Ocean Market Staking Guide Part 2

In dept dataset and Datatoken exploration.

This is not financial advise. This guide should only be used as a tool to understand the mechanics of staking in the Ocean Market. Please be aware of all risks before investing in any market. Don’t guess with your money.

In my previous introduction post, I mainly talked about the mechanics of the liquidity to pools of the Ocean Market. This post is about dataset and Datatoken exploration, as well as how to navigate the Ocean Market.

How to explore datasets

In this search bar, you can quickly search for keywords related to datasets, or the name of the Datatoken.

The top 9 highest liquidity pools are displayed on the front page. Just under the highest liquidity pools, you can see the new datasets that were published.

If you click on any dataset, you will get to a description page. There’s a lot of information that can be found on this page about the publisher, the liquidity of the pool, the Datatoken name and price.

Source: Ocean Market- DataUnion
  • The first thing you should do is read the entire description. There will likely be links to the website of the publisher, a data sample, the vision for the project or dataset, and other important details. The description could also include their pledge to the community or other details about their liquidity withdrawal schedule.
  • Clicking on “Published by -<address of the wallet>”, will link to all projects started with the same wallet on the Ocean Market.
  • Clicking on “Etherscan” right next to it will lead you to the blockchain explorer where you can check the activity of the publisher’s wallet.

This is for the buyer of the data. It show the price in Ocean as well as the equivalent in your selected currency. You can have information about the size of the file if you wish to download. This tab should NOT be used if you plan on investing or trading the data.

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Clicking on pool or datatoken will link to the Etherscan address

At the top, there is the price per Datatoken and just under, links to the Pool and Datatoken addresses on Etherscan.

The Erc-20 tab will show history of the pool transactions.
The Datatoken page will give you informations like the total supply, the number of holders and the contract address so you can add it to your Metamask as a custom token.

The Datatoken page will give you informations like the total supply, the number of holders and the contract address so you can add it to your Metamask as a custom token.There is also a chart of the datatoken distribution addresses.

There is also a token holders chart where you can see the distribution of the tokens by address.

You can gather information like how many shares of the pool the Creator has, and how many Datatokens are in the pool compared to the total number that was minted.

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This part will show your liquidity in the pool.

Here you can see the Creator’s share of the pool.

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And here is the total liquidity and value of the pool.

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In this example, we can see that more than half of the datatokens have left the pool to go into wallets, because Etherscan shows there is a total of 1000 QUICRA-0 that have been minted. This shows a demand for the token, but it’s also something to keep in mind because anyone with the Datatoken in his wallet can swap it in exchange for Ocean Tokens that are in the pool — This would result in a price drop. Also remember that removing more Datatokens from the pool will raise the price per Datatoken.

Finally you can also get a general idea of the liquidity trend and price trend.

The pool statistic graph will give you of general idea of the trend. You can also switch to the price graph, which will show the Datatoken price trend.
Clicking on Approve and Supply will prompt 2 Metamask transactions. The first will allow the spending of the Ocean Tokens you entered, and the second transaction will be the contract to supply the Ocean Tokens to the pool.

If your wallet is connected an you hold Ocean Tokens, it will show up as your balance. You will also see the maximum amount you can supply in the pool. The maximum might be less than your balance amount because you can’t add or withdraw more than 25% of the pool’s liquidity per transaction. You can click on “use max” to automatically supply the max liquidity.

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Simple mode withdraws Ocean Tokens only. That means it sells the Datatoken part of your liquidity to the pool.

You can use the slider to remove part of your liquidity in Ocean Tokens, or use “100% max” to automatically remove the maximum you can withdraw.

If you hold less than 25% of the pool, you’ll be able to withdraw all your liquidity in a single transaction. You will pay swap fees on the Datatoken portion of your liquidity.

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Source: Ocen Market — Atlantis

Advanced mode withdraws both Ocean Tokens and Datatokens in the ratio of the pool. You can use the slider or the “100% max” to remove the maximum liquidity.

You will not pay swap fees, as you are keeping both your assets as they are. The Datatoken price will not change if you remove in advanced mode, because you are taking out equal parts of the liquidity.

Approve and Remove is done in a single Metamask transaction.

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Should be used if you wish to swap between Ocean Tokens and Datatokens. This means you won’t be a liquidity provider, but you will still pay for swap fees that will be distributed between LPs. Clicking on the pink arrow will flip the direction of the trade. If for example, you have Datatokens in your wallet and you wish to exchange them for Ocean. Swap fees varies between pools. The expected price impact can be adjusted if you wish to bypass the default 5% slippage.

This concludes this guide about dataset and Datatoken exploration . I hope this will help you navigate the Ocean Market. I will try to write more guides in the coming days as we should see more functionalities with the launch of apps that make use of the Datatokens to reward users. Stay tuned.

-Agent K

Access the Ocean Market here

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Agent K

Crypto enthusiast, interested in disruptive technology. Currently helping EnergyWeb Doge with their goal of making Dogecoin Carbon-Neutral.