Polymarket Upgrades Oracle Mechanism with MOOV2 Contract for Improved Proposal Quality

PANews reported that UMA approved proposal UMIP-189 to upgrade the oracle contract, aiming to reduce disputes and enhance market efficiency, with successful Polygon mainnet tests preceding gradual production migration.

MATIC

Summary

PANews reported on August 12 that UMA, Polymarket's oracle provider, approved proposal UMIP-189 to upgrade the oracle contract from OOV2 to MOOV2. The upgrade restricts market proposals to whitelisted users, aiming to reduce disputes and improve market efficiency in non-contentious markets such as sports and crypto prices. The new contract has been successfully tested on the Polygon mainnet and is set for gradual migration to production.

Terms & Concepts
  • MOOV2 Contract: Polymarket's updated oracle contract designed to mitigate proposal disputes and enhance market efficiency.
  • Whitelist: A list of pre-approved users allowed to submit proposals, restricting access to improve security and control.
  • UMIP-189: A proposal approved by UMA to upgrade the oracle contract, aiming to limit disputes and enhance market efficiency.