UMA Protocol: synthetic asset issuance with optimistic oracle

Jun 2, 2021 | The Block News | 0 comments


Quick Take

  • UMA protocol enables permissionless issuance of any synthetic assets
  • The majority of synths issued over the last 12 months were niche and were unable to attract any significant adoption
  • The protocol has a unique oracle solution that requires human intervention, it is designed with game theory such that rational players are incentivized to act honestly
  • The team has launched a new “optimistic oracle” framework that hopefully captures the oracle market by supporting arbitrary off-chain data relay beyond price feeds

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