Data Farming DF1 Completed, DF2 Started

Stakers can claim rewards. DF2 counting has begun. DF2 runs June 23–30 2022.

Published in

Ocean Protocol

4 min readJul 24, 2023

[Originally published by @trentmc0 on Jun 24, 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 pool liquidity providers (LPs / stakers) for higher data consume volume (DCV) and stake.

DF Round 1 (DF1) is part of DF Alpha phase. DF1 counting started 12:01am Thu Jun 16, 2022, and ended 11:59pm Wed Jun 22, 2022 (one week later). 10K OCEAN worth of rewards were computed and sent to the claims contracts. LPs can now claim rewards at the DF webapp.

DF Round 2 (DF2) is also part of DF Alpha phase. DF2 counting started 12:01am Thu Jun 23, 2022, and will end on 11:59pm Wed Jun 29, 2022. 10K OCEAN worth of rewards is available.

The rest of this post describes how to claim rewards, then details on DF1 and DF2.

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:)

In DF1, only Polygon and EWC had nonzero DCV, therefore rewards only went to those networks.

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. DF1 Input Parameters

DF1 is the first week of DF overall 🥳. This also makes it the first week of the the DF Alpha phase. 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.

The DF launch post “Ocean Data Farming is Launching” included DF1’s parameters. Then, “Ocean Data Farming Examples: DF1” provided examples to better understand earnings, against the DF1 rewards formula and related settings.

4. DF2 Input Parameters

The rewards formula and related settings for DF2 are the same as for DF1.

This may not always be the case: we can expect round-to-round evolution of the Reward Function and related settings, based on learnings.

5. DF1 Output Stats

OceanONDA V4 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 and EWC had nonzero DCV in DF1, so we focus on those.

Exchange rate was 0.180514 OCEAN/USD, taken from Binance API.

Total Stake (averaged across 7 days). Polygon 656633.20 OCEAN, EWC 3926.94 OCEAN, total 660560.14 OCEAN (119240.35 USD). Stake grew through the week, from about 100K OCEAN to >1M OCEAN.
Total DCV (total across 7 days). Polygon 750.51 OCEAN, EWC 2.30 OCEAN, total 752.81 OCEAN (135.89 USD).
OCEAN rewarded to LPs. Polygon 9998.11, EWC 1.89, total 10000 OCEAN

Rewards Stats. Rewards were dispensed to 103 LPs. The largest reward was 2715.05 OCEAN, the smallest 0.0058 OCEAN, average 97.09 OCEAN, median 6.89 OCEAN. The images below visualize this, where the y-axis is amount distributed in linear or log scale.

For more info yet, see the DF1 csvs published as a free asset in Ocean Market.

6. Max APY means active work

Data Farming is not a wholly passive activity. The name of the game is to drive data consume volume (DCV). High APYs happen only when there is sufficiently high DCV. High DCV means publishing and consuming truly useful datasets (or algorithms).

Thus, if you really want to max out your APY:

create & publish datasets — or work with people who can
consume them — or work with people who can
go stake on them, and finally claim the rewards.

Driving DCV for publishing & consuming is your challenge. It will take real work. And then the reward is APY. It’s incentives all the way down:)

7. Conclusion

DF1 has completed! DF2 counting has begun. To claim DF1 rewards, go to DF webapp Claim Portal.