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50 lines
2.4 KiB
Markdown
50 lines
2.4 KiB
Markdown
---
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description: Get veOCEAN to use the Data Farming dApp and make yield! 🧑🌾🥕
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---
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<figure><img src="../../.gitbook/assets/gif/aquaman-gold.gif" alt="" width="250"><figcaption><p>Get your gold. Get your veOCEAN</p></figcaption></figure>
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# What is veOCEAN and Passive Rewards
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In order to **gain yield Data Farming**, you will need to lock your OCEAN first! When you lock your OCEAN, you get **veOCEAN** and **weekly passive OCEAN rewards** in return. veOCEAN is a token used in Ocean Protocol's Data Farming dApp to **generate even more yield,** called **Volume DF rewards**, for allocating your veOCEAN to your favorite assets and get a portion of their sales!
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### Don't have OCEAN yet? Get those first!
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#### Step 1 - Get OCEAN
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- Acquire OCEAN via a decentralized exchange (DEX) such as Uniswap or a centralized exchange (CEX) such as Binance, Coinbase, etc.
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#### Step 2 - Send to your self-custody wallet
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- Send your OCEAN to a self-custody wallet of yours that supports ERC-20 tokens, like Metamask for example.
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### Where the rubber meets the road 🚗💨
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Not much of a reader? Watch and learn, friend
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{% embed url="https://www.youtube.com/watch?v=zAQlPHkK3og" fullWidth="false" %}
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Watch and learn, friend
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{% endembed %}
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#### Step 3 - Go to Ocean Protocol's Data Farming dApp
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- Go to [https://df.oceandao.org/](https://df.oceandao.org/)
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#### Step 4 - Connect Your Wallet + Lock your OCEAN for veOCEAN
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- Click on the purple circles in the interactive demo to walk through the steps for locking your OCEAN for veOCEAN.
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{% embed url="https://app.arcade.software/share/FUSkygksSRsJHwle1zFs" fullWidth="false" %}
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{% endembed %}
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In this step you will:
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- Enter the amount of OCEAN that you are going to lock up
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- Select a Lock End Date indicating how many weeks you’re going to lock up your OCEAN. (As the Lock End Date goes farther into the future, your Lock Multiplier increases).
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- Click on the checkbox to agree to the disclaimer.
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- Click the pink “Approve # OCEAN” button
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- Accept the transaction in your wallet.
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- Click the “Create Lock” button.
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- Accept the transaction in your wallet.
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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! |