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61 lines
2.9 KiB
Markdown
61 lines
2.9 KiB
Markdown
---
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description:
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---
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# OCEAN: The Ocean Token
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OCEAN is a utility token. It's used to stake on data for curation, buy & sell data, and more. Its supply is disbursed over time to drive near-term growth and long-term sustainability.
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**Contents:**
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- Getting and storing OCEAN
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- Staking OCEAN
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- OCEAN supply
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- Token design
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- OCEAN addresses
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<div align="center"><figure><img src="../.gitbook/assets/general/purchase-and-compute_and_ocean-network.png" width="60%"></figure></div>
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## Getting and Storing OCEAN
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OCEAN is available on most leading CEXes and DEXes. The [Ocean Token page at oceanprotocol.com](https://oceanprotocol.com/about-us/ocean-token) has details.
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The [Wallets User Guide](../user-guides/wallets/README.md) here in Ocean docs shows how to set up wallets and store OCEAN.
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## Staking OCEAN
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You can lock OCEAN and earn rewards via [Ocean Data Farming](../data-farming/README.md).
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## OCEAN supply
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Total # tokens: 1.41B. All tokens are minted; all control is [revoked](https://blog.oceanprotocol.com/control-over-the-ocean-contract-to-be-revoked-soon-overview-6c5b15be2db).
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OCEAN supply is divided as follows:
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- 51% (719.1M OCEAN) - to Data Farming and incentives programs. Distributed via vesting: burn-in period then 4-year half-life. For [Data Farming: Reward Schedule](../data-farming/reward-schedule.md) docs.
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- 15% (211.5M OCEAN) - to Ocean community (grants, more) and foundation operations.
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- 10% (141.0M OCEAN) - to the founding company, and in turn to its investors, employees & operations
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- 24% (338.4M OCEAN) - to token acquirors. This completed in early 2019. All acquiror vesting is complete as well.
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## OCEAN Token Design
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The system-level design of the OCEAN token is based on [The Web3 Sustainability Loop](https://blog.oceanprotocol.com/the-web3-sustainability-loop-b2a4097a36e), a general design pattern. The Ocean-specific version of this design is described in [section (7) of that same article](https://blog.oceanprotocol.com/the-web3-sustainability-loop-b2a4097a36e#e0f6).
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This design gives flexibility to adapt the Ocean products for traction and growth. The flexibility is due to the goal to "drive network revenue", subject to the constraints of the mission & values of Ocean Protocol.
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In the design, a % of revenue is used to buy back & burn OCEAN. The remaining % drives growth.
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<div align="center"><figure><img src="../.gitbook/assets/general/whirlpool.png" width="60%"></figure></div>
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## OCEAN on Networks
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The "root" OCEAN token is deployed on Ethereum mainnet with address [`0x967da4048cd07ab37855c090aaf366e4ce1b9f48`](https://etherscan.io/token/0x967da4048cd07ab37855c090aaf366e4ce1b9f48).
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The OCEAN token has bridges to several other chains. The [Networks docs](networks/README.md) give the address of OCEAN on each network, and how to get OCEAN on each of those networks.
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----
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_Next: [Networks](networks/README.md)_
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_Back: [What can you do with Ocean?](benefits.md)_
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