2.7 KiB
| description |
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| Simplify and Improve your Data Farming |
Delegate Allocation Power and Active Rewards
Why Delegate?
Have multiple wallets? Want to reduce your costs? Want to build a novel farming system?
We have a solution for that! Data Farming's Delegate feature allows you to transfer your veOCEAN Allocation Power to another wallet address.
By delegating your active rewards to a single address that more efficiently manages your allocation, you are able to earn a better annual percentage yield (APY). For all these reasons and more, then you might want to delegate - go to https://df.oceandao.org/delegate to make the magic happen ✨
When you delegate, you transfer 100% of your veOCEAN Allocation Power for a limited period. This means that you can manage your active participation without needing to reallocate or pay fees!
Note that if you delegate 100% of your Allocation Power, your allocations will not count until the delegation expires. The delegation expiration date is the same as your veOCEAN Lock End Date at the time of delegation. If necessary, you can extend your Lock End Date before delegating. You can also cancel your delegation at any time 💪.
Once delegated, rewards will be sent to the wallet address you delegated to. Then, the delegation receiver is in charge of your active rewards and is responsible for returning those back to you should you choose to do so.
Steps to Delegate
Follow these steps to delegate your veOCEAN:
- Go to the Data Farming dApp.
- Navigate to the Delegate page.
- Enter the wallet address you wish to delegate your active rewards to into the 'Receiver wallet address' field.
- Click the Delegate button and sign the transaction with your wallet. You can view information about your delegation in the My Delegations component.
- If you desire, the you can cancel the delegation to regain your allocation power before the delegation expires.
What if someone delegates active rewards to you?
If you receive veOCEAN allocation power from other wallets, then you will receive their active rewards. You cannot delegate the veOCEAN you received from delegates, only the veOCEAN you received from your lock.
