Tl;dr: UMA’s Optimistic Oracle is live now. It can be used to resolve markets and bring all types of data on-chain. It is not limited to use only for UMA financial contracts, but can be “plugged into” by any DeFi protocol.

UMA has quietly built something we call the “Optimistic Oracle.” The concept is simple: Anyone can push an answer on chain, and there will only be a dispute if it’s wrong. Plugging into the optimistic oracle does not require using a contract launched on UMA.


Tl;dr — UMA will be airdropping a new incentivization mechanism called a “KPI option” to a curated list of addresses in DeFi. The value of these options depends on the TVL of the UMA protocol, thereby giving every recipient an incentive to grow the protocol. (KPI = key performance indicator)

Compared to a typical airdrop which can be easily dumped, KPI options are synthetic tokens that will pay out more rewards as the core KPI of the protocol grows.

The Risk Labs foundation has allotted 2,000,000 $UMA [~$60M USD] for this purpose. The target date for the close of this…


TL;DR: UMA founders and early investors have agreed to an additional two-year lockup; the Risk Labs Foundation now holds over $15mm in non-UMA assets; 2021 is going to be wild with more developer mining, new perpetual synthetic assets, and an “optimistic” oracle that builds off our priceless R&D.

It has been a good year for UMA. The protocol launched on mainnet, the operating treasury grew quite a lot, and core investors have doubled down on their commitment to the long-term growth of the protocol. …


First Priceless Synthetic Token Built Using UMA is on Mainnet

TL;DR: A Synthetic Token to track ETHBTC—collateralized with DAI—has been built using UMA’s Priceless infrastructure. It is available on Uniswap v2.

At approximately 15:58 UTC today the first ETHBTC synthetic token was created on the Ethereum mainnet. This is the first token to be built using UMA’s priceless synthetic token infrastructure. The token code and contract code have been verified on Etherscan.

The token is currently available on Uniswap v2 🦄.

Warning: this is an experimental, alpha release. Although the code has been audited in detail by OpenZeppelin, this is a decentralized product that no one — including the core…


Adding Economic Guarantees to Blockchain Oracles for Truly Decentralized DeFi Contracts

TL;DR: We’ve built a decentralized oracle that’s designed to solve the GIANT pain point faced by most DeFi projects—the problem of centralized and corruptible oracle price feeds.

Three weeks ago we introduced our Data Verification Mechanism (DVM), a blockchain oracle with economic guarantees around the cost of corrupting an oracle system.

This follow-up post offers an high-level overview of the system and explains why we believe that an oracle with economic guarantees is a necessary building block for creating DeFi products that scale.

Check out this tweetstorm for a super quick overview of the design.

The Oracle Problem… is that Every Oracle Can Be Corrupted!

Here’s our bold claim: every


UMA believes financial markets should be universally accessible. We are excited to move one step closer to that vision and announce that USStocks is now live on the Ethereum Mainnet!

USStocks is an ERC20 token representing synthetic ownership of an index of the 500 largest exchange-listed US stocks. This means that anybody with access to the internet and digital money can participate in the US stock market. You can buy USStocks on DDEX with Dai here.

USStocks is the first censorship-resistant and decentralized means of financial market access for crypto-users today. …


Today we’re announcing UMA, a decentralized financial contracts platform built to enable Universal Market Access.

Similar to how HTTP allows information to move across borders, UMA allows risk to move across the internet without a centralized authority or single point of failure.

UMA consists of two parts: a specification for self-enforcing financial contracts, and a “provably honest” oracle used to value and margin those contracts. The system is designed to power the financial innovations made possible by public blockchains, like Ethereum. …


Could tradable coupon tokens step-side security concerns?

Disclaimer: I am not a lawyer and I have no basis to give legal advice. In fact, I’m writing this post specifically so that lawyers can tell me where I’m wrong.

In the ICO boom of 2017 way too much brain power has been spent trying to figure out if a token with future utility is a “security” or not. …


How Openfolio launched straight to a like-minded community without traditional PR

“How are we going to launch our product?”

That’s a pretty typical startup question, one we debated for a while in early June. Our product, Openfolio, was live (we had recently lifted the “coming soon” screen) but we hadn’t yet attempted to attract any press coverage. We wanted to get it into the real world, and in front of real people.
Product Hunt, a leaderboard of new products, was a community I discovered late last year from the blog posts of its founder, Ryan Hoover. Like many others, I have been impressed with how Ryan built the PH community—the collaborative nature…

Hart Lambur

Co-founder @UMAprotocol. Believer in Universal Market Access & decentralized finance. Previously founder @Openfolio, trader @GoldmanSachs, CS @Columbia.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store