UMA’s Oracle Update: Now Only the Chosen Few Can Propose Market Resolutions 🚀🔒

by

So, it seems the good folks at UMA, the trusty oracle providers for Polymarket, have decided to shake things up a bit. They’ve introduced a new rule that only allows a select few, shall we say, the ‘whitelisted elite,’ to propose how markets should be resolved. This little tweak comes just as Polymarket is making the grand transition from the Optimistic Oracle V2 (OOV2) to the Managed Optimistic Oracle V2 (MOOV2) contract. And let’s not forget, all of this happened after the UMIP-189 governance proposal passed on August 6, because, you know, why not add a dash of democracy to the mix? 🗳️

Now, under this shiny new MOOV2 upgrade, only those with the golden ticket (i.e., whitelisted addresses) can directly submit resolution proposals. For everyone else, it’s like being at a fancy party without an invitation-unless, of course, you can tag one of the chosen ones to submit on your behalf. But fear not, dear readers, for the rest of us can still play detective and dispute any dodgy proposals we come across. It’s all about improving the quality of these proposals and, hopefully, cutting down on the squabbles, especially in those straightforward markets like sports or cryptocurrency prices. 🏆💰

According to the wise sages at PolymarketGuide, an independent knowledge base that knows a thing or two about this stuff, the old OOV2 system was a bit of a free-for-all. Proposals were often made prematurely or by users who hadn’t quite grasped the finer points of the game, leading to delays of up to four days and the occasional loss of bonds. They put it rather eloquently: “With a smaller, more experienced group, the typical proposer is more likely to perform due diligence, reducing early proposal disputes, especially in non-contentious markets such as sports, weather, and crypto prices.” In other words, it’s a shift from the wild west of open debates to a more civilized council of proposers. 🛡️📜

UMA’s community manager dropped the news on Discord with all the flair of a seasoned announcer: “After passing via governance, the ManagedOptimisticOracleV2 (MOOV2) contract managed by Polymarket is now supported on our Oracle Dapp.” They also mentioned that Polymarket has already started testing on the Polygon mainnet with real rewards and plans to roll out to full production before you can say “blockchain revolution.” 🚀

The ultimate goal here is to cut down on manipulation and attacks by restricting who gets to play the resolution game. This move is likely a reaction to past issues where big UMA token holders, or as I like to call them, the ‘whales,’ could sway the results to their favor. When MOOV2 was first announced, UMA revealed that Risk Labs, the brains behind UMA, had crafted an initial whitelist of 37 addresses. This exclusive club includes Risk Labs and Polymarket employees, as well as users with a track record of over 20 proposals and a staggering 95% accuracy rate. Impressive, right? 🌟

While it’s not entirely clear when MOOV2 will be fully active on Polymarket, the update is expected to make the platform more reliable and reduce the delays caused by premature or low-quality proposals. So, it looks like the future of Polymarket is in good hands-or should I say, good wallets. 💼🌈

Read More

2025-08-12 14:42