UMA

Bookies, a new prediction market platform built on the Base blockchain and secured by the Optimistic Oracle, has launched an integration with Farcaster. This integration allows users to interact with prediction markets directly from their Farcaster feed, enabling a new level of accessibility and convenience for participating in these markets. Bookies is particularly focused on sporting events, providing users with exposure to various sporting events through their Farcaster feed. The team behind Bookies will be hosting a Space session to provide more details and insights about this integration.

Farcaster, a decentralized social media platform, has announced the integration of Bookies, a sports betting platform, into its ecosystem. Bookies will be a native application on Farcaster, allowing users to access and participate in sporting events directly from their feed. The integration aims to provide users with a seamless experience for engaging with sports betting activities within the Farcaster platform.

Polymarket, a prediction market platform, has successfully integrated with the Optimistic Oracle (OO), a decentralized oracle solution. This integration has proven to be unique and effective, setting a benchmark for other prediction markets to follow. The official documentation from the Optimistic Oracle provides guidance for building prediction markets utilizing their technology.

The Optimistic Oracle (OO), a decentralized finance (DeFi) protocol, has surpassed 15,000 assertions, with 98.39% of them being published on-chain without dispute. This milestone signifies the growing community surrounding the UMA protocol, which powers the Optimistic Oracle.

The Optimistic Oracle (OO) is a platform designed for builders, enabling confident development across eight different networks: Ethereum, Polygon, Optimism, Arbitrum, Base, Avalanche C-chain, Boba Network, and Gnosis Chain. With access to secure, verifiable long-tail data, the OO provides limitless possibilities as a backbone for building decentralized applications. Developers can find network-specific information in the OO's documentation.

Oval, a company operating in the decentralized finance (DeFi) space, has announced that it is expanding its team and seeking a talented Product Manager with expertise in DeFi. The ideal candidate should have familiarity with Miner Extractable Value (MEV), Operator Extractable Value (OEV), or MEV capture. Oval encourages qualified individuals to apply for this position as the company aims to scale its operations.

oSnap is a new governance tool that integrates Snapshot's off-chain voting mechanism, UMA's Optimistic Oracle, and Safe's multisig wallets to provide a seamless and decentralized approach for executing DAO governance decisions on-chain. It allows DAO members to vote off-chain on Snapshot, with the Optimistic Oracle verifying the vote outcomes before automatically executing approved proposals from the DAO's Safe treasury. This removes bottlenecks, mitigates regulatory risks, and gives voters more direct control over the treasury. Key features include the oSnap Safe App, Tenderly simulation, and Safe transaction import. After a rigorous audit, oSnap is now available for DAOs to streamline their governance processes.

Oval is a new application built on Flashbots' MEV-Share infrastructure that allows lending protocols to capture Oracle Extractable Value (OEV) generated during liquidations. When Chainlink price feeds update and trigger potential liquidations, it creates OEV. Oval uses MEV-Share's order flow auctions to allow searchers to bid for the right to backrun these price updates and execute liquidations. The winning bid proceeds are then distributed to the lending protocol and oracle providers. This system promotes capital efficiency by ensuring liquidators are compensated based on market demand, redirecting up to 90% of OEV back to protocols. Over $2.5M has been lost to OEV on Aave and Compound in the past 30 days alone.

The upcoming year 2024 is expected to witness substantial growth in the prediction markets sector. Factors such as the bull market, the upcoming US Presidential election, and recent advancements in decentralized finance (DeFi) are driving platforms like Polymarket to new heights. This surge in prediction markets has major implications for verifying real-world information on the blockchain. As these trends continue, the prediction market space is anticipated to expand even further.

Over the past week, 404 liquidations occurred on the decentralized lending protocols Aave and Compound Finance, resulting in over $2.3 million paid in liquidation incentives. However, a staggering 76% of these incentives were lost to Maximal Extractable Value (MEV), a form of crypto market inefficiency. As the bull market continues, more liquidations are expected, and the company Oval is positioning itself as a solution to capture and reclaim the MEV lost during these events.