LPs are given DF rewards based on staking, DCV, etc at the end of the week. Overall cycle time is one week.
Caveat: its no at least in theory! Sometimes there may be tweaks if there is community consensus, or a bug.
# Staking FAQs
_Q: What about passive stakers — people who just want to stake in one place and be done?_
A: Earnings are passive by default
_Q: What about active stakers — people who want to do extra work and get rewarded?_
A: Ot works. Half the DF revenue goes to veOCEAN stake that users can allocate. Allocate well → more $$
# Third-Party Market FAQs
_Q: What do you think could be the monetization / incentive options for third party dApps and Data Markets that build on top of OCEAN?_
A: People pay fees on fixed-rate exchange and in consume. 3rd party markets can get a cut of both. More info at Ocean docs.
_Q: Staking veOCEAN will be an important part in curating the most valuable datasets. Which earning opportunities will stakers have other than DF and fees generated from consume transactions?_
A: veOCEAN holders earning potential via fees and DF on their own could be quite substantial, eg given that a large portion of OCEAN supply is directed towards DF. No need for more ways per se. There wont be a fee on locking OCEAN for veOCEAN, because adding that code would have meant changes to veCRV contracts, something were not doing for security reasons. Re ALGA or other apps making money on facilitating veOCEAN: there are several ways, the best way to get inspiration is to look at projects on top of base ve tokens, such as Convex, Aura, Redacted Cartel, and more.
# Pricing FAQs
_Q: In this scheme, can people stake on fixed-price datasets?_
A: Yes. They allocate their veOCEAN to datasets. Then DF rewards follow the usual DF formula: DCV * veOCEAN stake.
_Q: Does this work for other pricing schemes?_
A: Yes, from the get-go! It doesnt matter how data is priced, this works for all schemes.
_Q: With pools getting wound down in Ocean Market, will fixed-price be its only pricing scheme?_
A: For now in Ocean Market, yes. However people can price datatokens however they like, leveraging whatever DeFi tools they like. For example. do an IDO via Liquidity Bootstrapping Pool, ending up in an unmodified Balancer AMM. And we will continue listening to the community, to understand best where to focus our efforts.
# Chains FAQ
Chains
_Q: Will the Market still need to be multi-chain?_
A: Yes, Ocean Market still needs to be multi-chain: all the reasons that we went multi-chain for are as valid as ever.
_Q: Which chain will veOCEAN be deployed on?_
A: Current plan is for veOCEAN core contracts will only be on Ethereum mainnet, and allowing to allocate veOCEAN tokens to any chain.
_Q: Which chain should fixed price assets be deployed now in order to be ready for veOCEAN deployment and DF in 3 months time?_
A: You can publish assets to any chain that Ocean supports.

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# veOCEAN
veOCEAN is a fork of veCRV and uses the same parameters. Nearly 500 million USD is locked across all forks of veCRV, with the leading DeFi protocols adopting this standard. By leveraging this, Ocean Protocol takes one step further towards decentralization by streaming incentives towards contributors that are aligned with delivering fundamental protocol traction.
veOCEAN stands for “vote escrowed” OCEAN. By holding veOCEAN you become a governance participant, eligible to receive rewards and engage with many different protocol mechanisms.
The amount of reward depends on how long the tokens are locked for. You must lock up your OCEAN into the vault for to obtain veOCEAN. Going forward, veOCEAN will be the main mechanism for staking OCEAN, and for curation of datasets.
After creating your lock you will be credited veOCEAN. We sometimes refer to veOCEAN as your “voting power”.
**WARNING:** You will not be able to retrieve your original OCEAN deposit until the lock ends.
## What can I do with veOCEAN?
veOCEAN allows you to engage with the protocol and benefit from the reward programs available.
There are 4 things you can do with veOCEAN.
1. **Hold it.** veOCEAN pays **Passive Rewards** every week.
2. **Allocate it.** veOCEAN pays **Active Rewards** every week to the top performing Datasets, Algorithms, dApps, and more.
3. **Delegate it.** You can delegate veOCEAN to other Data Farmers who can curate Datasets for you. In return for their services, these farmers may charge you a fee for helping you receive APY on **Active Rewards**. The Delegate feature has just been recently released and enables veOCEAN holders to more easily access rewards.
4. **2x Boost.** If you are a publisher, allocating veOCEAN to your own Dataset gives your veOCEAN a 2x Boost. This is an incentive for publishers to engage with their assets and benefit from from the protocol further.
## What is time locking?
Users can lock their OCEAN for different lengths of time to gain voting power. Our app is configured to lock OCEAN for a minimum of 2 weeks and a maximum of four years for max benefit.
Users that lock their OCEAN for a longer period of time receive more veOCEAN to reflect their conviction in the system.
| Year | Lock Multiplier | veOCEAN |
| ---- | ----------| ------- |
| 1 | 0.25x | 0.25 |
| 2 | 0.50x | 0.50 |
| 3 | 0.75x | 0.75 |
| 4 | 1.00x | 1.00 |
_The Lock Multiplier. Amount of veOCEAN received per OCEAN locked._
If youve locked OCEAN for 4 years, you will be unable to retrieve your deposit until this time expires.
After choosing your lock period and locking up your OCEAN into the vault, you will be credited with veOCEAN.
veOCEAN is non-transferable. You cant sell it or send it to other addresses.
## Linear Decay
Your veOCEAN balance will slowly start declining as soon as you receive it.
veOCEAN balance decreases linearly over time until the Lock End Date. When your lock time has lapsed by 50%, you will have 50% of your original veOCEAN balance.
When your lock time ends your veOCEAN balance will hit 0, and your OCEAN tokens can be withdrawn.
If you lock 1.0 OCEAN for 4 years, you get 1.0 veOCEAN at the start.
| Years Passed | veOCEAN Left |
| ---- | ---- |
| 1 year | 0.75 |
| 2 years | 0.50 |
| 3 years | 0.25 |
| 4 years | 0.00 |
At the end of your 4 years, your OCEAN is unlocked. [1]
## Replenishing your veOCEAN
You can choose to update your lock and replenish your veOCEAN balance at any time.
To maximize rewards, participants would need to update their 4-year lock every week in order to maintain their veOCEAN balance as high as possible.
## veOCEAN Earnings
All earnings for veOCEAN holders are claimable in Ethereum mainnet. (Data assets for DF may published in any network where Oceans deployed in production: Eth mainnet, Polygon, etc.)
Theres a new DF round every week; in line with this, theres a new ve distribution “epoch” every week. This affects when you can first claim rewards. Specifically, if you lock OCEAN on day x, youll 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. Heres the code. )
veOCEAN holders have earnings from two sources:
### Earnings from Community Fees
Every transaction in Ocean Market and Ocean backend generates transaction fees, some of which go to the community. 50% of the community fees will go to veOCEAN holders; the rest will go to Ocean community-oriented traction programs.
All earnings here are passive.
### Earnings from Data Farming
veOCEAN holders will each get weekly DF rewards allocation, except a small carveout for any Data Challenge initiatives that may run through DF ops.
**veOCEAN holders can be passive, though they will earn more if active.**
“Being active” means allocating veOCEAN to promising data assets (data NFTs). Then, rewards follow the usual DF formula: DCV * stake. Stake is the amount of veOCEAN allocated to the data asset. There is no liquidity locked inside a datatoken pool. (And this stake is safe: you cant lose your OCEAN as it is merely locked.)
## Flow of Value
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 theres 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.
![](./images/flow_of_value.png)
_Flow of Value_
The veOCEAN design is in accordance with the Web3 Sustainability Loop, which Ocean uses as its system-level design.
The veOCEAN code was forked from the veCRV code. veCRV parameters will be the starting point. To minimize risk, tweaks will be circumspect.
This is the current design. We expect changes based on feedback from the community, and learnings during implementation.
## 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 for two years and have not had security issues.
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.

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## Contract Deployments
The [veOCEAN & DF contracts](https://github.com/oceanprotocol/contracts/tree/main/contracts/ve) are deployed to Ethereum mainnet, alongside other Ocean contract deployments. [Full list](https://github.com/oceanprotocol/contracts/blob/main/addresses/address.json).
```
{
“veOCEAN”: “0xE86Bf3B0D3a20444DE7c78932ACe6e5EfFE92379”,
“veAllocate”: “0x55567E038b0a50283084ae773FA433a5029822d3”,
“veDelegation”: “0xc768eDF2d21fe00ef5804A7Caa775E877e65A70E”,
“veFeeDistributor”: “0x256c54219816603BB8327F9019533B020a76e936”,
“veDelegationProxy”: “0x45E3BEc7D139Cd8Ed7FeB161F3B094688ddB0c20”,
“veFeeEstimate”: “0xe97a787420eD263583689Bd35B7Db1952A94710d”,
“SmartWalletChecker”: “0xd7ddf62257A41cc6cdAd7A3d36e4f1d925fD142a”,
“DFRewards”: “0xFe27534EA0c016634b2DaA97Ae3eF43fEe71EEB0”,
“DFStrategyV1”: “0x545138e8D76C304C916B1261B3f6c446fe4f63e3”,
}
```
veFeeDistributor has a start_time of 1663804800 (Thu Sep 22 2022 00:00:00)
## Formulas
### veOcean
**veOCEAN Liner Decay**
```
veOcean_balance = OCEAN_amount_locked * (your_unlock_timestamp — current_unix_timestamp ) / 60 * 60 * 24 * 7 * 52 (that is 4 years)
```

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# Data Farming FAQ
_Q: I staked for just one day. What rewards might I expect?_
At least 50 snapshots are randomly taken throughout the week. If youve staked just one day, and all else being equal, you should expect 1/7 the rewards compared to the full 7 days.
_Q: The datatoken price may change throughout the week. What price is taken in the DCV calculation?_
The price is taken at the same time as each consume. E.g. if a data asset has three consumes, where price was 1 OCEAN when the first consume happened, and the price was 10 OCEAN when the other consumes happened, then the total DCV for the asset is 1 + 10 + 10 = 21.
_Q: Can the reward function change during a given week?
No. At the beginning of a new DF round (DF1, DF2, etc), rules are laid out, either implicitly if no change from 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. And LPs are given DF rewards based on staking, DCV, etc at the end of the week. Overall cycle time is one week.
Caveat: its no at least in theory! Sometimes there may be tweaks if there is community consensus, or a bug.

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# veOCEAN
veOCEAN is a fork of veCRV and uses the same parameters. Nearly 500 million USD is locked across all forks of veCRV, with the leading DeFi protocols adopting this standard. By leveraging this, Ocean Protocol takes one step further towards decentralization by streaming incentives towards contributors that are aligned with delivering fundamental protocol traction.
veOCEAN stands for “vote escrowed” OCEAN. By holding veOCEAN you become a governance participant, eligible to receive rewards and engage with many different protocol mechanisms.
You must lock up your OCEAN into the vault for to obtain veOCEAN.
After creating your lock you will be credited veOCEAN. We sometimes refer to veOCEAN as your “voting power”.
**WARNING:** You will not be able to retrieve your original OCEAN deposit until the lock ends.
## What is time locking?
Users can lock their OCEAN for different lengths of time to gain voting power. Our app is configured to lock OCEAN for a minimum of 2 weeks and a maximum of four years for max benefit.
Users that lock their OCEAN for a longer period of time receive more veOCEAN to reflect their conviction in the system.
| Year | Lock Multiplier | veOCEAN |
| ---- | ----------| ------- |
| 1 | 0.25x | 0.25 |
| 2 | 0.50x | 0.50 |
| 3 | 0.75x | 0.75 |
| 4 | 1.00x | 1.00 |
_The Lock Multiplier. Amount of veOCEAN received per OCEAN locked._
If youve locked OCEAN for 4 years, you will be unable to retrieve your deposit until this time expires.
After choosing your lock period and locking up your OCEAN into the vault, you will be credited with veOCEAN.
veOCEAN is non-transferable. You cant sell it or send it to other addresses.
## Linear Decay
Your veOCEAN balance will slowly start declining as soon as you receive it.
veOCEAN balance decreases linearly over time until the Lock End Date. When your lock time has lapsed by 50%, you will have 50% of your original veOCEAN balance.
When your lock time ends your veOCEAN balance will hit 0, and your OCEAN tokens can be withdrawn.
If you lock 1.0 OCEAN for 4 years, you get 1.0 veOCEAN at the start.
| Years Passed | veOCEAN Left |
| ---- | ---- |
| 1 year | 0.75 |
| 2 years | 0.50 |
| 3 years | 0.25 |
| 4 years | 0.00 |
At the end of your 4 years, your OCEAN is unlocked [1]
## Replenishing your veOCEAN
You can choose to update your lock and replenish your veOCEAN balance at any time.
To maximize rewards, participants would need to update their 4-year lock every week in order to maintain their veOCEAN balance as high as possible.
## What can I do with veOCEAN?
veOCEAN allows you to engage with the protocol and benefit from the reward programs available.
There are 4 things you can do with veOCEAN.
1. **Hold it.** veOCEAN pays **Passive Rewards** every week.
2. **Allocate it.** veOCEAN pays **Active Rewards** every week to the top performing Datasets, Algorithms, dApps, and more.
3. **Delegate it.** You can delegate veOCEAN to other Data Farmers who can curate Datasets for you. In return for their services, these farmers may charge you a fee for helping you receive APY on **Active Rewards**. The Delegate feature has just been recently released and enables veOCEAN holders to more easily access rewards.
4. **2x Boost.** If you are a publisher, allocating veOCEAN to your own Dataset gives your veOCEAN a 2x Boost. This is an incentive for publishers to engage with their assets and benefit from from the protocol further.