UMA

A proposal has been made to utilize the Optimistic Oracle for voter gas rebates on Uniswap, aiming to save Uniswap delegates an average of $4,071 per proposal. This would make voter participation more accessible and sustainable, especially considering that Uniswap delegates have spent over $150,000 on onchain voting. The proposal suggests that the Optimistic Oracle could save a significant amount of money for delegates in the future.

Y2K Finance has integrated the Optimistic Oracle (OO) to secure their risk markets for pegged assets. The OO will take prices from Chainlink Data Feeds on mainnet and validate them on Arbitrum. To learn more about Y2K Finance, check out their product suite.

The introduction of Across v3 brings a seamless, intent-based interoperability layer with game-changing features like Across+ for easier app bridging and Across Settlements for crosschain DEX functionality. Building on its reputation as the fastest and most cost-effective bridge in the EVM, Across v3 is expected to be a significant development with its optimistic verification and intents-based architecture.

UMA Protocol retweeted a post with 69k views, which can be found on Polymarket powered by UMA Protocol.

A proposal to integrate oSnap with Nexus Mutual is now live on Snapshot. This integration aims to provide gas-free offchain voting for $NXM holders on Snapshot Labs and automatic onchain execution from their DAO's safe treasury.

UMA is taking part in Blast_L2's BIG BANG competition by launching their Sandbox Oracle Environment on Blast Sepolia testnet. Users can deploy their own Optimistic Oracle contracts to build prediction markets, insurance products, and more. The Sandbox Oracle environment is a tool for building with the Optimistic Oracle.

Oval's compatibility with all markets using Chainlink price feeds allows for easy integration. It can be added or removed from any market without the need for changes to core contracts or re-audits, making it ready for deployment.

Liquidations play a crucial role in DeFi lending protocols to maintain their health by quickly liquidating undercollateralized positions. However, the current liquidation mechanisms, such as fixed spread liquidations and auction-based liquidations, have flaws where most of the value from liquidations is lost to the MEV supply chain instead of going back to the protocol. Oval aims to address these issues. Stay tuned for the next part of this series to learn more.

UMA's OO has successfully secured over $5 billion worth of cross-chain transfers for Across v2, with Across v3 on the horizon.

Open Zeppelin, known for their trusted DeFi auditing services, has conducted a comprehensive audit on UMA's Oval smart contract. UMA is also offering a bug bounty of up to $1 million for critical vulnerabilities found in Oval. Read the full audit report by Open Zeppelin for more details.