Data Farming DF4 Completed
Stakers can claim DF4 rewards. DF5 will start when veOCEAN ships.
[Originally published by @trentmc0 on Jul 14, 2022. We’ve re-published to @TeamOcean to better organize archival posts. Please treat the article as if it was published on its original date.]
1. Overview
The Ocean Data Farming program incentivizes for growth of data consume volume in the Ocean ecosystem. It rewards OCEAN to data asset stakers for higher data consume volume (DCV) and stake.
DF Round 4 (DF4) is part of DF Alpha phase. DF4 counting started 12:01am Thu Jul 7, 2022, and ended 12:01am Jul 12, 2022. 10K OCEAN worth of rewards were available. LPs can now claim rewards at the DF webapp.
Catalyzed by recent events, veOCEAN will replace pools as the DF staking mechanism. DF will resume when veOCEAN is launched, within 3 months.
The rest of this post describes how to claim rewards, details on DF4, and plans going forward.
2. How To Claim Rewards
As an LP (staker), here’s how to claim rewards:
- Go to DF webapp Claim Portal
- Connect your wallet
- For each network with rewards (where you staked): select network, click “Claim”, sign the tx, get rewards:)
Rewards will accumulate over weeks, so you can claim rewards at your leisure. If you claim weekly, you can re-stake your rewards for compound gains.
3. DF4 Input Parameters
DF4 is the fourth week of DF overall, and fourth week of DF Alpha. DF Alpha runs 4 weeks, with 10K OCEAN rewards budgeted per week. DF Alpha’s aim is to test technology, learn, and onboard data publishers.
DF4 parameters were the same as DF1. The DF launch post “Ocean Data Farming is Launching” included these parameters.
4. Changes to Ocean Market and DF Schedule
Over the past weekend, Ocean pools encountered a new attack vector, where a malicious actor found a way to drain OCEAN from pools. The Ocean core team did near-term triage action to mitigate further attacks. This blog post has details. Because of this, DF counting was paused after 5 days, not the usual 7.
Beyond triage, the team updated its plans: Going forward, veOCEAN will be the main mechanism for staking OCEAN, for curation of datasets, and for Data Farming. It’s lower risk than Ocean datatoken pools to achieve similar functionality for staking and curation.
Pool functionality will be removed from Ocean Market. Data Farming is on pause, and will resume when veOCEAN launches, within 3 months. DF will pick up where it left off: in DF5, the first week of DF Beta.
4. DF4 Output Stats
Ocean currently supports five production networks: Ethereum Mainnet (chainid 1), Polygon (137), Binance Smart Chain (BSC: 56), Energy Web Chain (EWC: 246), and Moonriver (1285).
Only Polygon had nonzero DCV in DF1, so we focus on it.
Due to the attacks over days, volume and stake were winding down. Polygon stake averaged 1,090,424 OCEAN across many pools. However just just two pools had consumes totaling 7776 OCEAN stake (total DCV of 0.216 OCEAN).
With an upper bound APY of 125%, or weekly percent yield of 1.57%, then 122.21 OCEAN was dispensed as rewards. Put another way, the 10000 OCEAN available was not used up because there was not enough stake in the pools with volume. The rewards not dispensed remain in the OceanDAO treasury for future DF rewards or other community programs.
For more info yet, see the DF4 csvs published as a free asset in Ocean Market.
8. Conclusion
DF4 has completed. To claim DF3 rewards, go to DF webapp Claim Portal.
DF5 counting will begin when veOCEAN launches, within 3 months.
Further Reading
The post Ocean Data Farming Series collects together key articles, and related resources about DF.
