• UMA's optimistic oracle is a decentralized truth machine. The oracle can verify any statement proposed on the blockchain. It provides real world data so smart contracts and markets asking for that data can be settled.

  • The project consists of the following major components working in conjunction:

    • Optimistic Oracle (OO): UMA's Optimistic Oracle allows contracts to request and receive information. The OO provides that "real-world" data optimistically, which means that data is accepted as true unless anyone disputes the information.

    • Data Verification Mechanism (DVM): If a dispute is raised, a request is sent to the Data Verification Mechanism (DVM). Disputes sent to the DVM will be resolved after 48 hours after UMA token holders have voted to validate the off-chain data.

  • UMA is the native token of the project. The current use cases for UMA include:

    • Security: the token provides economic guarantees to protocols using UMA’s OO, including projects like Across, Polymarket and Sherlock.

    • Dispute Resolution: UMA’s community of ±token holders provide the human component, as voters, for the OO's final resolution on disputes or queries.

    • Governance: tokens are also used to vote on protocol upgrades and UMA DAO funds allocations.

  • On January 27, 2023, the maximum and total token supply of UMA token is 108,858,567. The current circulating supply is 68,947,415 (68% of the total token supply).

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