[Crypto projects](https://revain.org/projects/) › Ocean Protocol

# 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

## Key facts

- **Ticker**: OCEAN
- **Official site**: [oceanprotocol.com](https://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](https://etherscan.io/token/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](https://oceanprotocol.com/)
- Docs: [docs.oceanprotocol.com](https://docs.oceanprotocol.com/)
- Source code: [github.com/oceanprotocol](https://github.com/oceanprotocol)
- Blog: [blog.oceanprotocol.com](https://blog.oceanprotocol.com/)
- Newsletter: [oceanprotocol.substack.com](https://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](https://oceanprotocol.com/)
- [Ocean Protocol - The Ocean token](https://oceanprotocol.com/about-us/ocean-token)
- [Ocean Protocol - Foundation](https://oceanprotocol.com/about-us/foundation)
- [Ocean docs](https://docs.oceanprotocol.com/)
- [Ocean blog - Withdraws from the ASI Alliance (Wayback)](https://web.archive.org/web/20251009211001/https://blog.oceanprotocol.com/ocean-protocol-foundation-withdraws-from-the-artificial-superintelligence-alliance-4619c4604ea3)
- [Ocean blog - ASI Alliance launch (Wayback)](https://web.archive.org/web/20250930200216/https://blog.oceanprotocol.com/fetch-ai-ocean-protocol-and-singularitynet-unite-to-create-artificial-superintelligence-alliance-0768d608ecfa)
- [Ocean blog - The ASI Alliance from Ocean's perspective (Wayback)](https://web.archive.org/web/20251103184525/https://blog.oceanprotocol.com/the-asi-alliance-from-oceans-perspective-f7848b2ad61f)
- [Ocean Newsletter archive](https://oceanprotocol.substack.com/archive)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/ocean-protocol/