SuperUMAns #42 - UMA 2.0 is coming
There are big news in the Cryptoverse as UMA 2.0 is coming in 2023. The first change you'll notice is the introduction of $UMA token staking. When this takes effect in Q1, and voters will stake their UMA and earn continuous rewards (est. 30% APY).
The UMA 2.0 mechanics will overhaul the token rewards system as the users will earn regardless of the number of votes. The staking rewards will be streamed continuously and will begin immediately after staking the UMA tokens. It will get even better, as the voters will experience reward reallocation depending on whether they vote consistently and accurately or not as part of UMA's optimistic oracle DVM.
Over four years ago, Risk Labs foundation started out on a path to design synthetic derivatives that will improve the Cryptoverse. This year will mark a shift in the vision, as the UMA Optimistic Oracle will transform into a more robust and more flexible security model that secures more value. This is the first step towards the next generation of real-world applications.
UMA's Optimistic Oracle validates data provisions optimistically, and only requires the Schelling point vote in cases of a dispute instead of verifying every data request. The innovative tool powered smart contract insurance, prediction markets, cross-chain bridges and DAO-incentive platforms, securing billions of dollars worth of markets without exploit.
UMA Token Staking will reward the providers and reward good work. Over 99.9% of the Optimistic Oracle work is done in the background, and the UMA staking will ensure that voters will show up for that .01% pessimistic case. The token-holders will work to resolve the dispute, and supply data to the Oracle.
The protocol’s reward emissions rate is expressed as $UMA/second, with the initial amount at .18 $UMA–Adjustable by governance vote. The emissions will be shared among all staked $UMA, so the APY will be variable. The reward reallocation will also depend if the holders vote vote consistently and accurately or not, as a small fraction of tokens will be redistributed from the stakes of unsuccessful voters to successful voters. These reallocations are discrete, per-vote events.
Why all this matter? Because a credibly neutral crowd of people will both answer and validate information, opening a new design space for coordination layers. This may include contracts enforced without governments, incorruptible information markets, grants or investments with no counterparty risk, news fact checking and the ability to decentralize protocols. I VOTED and I will vote! I will play my part in blockchain evolution.
I am active both on-chain and off-chain, same as the Optimistic Oracle, and I was tagged into this interesting tweet. UMA was in the top 5 coins by AltRank and I was the top influencer!
UMA was also in the top 3 DAOs with under 100,000 followers based on Twitter engagement. I got my share of glory in this thread as well, being one of the top 5 members based on interaction.
The UMA 2.0 announcement made me withdraw the UMA holdings I had on Discord, and prepare for UMA staking. Must admit that the tip.cc is one of the smoothest tools when it comes to tipping, rewarding and engaging with DAOs.
The SuperUMAns are providing the best blockchain and DeFi education programs, and everyone can join the UMA server and enhance their knowledge. The education sessions are topped up with UMA/Optimistic Oracle quizzes, where the participants can win $UMA tokens. You make have the chance to go head-to-head with me and the other SuperUMAns, in a battle of big brains.
Join UMA and the superUMAns
The SuperUMAns are the community’s ninja troops and the people who bring the community to life. All you have to do to become a superUMAn join our brand new Discord channel and put your talents to good use! There is always room for another superUMAn!
Also join the UMA Discord to be up to date with the news and announcements
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