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FAQ
Trent McConaghy edited this page Nov 21, 2022
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- Q: Is voting from exchanges or with OCEAN currently provided as liquidity on Ocean Market currently possible?
- A: You can use your coins that are providing Liquidity in Ocean Markets to vote. Make sure to have an OCEAN balance in a non-custodial wallet before voting opens on Dec 15. Voting from CEX is not supported at the moment. We are working to provide support for DEX's, and other systems.
- Q: How does OceanDAO relate to other Ocean funding programs (Shipyard, Data Economy Challenge)?
- A: OceanDAO is now the central place where funding comes from. Both Shipyard and Data Economy Challenge are being rolled into the DAO. It is now being improved to provide:
- Small & Large grants.
- Support for veteran & new teams.
- A wide range of grant categories.
- More information is at: https://oceanprotocol.com/dao
- Q: I've submitted my project to Data Economy Challenge. Can I also submit it to OceanDAO? And what about the other way?
- A: Yes, and yes! We encourage it.
- Q: I've submitted my project to Shipyard. Can I also submit it to OceanDAO?
- A: Yes, we encourage it. OceanDAO is now the main source for funding, and community curators will take this into consideration.
- Q: Is Ocean a governance DAO? Can we use it to change parameter x?
- A: No. OceanDAO is exclusively a grants DAO which gives funding for community-proposed projects. That’s it.
- Q: Is this Ocean V4? If no, does that mean you didn’t complete your roadmap?
- A: The roadmap laid out shipping OceanDAO as Ocean Goal 4 / V4. In shipping OceanDAO, we are fulfilling Goal 4 and the promise of the roadmap. However, we are now reserving the label “Ocean V4” for future changes to Ocean smart contract software.
- Q: Why not quadratic funding? Quadratic voting? Conviction voting? Futarchy? …?
- A: These are all great ideas. Currently we constrain ourselves to using readily-available tooling with a minimum of experimentation needed. None of the ideas listed fit that criteria. However as DAO tooling improves, we hope to be able to try out new ideas. For now, 1 OCEAN = 1 vote.
- Q: Are there plans for a governance DAO?
- A: Not at the present. This is also because, for Ocean, PRs or forks are generally more appropriate anyway, see below. Let’s see how things evolve.
- For changes to Ocean Market code, then make a PR, or fork and make your own version.
- For changes to libraries like ocean.js, then make a PR, or fork and make your own version.
- For changes to the datatokens contracts: there is virtually nothing to change since they’re so simple. Basically just ERC20.
- For changes to the pool contracts, fork it, change it, and deploy as your own version. We want more types of pools in Ocean.
- Q: More OCEAN tokens are in circulation via the grant rewards. Does this really bring more value to the Ocean ecosystem? What are the benefits of OceanDAO?
- A: OceanDAO is a grants DAO with the purpose of growing the overall value of Ocean Protocol. Investing in the Ocean ecosystem is a critical aspect of this goal. A key requirement in OceanDAO is for capital to be allocated efficiently, by requiring each project to have expected ROI > 1.0 (details]. This constraint ensures that there will be growth, and that the value of OCEAN grows more than the one-time gain of otherwise burning OCEAN. See The Web3 Sustainability Loop for more details.
- Q: The OPF has Ocean tokens, will they use them to vote for proposals? Will it then be a centralized system where the OPF chooses what will get funded?
- A: No. The OPF and BigchainDB will not be voting.
Ask further questions on OceanDAO Discord.