❔FAQ: psdnOCEAN

What is 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.

What does psdnOCEAN flow look like?

What are psdnOCEAN main benefits?

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.

How are rewards distributed?

All rewards are distributed in $OCEAN and $PSDN.

Note: Only staked tokens are eligible for rewards

Rewards for psdnOCEAN/OCEAN LP:

• 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

Rewards for psdnOCEAN single-sided staking:

• 15% revenue share of locked veOCEAN (4 years) through psdnOCEAN.

• 15% revenue share generated through the allocation of veOCEAN in Data Farming.

• $PSDN Emissions

Rewards for PSDN

• 5% of total revenue generated through psdnOCEAN and Data Farming.

• $PSDN emissions

What does auto-staking mean?

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.

How does psdnOCEAN impact $H2O?

it doesn't.

Can I convert psdnOCEAN back to OCEAN?

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.

What happens when users choose to ‘lock tokens’?

‘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.