I discuss how to earn with the OCEAN crypto token to receive active and passive income by data farming and locking up your tokens.
You will need to purchase the OCEAN token on an exchange and transfer it over to your Metamask wallet.
Active Income - Locking your OCEAN - Intermediate
You will need to lock up your OCEAN for a minimum of two weeks to be able to receive veOCEAN. You will receive lock multiplier rewards for more time you lock. If you lock for 2 weeks you can always lock for longer but if you lock for 2 years you cannot change for something less.
Passive Income - Allocating to Datasets - Intermediate
Once you receive the veOCEAN you can now invest in the farms. You will need to research datasets and additional documentation from the Ocean protocol to find out the best way to earn in the farm. One strategy is to choose a few datasets to allocate your veOCEAN to and see which ones are performing better.
Chapters
0:00 Intro
0:18 Ocean Protocol Project Overview
3:47 Active Passive Income
*There are risks to staking and DeFi including vulnerabilities in people and in their code. Nothing is bullet proof, there are no guarantees, you are investing at your own risk and are responsible for your investment. None of the information in this video is financial advice. All of it is for educational purposes only. Please, also do your own research.
