Earn prizes and build the next big project with UMA’s OO at ETHSF
Tl;dr: Core members of UMA and our sister project Across will be in the Bay Area as part of the ETHSanFrancisco conference and hackathon. This article includes details on the $10K in prizes available to hackers who create top projects with UMA or Across at the event; resources to get started with UMA’s optimistic oracle (OO); a few specific ideas that could be built during the hackathon; and a video workshop by UMA smart contract engineer John Shutt focused on building with the OO.
The team at UMA and Across have ETHSF circled on our calendars
The ETHSanFrancisco conference and hackathon on Nov 4–6 is shaping up to be one of the biggest and most important hackathons of the year with more than US$300,000 to be awarded as prizes to hackers, including $10,000 in prizes for those who build the best use cases with UMA’s optimistic oracle (OO). Hackers are also encouraged to build on Across, an optimistic cross-chain bridge that is empowered and secured by the OO. Learn more details about hacking on Across here.
Come build with UMA at the hackathon
The event is expected to attract more than a thousand hackers who will compete for prizes, connect with teams and network with the bright minds of the Web3 ecosystem.
Come to build and develop your own bright idea, or pick up on one of our many seed concepts using UMA’s OO or Across. Core members of UMA will be available to support and guide hackers through the competition.
The prizes from UMA will break down like this:
First prize of $5,000
Second prize of $2,000
Pool prize of $3,000 (to be split up among various runners up).
The event will also feature a 30-minute introductory workshop focused on building with UMA’s OO, hosted by UMA senior smart contract engineer, John Shutt. (The workshop will take place in Workshop Room 2 at 6:30 PM PT on Friday, Nov. 4.
UMA’s optimistic oracle is a decentralized truth machine for Web3
UMA is an optimistic oracle that can provide and verify any arbitrary data on-chain.
Take your first steps building with the OO in this previously recorded intro workshop with John Shutt.
Data from UMA secures markets and smart contracts across Web3, expanding what’s possible for designers to build. The OO tells smart contracts “things about the world” so they can enforce real-world payout conditions.
UMA’s OO provides flexible data dispute resolution between smart contracts. Rewards can be earned by proposing answers to a data request, and that’s the lifeblood of the protocol. Proposed data will not go through a full voting process unless it is disputed, and disputes are rare. That’s what makes UMA’s oracle optimistic.
The Across bridge, Polymarket prediction markets, and Outcome.Finance DAO tools are three of the many use cases for the OO.
Here are three “seed” hack ideas for San Francisco
Check out these ideas and then pick them up and run with them in SF.
Use UMA’s OO to manage a decentralized rating service (for unsecured lending, among other things). To do this, publish a set of objective criteria and use UMA’s OO to verify how the bond/contract/token ranks according to that criteria.
This could improve on TradFi rating systems, which are well known for their broken incentives and discriminatory vetting methods that make judements based on race, sex, ethnicity, and nationality. The existing, flawed ratings systems could be replaced.
Fact-check user generated online courses with the OO. Developers could build a system that provides token incentives to educational course creators and students in a Massive Open Online Course (MOOC) DAO, while ensuring all of the content is accurate and outcomes are verifiable.
Build a project on UMA that supports reversible transfers by using wrapped tokens with slow transfer functionality (to allow time for disputes) or smart contract wallets with slow withdrawals. This could be a tool to disrupt, prevent or reverse exploits and fund thefts.
And here are a few previous hackathon winners that built on UMA’s OO
Checky (Created at ETHBogota) is a web3 dApp that uses a UMA as its consensus mechanism to verify if news sources are legitimate. Users are incentivized through UMA’s voting system to stake and earn token rewards for sharing and accurately reporting true sources of information.
Ready Set Bet (ETHBogota) is an online betting platform built on UMA. You can take any position on any open word question.
decentraList (ETHOnline 2022) is a tool for creating customizable, decentralized, on-chain address lists verified by UMA’s optimistic oracle that can be referenced by any smart contract.
Key resources to prepare for ETHSF
Meanwhile, don’t forget to register for the hackathon by the deadline of Nov.1.
Reach out with any questions and tell us more about what you want to build via Twitter, or join us on Discord and keep an eye on UMA’s channels for more details throughout ETHSF.
