Cross-Chain Optimistic Oracles Bridges | UMA & Across Protocol | Hart Lambur

Audio from the June 20, 2022 installment of “Polygon Alpha” with Hart Lambur - Co-Founder of UMA and Across ProtocolPolygon Alpha Shorts - https://tinyurl.com/PolygonAlphaShortsYouTube - https://www.youtube.com/c/PolygonTVSpotify - Follow the show on Spotify!RSS feed for Apple Podcast - https://api.substack.com/feed/podcast/863588.rss

Transcript - Coming soon!

UMA

- UMA is an optimistic oracle and dispute arbitration system that securely allows for arbitrary types of data to be brought on-chain. UMA’s oracle system provides data for projects including a cross-chain bridge, insurance protocols, custom derivatives and prediction markets.

- UMA's Optimistic Oracle allows contracts to quickly request and receive price information.

- The Optimistic Oracle acts as a generalized escalation game between contracts that initiate a price request and UMA's dispute resolution system known as the Data Verification Mechanism (DVM).

- Prices proposed by the Optimistic Oracle will not be sent to the DVM unless it is disputed. This enables contracts to obtain price information within any pre-defined length of time without the need to have the price of an asset written on-chain.

- If a dispute is raised, a request is sent to the DVM. All contracts built on UMA use the DVM as a backstop to resolve disputes. Disputes sent to the DVM will be resolved 48 hours after UMA tokenholders vote on the price of the asset at a given time.

Across Protocol

- Across is an optimistic cross-chain bridge protocol that allows users to execute transactions between chains nearly instantaneously. This is accomplished by using an optimistic oracle, bonded relayers, and single-sided liquidity pools.

- Across allows users to move tokens between chains by using a decentralized network of relayers who are reimbursed on a chain of their choosing through a unified liquidity pool.

- A user that would like to move funds from chain A to chain B deposits funds into a "deposit box" on chain A with instructions about where they would like their funds to wind up and the fee that they are willing to pay.

- Relayers view these deposits and, once they have verified that the details of the deposit are correct, immediately provide funds to the user on chain B.

- After the relayer has performed the relay, a proof of that relay and the validity of the original deposit is submitted to the Optimistic Oracle (OO) and the relayer is reimbursed once this information has been verified by the OO. ~~~~

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Host: Justin Havins aka Crypto TexanAV Engineer: MalkaviaM