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FAQ: psdnOCEAN
psdnOCEAN is the liquid staking wrapper for veOCEAN, and it allows users to exchange $OCEAN for psdnOCEAN and benefit from a liquid token that is, at the same time, a sustainable source of real yield.
The main benefit of psdnOCEAN is the ability for users to exchange $OCEAN in return for a liquid token while maintaining exposure to veOCEAN (4-year locked) rewards, potential Data Farming rewards, and earning additional $PSDN emissions. Liquid tokens are transferable.
All rewards are distributed in $OCEAN and $PSDN.
Note: Only staked tokens are eligible for rewards
- 80% revenue share of locked veOCEAN (4 years) through psdnOCEAN.
- 80% revenue share generated through the allocation of veOCEAN in Data Farming.
- Majority of $PSDN emissions
- 15% revenue share of locked veOCEAN (4 years) through psdnOCEAN.
- 15% revenue share generated through the allocation of veOCEAN in Data Farming.
- $PSDN Emissions
- 5% of total revenue generated through psdnOCEAN and Data Farming.
- $PSDN emissions
Auto-staking provides the user with the possibility to automatically stake psdnOCEAN into single-sided staking immediatly after conversion. Users who wish not to stake automatically can do this manually.
it doesn't.
Converting $OCEAN to psdnOCEAN is irreversible. You may stake and unstake psdnOCEAN, but not convert them back to $OCEAN. Secondary markets, however, allow the exchange of psdnOCEAN and $OCEAN at varying rates.
‘Lock tokens’ is the function necessary to lock $OCEAN into veOCEAN. Users can choose to execute this function or delegate the responsibility of locking their tokens. Not locking the tokens will result in a small fee.