uUSDrBTC Synthetic Token Expiring 31 December 2020 (UUSDRBTC-DEC)

The uUSDrBTC Synthetic Token Expiring 31 December 2020, with ticker UUSDRBTC-DEC, is a decentralized financial instrument that operates on the UMA (Universal Market Access) platform. It utilizes UMA’s optimistic oracle (OO) system to record verifiable data onto a blockchain—the token allows users to propose true statements and submit them with a bond. The statement is accepted as true if it is not disputed during the challenge period. Disputes allow users to earn rewards, as tokenholders can vote on disputed statements. The UMA token provides economic guarantees to the Optimistic Oracle; those who vote with the majority earn rewards.

Participating in the uUSDrBTC Synthetic Token as a voter involves staking the UMA token to help secure the Optimistic Oracle. Token holders who vote correctly and consistently can earn higher annual percentage yields (APYs). Successful voters gradually increase their ownership percentage of the protocol. On the other hand, participating as a builder enables the launch of products using the Optimistic Oracle as a backbone. This includes various governance, prediction markets, insurance, and cross-chain communication applications. The OO can also be used to enable trustless forms of decentralized autonomous organization (DAO) governance.

The uUSDrBTC Synthetic Token, Expiring 31 December 2020, provides users with a decentralized and incentivized method for verifying and recording truths on the blockchain. Utilizing the UMA platform and the Optimistic Oracle system ensures the reliability and integrity of the recorded data. Users can participate in the UMA ecosystem and contribute to its growth and success as voters or builders.