UMA, the oracle provider for Polymarket, has updated its oracle rules to limit market resolution proposals to whitelisted users. This change comes with Polymarket moving from the Optimistic Oracle V2 (OOV2) to the Managed Optimistic Oracle V2 (MOOV2) contract. The update also follows the passing of the UMIP-189 governance proposal on August 6.
Under the new MOOV2 upgrade, only whitelisted addresses can submit resolution proposals directly. Other users can tag whitelisted proposers to submit on their behalf. However, anyone can still dispute proposals if they find them incorrect. This is meant to improve the quality of proposals and reduce disputes, especially in simple markets like sports or cryptocurrency prices.
PolymarketGuide, an independent knowledge base, explained that many proposals under OOV2 were made too early or by inexperienced users, causing delays of up to four days and loss of bonds. It shared, “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.” The guide also noted this change means moving “from open debates over precedent to a centralized council of proposers.”
“After passing via governance, the ManagedOptimisticOracleV2 (MOOV2) contract managed by Polymarket is now supported on our Oracle Dapp,” UMA’s community manager stated on Discord, adding that that Polymarket has started testing on Polygon mainnet with real rewards and will soon move to full production.
UMA’s Move to Reduce Resolutions Manipulation
The change seeks to reduce manipulation and attacks on the market by limiting who can make resolution proposals. This is likely a response to past problems with UMA’s oracle system, where large UMA token holders or whales could influence results.
When MOOV2 was first announced, UMA said Risk Labs, the company behind UMA, created an initial whitelist of 37 addresses. This list includes employees of Risk Labs and Polymarket, and users with more than 20 proposals and over 95% accuracy.
It is not yet clear when MOOV2 will be fully active on Polymarket. The update is seen as a way to make Polymarket’s markets more reliable and reduce delays caused by early or poor-quality proposals.
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