Ocean Protocol (OCEAN): how it works, supply and reviews
In short
- Type
- Open-source data and AI protocol (smart contracts and node software), not a separate blockchain
- Maximum supply
- About 268 million OCEAN, fully emitted, circulating and permanently capped
- Risks and caveats
- Most OCEAN supply was converted to FET during the ASI merger; the conversion bridge is run by Fetch.ai, not Ocean
- Checked
- 31 October 2026
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Key facts
- Ticker
- OCEAN
- Official site
- oceanprotocol.com
Key facts checked on 31 October 2026 against official sources.
What is Ocean Protocol
Ocean Protocol is a set of open-source tools for sharing and monetising data and AI models on blockchains while preserving privacy. Data assets are wrapped as data NFTs and datatokens, and Compute-to-Data lets algorithms run on data without moving it. OCEAN is an ERC-20 token whose supply is fully emitted and capped at about 268 million.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Open-source data and AI protocol (smart contracts and node software), not a separate blockchain |
| Data tokens | Data NFTs (ERC-721) represent data assets; each can issue ERC-20 datatokens that grant access |
| Compute-to-Data | Computation moves to the data, so models can be trained without relocating the data |
| Runs on | OCEAN is an ERC-20 token on Ethereum |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | About 268 million OCEAN, fully emitted, circulating and permanently capped |
| Fee burn | Part of profits from spin-outs of Ocean technology is to be used to buy back and burn OCEAN |
| FET conversion | Since July 2024, 81% of OCEAN supply was converted to FET; the Fetch.ai-run bridge remained open at 0.433226 FET per OCEAN as of 9 October 2025 |
What OCEAN is used for
- The Foundation renounced control of the OCEAN contract in mid-2023; ecosystem projects decide how to use OCEAN
- Possible uses named by the Foundation: staking, platform functions, governance, payment, DeFi and rewards
- Predictoor users can earn OCEAN rewards by predicting
Who develops and governs Ocean Protocol
- Foundation
- Ocean Protocol Foundation Ltd., Singapore, coordinates development of Ocean technology
- Founders
- Formed by Trent McConaghy
- Open source
- Code is published in the oceanprotocol GitHub organisation
History
| Date | Event |
|---|---|
| 2017 | Marketplace framework milestone (Q3 2017) |
| 27 March 2024 | Fetch.ai, Ocean Protocol and SingularityNET announced the Artificial Superintelligence Alliance and a planned token merger |
| 9 October 2025 | The Ocean Protocol Foundation withdrew its directors and resigned as a member of the ASI Alliance |
| 16 March 2026 | Ocean Network launched a beta of its peer-to-peer GPU compute orchestration layer |
Security and audits
- No dated audit reports or bug bounty were found on the official pages reviewed
- After leaving the ASI Alliance, Ocean published its own account of a dispute with Fetch.ai, including legal threats and a May 2024 legal dispute
Security incidents
Incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so none is listed here.
Official OCEAN contracts
| Network | Contract address |
|---|---|
| Ethereum | 0x967da4048cD07aB37855c090aAF366e4ce1b9F48 |
OCEAN ERC-20 token contract on Ethereum, as listed by the Ocean Protocol Foundation.
Risks and caveats
- Most OCEAN supply was converted to FET during the ASI merger; the conversion bridge is run by Fetch.ai, not Ocean
- No issuer manages the OCEAN token contract; the Foundation renounced control in 2023
- Ocean's exit from the ASI Alliance involves a public dispute with Fetch.ai
Official links
- Website: oceanprotocol.com
- Docs: docs.oceanprotocol.com
- Source code: github.com/oceanprotocol
- Blog: blog.oceanprotocol.com
- Newsletter: oceanprotocol.substack.com
Questions and answers
What is Ocean Protocol?
Open-source tools for sharing and monetising data and AI models with privacy, using data NFTs, datatokens and Compute-to-Data.
Is Ocean Protocol still part of the ASI Alliance?
No. The Ocean Protocol Foundation withdrew from the ASI Alliance on 9 October 2025.
Can OCEAN still be converted to FET?
As of 9 October 2025 the Fetch.ai-run bridge remained open at 0.433226 FET per OCEAN; about 81% of OCEAN supply had been converted since July 2024.
What is the maximum supply of OCEAN?
About 268 million OCEAN, fully emitted and permanently capped.
Sources
- Ocean Protocol - Homepage
- Ocean Protocol - The Ocean token
- Ocean Protocol - Foundation
- Ocean docs
- Ocean blog - Withdraws from the ASI Alliance (Wayback)
- Ocean blog - ASI Alliance launch (Wayback)
- Ocean blog - The ASI Alliance from Ocean's perspective (Wayback)
- Ocean Newsletter archive
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