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Verification & Settlement

Prediction markets are settled using UMA. Additional verifier contracts are under development.

UMA

  • After the end time of a market/condition has passed and the market deployer can submit a resolution to UMA, also providing a bond.
  • During a challenge window (the "assertion liveness") following submission, anyone can dispute this settlement by posting an equal-sized bond.
  • If no dispute is submitted during this period, market participants can then withdraw collateral based on the value of their position according to the settlement.
  • If a dispute is submitted, UMA tokenholders vote to determine whether the assertion is true or false. Another settlement must be submitted for the market.
  • If the vote resolves to true, the disputer loses their bond. If the vote resolves to false, the asserter loses their bond.