DeFi projects whose users demand the highest level of financial security and recourse against exploits and errors.
Prediction markets, option platforms, and other market types that require precise information
dApps which require accurate data for long-tail assets
Resolves requests accurately and quickly for various types of data (e.g., price information, outcomes of real-world events, long-tail assets, performance outcomes)
Constructed with a priceless contract design to minimize reliance on oracles, making contracts on UMA more secure, gas efficient and less prone to manipulation
Leverages UMA’s Data Verification Mechanism (DVM) as a backstop to resolve disputes; any attempt to manipulate the oracle triggers a dispute
Backed by economic guarantees around the cost of corrupting the DVM to ensure it will cost more to corrupt the oracle (i.e., obtain 51% or more UMA tokens) than the amount someone could profit from corrupting the oracle (i.e. stealing funds within contracts on UMA).
For L2 solutions, a cross-chain bridge can ensure efficient settlement and security for L2 products.
A prediction market creates bespoke markets based on real-world information and uses the OO to resolve its markets.
A developer creates a financial product based on real-world data such as stock prices and benefits from the OO’s design that does not require a secured price feed.
An insurance provider wants to offer insurance on a space launch and uses the OO to report the outcome of the launch.