UMA

According to a preliminary assessment by Messari, auctioneers in the cryptocurrency space appear to have moderate pricing power. Entities like Oval, which conducts OEV auctions for UMA Protocol, are reportedly charging 50% of the surplus they generate. Messari anticipates this trend of auctioneers exercising pricing power to continue.

Oval is a service that allows lending protocols to capture a significant portion of the miner extractable value (MEV) generated during liquidations on their platforms. When market volatility increases, the amount of MEV from liquidations also rises. Oval facilitates an auction process where MEV searchers bid to backrun price updates and liquidate undercollateralized loans first, earning the liquidation bonus. Oval then distributes up to 90% of this MEV back to the lending protocol. This helps lending protocols recapture value that would otherwise be lost to the MEV supply chain.

UMA Protocol and SEDA, two projects working towards a fairer and more democratized future for Miner Extractable Value (MEV) and Operator Extractable Value (OEV), have discussed strategies for the fair capture and distribution of these values on the blockchain. Over the past month, MEV/OEV has leaked over $100 million, highlighting the need for solutions. The discussion covered topics such as the differences between MEV and OEV, who deserves to capture these values, and designs for the future. A recap blog post and a co-authored blog were released to provide insights into the discussion.

A prediction market hosted on Polymarket for the prison sentence of Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, saw over a million dollars worth of bets placed. Bankman-Fried was officially sentenced to 25 years in prison yesterday, and this fact has been verified on-chain by the Optimistic Oracle (OO) protocol. The Polymarket platform allows users to bet on the outcomes of various events, and the details of this particular prediction market are available for public viewing.

Vega Protocol, a decentralized exchange, has introduced a new points market for trading derivatives based on HyperliquidX points. This market, like all other points markets on Vega, is secured and resolved through the Optimistic Oracle, ensuring transparency and reliability. The addition expands the range of assets available for trading on the platform.

According to a retweet by UMAprotocol, approximately 30,000 ETH has been lost to Miner Extractable Value (MEV) in the past month. MEV refers to the maximum value that can be extracted by including, excluding, or re-ordering transactions within a block. UMAprotocol and SEDA are two projects working towards a fairer and more democratized future for MEV and Operator Extractable Value (OEV). They have co-authored a blog post to help understand these concepts and will be hosting a Spaces discussion with Jasper and Campbell Easton to further explore the topic.

Core DAO, an EVM-compatible BTC blockchain, has integrated oSnap, a decentralized governance solution. This integration will enable Core DAO token holders to participate in gas-free voting through Snapshot Labs, trustless on-chain execution, and simplified decentralized governance processes. The oSnap team has invited interested parties to visit their homepage for more information on their governance solutions.

UMA Protocol retweeted news from Index Coop about their upcoming 'Product Revenue Tokens' (PRTs) incentive program. This new incentive will be trialed on a new product called hyETH, which combines strategies from various DeFi protocols including Mantle, Pendle, KelpDAO, Ether.fi, Instadapp, Across Protocol, and UMA Protocol itself. The hyETH product aims to provide exposure to Ethereum-based yield strategies.

UNO has unveiled an updated version of its decentralized application (dApp) featuring an enhanced claim portal designed to mitigate centralization risks and improve claim standards. This development is the result of a partnership with UMA, leveraging UMA's Optimistic Oracle for decentralized claim assessments. Previously, UNO had announced its exploration of integrating UMA's Optimistic Oracle to foster a more decentralized approach to claim evaluation, aiming to refine the process, prioritize transparency, decentralization, and impartiality.

Index Coop, a prominent decentralized finance (DeFi) protocol, has introduced a new product called 'Product Revenue Tokens'. These tokens enable holders to claim a portion of the revenue generated from Index Coop's products, marking a significant innovation in the DeFi space.