Data Farming DF3 Completed, DF4 Started
Stakers can claim DF3 rewards. DF4 counting has begun. DF4 runs July 7–14 2022
[Originally published by @trentmc0 on Jul 7, 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 3 (DF3) is part of DF Alpha phase. DF3 counting started 12:01am Thu Jun 30, 2022, and ended 11:59pm Wed Jul 6, 2022 (one week later). 10K OCEAN worth of rewards were available. LPs can now claim rewards at the DF webapp.
DF Round 4 (DF4) is also part of DF Alpha phase. DF3 counting started 12:01am Thu Jul 7, 2022, and will end on 11:59pm Wed Jul 13, 2022. 10K OCEAN worth of rewards is available.
The rest of this post describes how to claim rewards, then details on DF3 and DF4.
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. DF3 Input Parameters
DF3 is the third week of DF overall, and third 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.
DF3 parameters were the same as DF1. The DF launch post “Ocean Data Farming is Launching” included these parameters. Then, “Ocean Data Farming Examples: DF1” provided examples to better understand earnings, against the DF1 rewards formula and related settings.
We fixed a bug that affected results. In DF Launch and since, we’ve specified “APY ≤ 125% for each LP at each pool”. That is, the maximum possible reward for an LP in a given pool is bounded by the amount staked in that pool (amount staked * WPY, where WPY = 1.5717%). Up until the fix, we’d only been bounding APY globally (stake of all LPs at once), rather than locally ( per-LP per-pool). We caught this bug, and fixed it.
Practically speaking, this meant that 5570.59 OCEAN was dispensed, rather than the 10000.0 OCEAN available. This is because in the pools that had consume volume, stakers didn’t stake enough to hit the max rewards. In fact, of the >3M OCEAN staked in Ocean Market, >1M was staked on pools which had no consumes at all. The rewards not dispensed remain in the OceanDAO treasury for future DF rewards or other community programs.
4. DF4 Input Parameters
The rewards formula and related settings for DF4 are the same as for DF1-DF3.
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. DF3 Output Stats
OceanONDA V4 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 and EWC had nonzero DCV in DF1, so we focus on those.
Exchange rate was 0.1718 OCEAN/USD, taken from Binance API.
- Total Stake (averaged across 7 days). Polygon 1,691,705 OCEAN, EWC 3849 OCEAN, total 1,695,554 OCEAN ($291,296 USD).
- Total DCV (total across 7 days). Polygon 2253.3 OCEAN, EWC 2.30 OCEAN, total 2255.6 OCEAN ($387.51 USD).
- OCEAN rewarded to LPs. Polygon 5570.2 OCEAN, EWC 0.336 OCEAN, total 5570.59 OCEAN
Rewards Stats. Rewards were dispensed to 110 LPs. The largest reward was 1467.52 OCEAN, average 51.11 OCEAN, median 0.4401 OCEAN.
For more info yet, see the DF3 csvs published as a free asset in Ocean Market.
8. Conclusion
DF3 has completed. To claim DF3 rewards, go to DF webapp Claim Portal.
DF4 counting has begun.
Further Reading
The post Ocean Data Farming Series collects together key articles, and related resources about DF.
