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What is Data Farming?
Data Farming is Ocean Protocol's core incentive program that rewards participants to onboard the protocol and create value by using tools that help grow it further.
Data Farming participants earn OCEAN rewards across 2 main streams Passive Rewards and Active Rewards. Participants are able to receive rewards passively, actively, or both by engaging in a variety of activities.
Passive Rewards provides a way for all contributors to participate.
Active Rewards focuses on incentivizing the curation and publishing of high-quality data assets and DataNFTs within the Ocean Ecosystem.
We have used battle-tested contracts that safeguard billions (veCRV). With this model there is no liquidity risk. You can’t lose your OCEAN through Impermanent-Loss (IL). It is merely locked.
Introduction
Farming 101 introduces Data Farming, the various reward systems, how they work, and how to access them. By the end of the document, you should feel more familiar with Data Farming concepts and having a better idea of what subject you might want to learn about next.
User Guides
If you are looking for step-by-step tutorials on how to access the Data Farming program and complete different actions, head over to the Data Farming User Guides page.
veOCEAN
Learning about veOCEAN will help you answer the question "What is the purpose of veOCEAN?" and give insights on how veOCEAN (vote-escrowed OCEAN) is used inside of Ocean Protocol to help advance the protocol.
It may help for you to review the user guide on how to estimate APY to get a better idea for how long you'll want to lock your funds.
Passive Rewards
Passive Rewards is the first reward stream within Data Farming.
It's a fixed stream that focuses on incentivizing participants to easily onboard and help the protocol grow.
At a minimum, Data Farmers earn Passive Rewards for locking their OCEAN.
It is by-design, without the need for anyone to put in any significant effort. You simply need to lock your tokens for a period of time.
Passive Rewards offers a defined amount of rewards for each round that is divided amongst veOCEAN holders based on how much they hold.
Once your tokens are locked up, you can then learn how to claim rewards.
Active Rewards
Active Rewards is the second reward stream within Data Farming.
It's an evolving stream that focuses on driving fundamental traction and growth of the protocol.
For participants that are more engaged and want to increase their yield, the Active Rewards stream is broken down into multiple substreams.
This offers contributors a variety of ways to help Ocean Protocol grow and increase your Data Farming rewards:
- Volume DF
- Challenge DF
Curate Data with Volume DF
If you have locked your OCEAN tokens in exchange for veOCEAN, this is the ideal opportunity for you to utilize those veOCEAN tokens to earn higher yield.
You can learn about the design of Volume DF to learn about it's substreams. Here, curators earn rewards for curating datasets that are driving sales and helping Ocean Protocol achieve traction.
Once you're familiar with the concepts there, you can then read the following user guide on how to participate in Volume DF.
Delegate Curation
The Delegation docs will teach you about the concepts of delegating your veOCEAN allocation power to another wallet that will manage Volume DF for you.
You can then use the how to delegate user guide to follow the steps needed to successfully delegate.
Please note, once delegated, rewards will be sent to the wallet address you delegated to. The delegation receiver is in charge of managing your Allocation Power and cut from the rewards.
Predict with Challenge DF
In this substream, Data Scientists can win competitions by participating in Challenge DF. You will obtain overview of what it is, how it works, the rules, and other details.
Challenge DF requires participants to submit predictions as close to the price of ETH as possible in order to be in the top 3 participants to win rewards.
The user guide on how to Challenge DF will take you step-by-step through the process of submitting your algorithm into the competition.
Further Reading
Finally, if you want to continue expanding your knowledge on OCEAN token emissions, APY estimates, and get useful answers to some of the most common questions, you can read the following:
Emissions & APYs will provide you will information about how OCEAN will be released over time through the Data Farming program and provide you with APY studies.
Data Farming Background will provide you with a lot more information about Data Farming, how the program evolved, and explain detailed mechanisms of the program such as the Reward Function.
The FAQ answers many different questions about staking, chains, deployments, and other details that may be valuable to you.
Reference
All content within has been assembled via reference of the Ocean Data Farming Series, official Ocean Protocol github repositories, and Whitepapers.