What is the OCEAN token used for?

How Ocean protocol uses the OCEAN token. Ocean Protocol is a project to build data markets. Every data market has it’s own ERC-20 token.

OCEAN token is


The utility and governance token of Ocean Protocol.

OCEAN token is used for


  • Governance of the protocol
  • Staking on Data markets
  • Fees
  • Fund projects over time

How could value accrue to the OCEAN token?


Locking

  • Staking on data markets for OCEAN rewards and fees.

What is Ocean Protocol?


Ocean Protocol is a project to build data markets. Every data market has it’s own ERC-20 token and is traded against the token.

How Ocean Protocol works


A data publisher creates a datatoken with OCEAN as the base pair. Token holders stake on datamarkets to earn trading fees.

3 Layers of Ocean Protocol

  • The lowest level has the smart contracts.
  • Below libraries used by the applications. Ocean, Python, Javascript.
  • Top layer has applications like Ocean Market.

In Ocean Market

  • Onboard data services
  • Hold datatokens as assets
  • Discover and buy / sell datatokens
  • Consume data services

The publishers uses Ocean Datatoken Factory to deploy a new datatoken to the chain.

More on this here.

The token will be deployed on:

  • Ethereum
  • Polkadot
  • Polygon

OCEAN token Isssuance


Total supply: 1.41B

Circulating supply: 347 000 000

Allocation

  • 20% – Founders
  • 15% – Presale
  • 5% – Foundation
  • 60% – Nodes, Rewards

Presale price: 0.22€.

Docs


Similar projects


  • STREAMR

OCEAN token price


 

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