Gate News Bot news, July 22, according to CoinMarketCap, as of the time of writing, UMA (UMA) is currently priced at $1.67, with a rise of 22.30% in the last 24 hours, reaching a high of $2.02 and a low retreating to $1.13, with a 24-hour volume of $301 million. The current market capitalization is approximately $148 million, an increase of $26.9 million compared to yesterday. UMA is a decentralized truth machine. UMA's optimistic oracle (OO) can record any verifiable truth or data on the blockchain. OO verifies data in stages: first, a statement is proposed, and after a challenge period, if there is a dispute, a vote is held. UMA token holders can participate in the operation of OO through staking and voting, earning up to 21% APR. Developers can use UMA as a backbone to build governance.

According to The Block, Decentralizationstakeprotocol EigenLayer, prediction market platform Polymarket and DecentralizationOracle Machineprotocol UMA announced a collaboration to jointly develop a new generation of Oracle Machine system. The system will be developed based on EigenLayer's infrastructure, using its stake mechanism and EIGEN Token to verify the truth through "intersubjective", which relies on community consensus rather than purely objective data. EigenLayer's technology allows users to reuse already staked ETH or liquidity stakeToken to secure additional services such as Oracle Machine, while benefiting from the security of the Ethereum network. Polymarket is currently using UMA's Optimistic Oracle Machine system to enter

PANews June 27th News, according to CoinDesk, the prediction market Polymarket has rare contradictions with its oracle service UMA on the issue of whether Barron Trump is involved in the DJT token. Despite UMA's repeated rulings of 'no', Polymarket stated that UMA made a mistake and plans to make corrections. This dispute has attracted widespread attention, with bets exceeding $1 million. Polymarket CEO Shayne

Odaily Planet Daily News Polymarket announced on X platform that it has entered a new era of news and will be upgraded through the next generation Oracle Machine, and will soon collaborate with UMA and EigenLayer.

UMA officially announced the UMAToken supply as of January 31, 2025, with a total supply of 122,979,000 UMATokens, of which the DAO-controlled supply is approximately 34,000,000 UMATokens, and the circulating supply is approximately 88,000,000 UMATokens. Additionally, the issuance of UMAToken is based on emission rates, and users can participate in stake and voting to earn Tokens.

LayerZero CEO pointed out on social media that there are critical issues with the Across Protocol Token contract, which mistakenly exposes a functionality that should have been an internal private function, allowing the contract owner to withdraw Tokens from any wallet and arbitrarily zero out the account balance. Additionally, both the Across Protocol and UMA Protocol contracts have the ability to mint an unlimited number of Tokens. The solution is to transfer the contract ownership to a new Smart Contract to prevent excessive issuance and ensure that the new contract does not include the functionality to transfer ownership. The new contract must be immutable.