Second Oracle Game Test Revealed, 10,000 USD Bounty Fund
Last week we deployed the first version of our innovative ‘Oracle’ product to mainnet alongside the first part of a 1 million USD bounty fund (paid in NII). We started this public test with a simple, easy to exploit ‘resolution engine’ — our name for the set of rules governing how the Oracle works. As expected, the community soon worked out how to drain the bounty fund attached to this ‘naive’ resolution engine. We’ve seen 120 ‘phases’ of staking so far, which has provided us with excellent data. Now it’s time to launch the second resolution engine and double the bounty fund associated with it.
1 million NII tokens
The first resolution engine, titled ‘NaiveTotalResolutionEngine’, was simple and deliberately easy to exploit. Once the community worked out how to flip the verification status of the Oracle back and forth, we saw a very rapid increase in the number of completed staking rounds. This drained the 500,000 NII (5,000 USD at IEO price) bounty pool very quickly.
Today, we’re deploying the second resolution engine which will have a 1 million NII bounty fund (10,000 USD at IEO price). Future resolution engines will be named after cities, so it makes sense for us to start with Bergen in tribute to our home city. The new resolution engine will therefore be called ‘BergenResolutionEngine’.
Unlike the first resolution engine, which relied on only one metric, this new engine will look at three different ‘resolution criteria’ when deciding whether to close the current staking round. While we expect this engine to be exploited and the bounty fund drained eventually, it should be more difficult to manipulate.
Much More to Come
We will continue to deploy new resolution engines over the coming weeks as part of our ongoing 12 month public game. In total, 100 million NII tokens (1 million USD at IEO price) will be put into the bounty funds of these engines. Based on the community response to the first test, the increased bounty size and difficulty of this second engine should prompt an even greater level of discussion and engagement.
To help you participate in the Oracle game we have a range of resources available, including a step-by-step guide. Please remember that staking tokens into the Oracle carries a risk; if you stake your tokens on ‘true’ and the Oracle resolves ‘false’ for that verification phase, you will lose your tokens. Equally, if you stake your tokens on ‘true’ and the Oracle resolves ‘true’, you will receive a proportional share of the bounty fund and a share of any tokens staked against you. This adversarial staking is a key feature of the Oracle.
The key links are below:
Announcement: hubii ‘Lottery Oracle’ Launched with 1 Million Dollar Bounty Fund
Staking Guide: Oracle Staking Guide
Smart Contracts: Oracle
Smart Contracts: Operator
Smart Contracts: BountyFund (for the first resolution engine)
Smart Contracts: BountyFund (for the second resolution engine)
Smart Contracts: FractionalBalanceAllocator
Smart Contracts: NaiveTotalResolutionEngine (first resolution engine)
Smart Contracts: BergenResolutionEngine (second resolution engine)
GitHub repo: GitHub
White Paper: Oracle White Paper v1
Ready, Steady, Go!
The race to exploit the second resolution engine has begun, with the largest bounties available to those who figure it out first. Stay tuned for more updates about the next resolution engines, even bigger bounties and — possibly — the opportunity to revisit old engines with new rules. For now, the team will be watching the Oracle smart contracts with interest to see who gets there first. There’s no time to lose!
