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| Get veOCEAN tokens to use the Data Farming dApp and make yield! 🧑🌾🥕 |
Earn Passive Rewards with veOCEAN
What is Data Farming?
Data Farming is our dApp that generates yield for participants that curate and publish valuable assets in the Ocean ecosystem.
Get veOCEAN tokens
What is veOCEAN and why do you want it? 🌊
In order to gain yield Data Farming, you will need to lock your OCEAN tokens first! When you lock your OCEAN tokens, you get veOCEAN tokens 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 tokens to your favorite assets and get a portion of their sales!
Don't have OCEAN tokens yet? Get those first!
Step 1 - Get OCEAN tokens
- 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 tokens 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/
Step 4 - Connect Your Wallet + Lock your OCEAN for veOCEAN
- Click on the purple circles in our interactive demo to walk through the steps for locking your OCEAN tokens for veOCEAN tokens.
{% @arcade/embed flowId="FUSkygksSRsJHwle1zFs" url="https://app.arcade.software/share/FUSkygksSRsJHwle1zFs" %}
In this step you will:
- Enter the amount of OCEAN tokens that you are going to lock up
- Select a Lock End Date indicating how many weeks you’re going to lock up your OCEAN tokens. (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 tokens for veOCEAN tokens and are generating passive yield automatically. You can claim your passive OCEAN rewards every Thursday - note that your first time claiming rewards will require at least one week, but not more than 2 weeks of wait!