mirror of
https://github.com/oceanprotocol/docs.git
synced 2024-11-01 15:55:34 +01:00
50 lines
2.4 KiB
Markdown
50 lines
2.4 KiB
Markdown
---
|
||
description: Get veOCEAN to use the Data Farming dApp and make yield! 🧑🌾🥕
|
||
---
|
||
|
||
<figure><img src="../../.gitbook/assets/gif/super-mario-coins.gif" alt="" width="250"><figcaption><p>Get veOCEAN</p></figcaption></figure>
|
||
|
||
# What is veOCEAN and Passive Rewards
|
||
|
||
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!
|
||
|
||
### Don't have OCEAN yet? Get those first!
|
||
|
||
#### Step 1 - Get OCEAN
|
||
|
||
- Acquire OCEAN via a decentralized exchange (DEX) such as Uniswap or a centralized exchange (CEX) such as Binance, Coinbase, etc.
|
||
|
||
#### Step 2 - Send to your self-custody wallet
|
||
|
||
- Send your OCEAN to a self-custody wallet of yours that supports ERC-20 tokens, like Metamask for example.
|
||
|
||
### Where the rubber meets the road 🚗💨
|
||
|
||
Not much of a reader? Watch and learn, friend
|
||
|
||
{% embed url="https://www.youtube.com/watch?v=zAQlPHkK3og" fullWidth="false" %}
|
||
Watch and learn, friend
|
||
{% endembed %}
|
||
|
||
#### Step 3 - Go to Ocean Protocol's Data Farming dApp
|
||
|
||
- Go to [https://df.oceandao.org/](https://df.oceandao.org/)
|
||
|
||
#### Step 4 - Connect Your Wallet + Lock your OCEAN for veOCEAN
|
||
|
||
- Click on the purple circles in the interactive demo to walk through the steps for locking your OCEAN for veOCEAN.
|
||
|
||
{% embed url="https://app.arcade.software/share/FUSkygksSRsJHwle1zFs" fullWidth="false" %}
|
||
{% endembed %}
|
||
|
||
In this step you will:
|
||
|
||
- Enter the amount of OCEAN that you are going to lock up
|
||
- 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).
|
||
- Click on the checkbox to agree to the disclaimer.
|
||
- Click the pink “Approve # OCEAN” button
|
||
- Accept the transaction in your wallet.
|
||
- Click the “Create Lock” button.
|
||
- 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! |