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Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

What is Data Farming and How You can Earn from it?

By Ahmiey | Crypto Mandys | 24 Feb 2023


Data Farming is an OCEAN Protocol program that incentivises you to publish and consume assets in the OCEAN Ecosystem. Data Farming will reward you with OCEAN  for allocating liquidity to curate data assets with the highest data consume volume - (The Ocean Protocol team ). Data farming is rolled out in phases that lasts a couple of days. The first Data Farm (DF1) was commenced on 16-06-2022 and gave out 10000 OCEAN in Active Rewards. If you want in on the action, Data Farm 26 (DF26) started yesterday  23 February 2023 and will remain open until Thursday  02 March 2023. In DF26 you will make profit by locking your OCEAN tokens  and holding veOCEAN tokens, of which you will earn 2X rewards  for publishing your own datasets and staking them. Your earnings  will be  as much as 100K $OCEAN for contributing towards data refinement of Data Farming and the Ocean Technology. You can also lock your OCEAN for varying periods from 2 weeks, 1 month, 6 months, 2 years and 4 years. When you lock your tokens,  you do not only benefit from the lock multiplier but you also earn rewards from your locked tokens. However, when you lock your tokens you will not be able to unlock them until the locked time lapses so please keep that in mind if you decide to commit to that.

As usual, this is not professional advice, always investigate, conduct your own research and trust no-one. Feel free to add on and correct in the comment section below.

 

Sources

(The Ocean Protocol team )Retrieved from https://blog.oceanprotocol.com/

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