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John Shutt Profile picture
John Shutt
@jdshutt
Oya Protocol co-founder prev: @umaprotocol {smart contracts and oSnap creator} @AcrossProtocol {co-founder and litepaper author} @EY_US Blockchain @BayLeaks
Nov 11, 2021 • 8 tweets • 4 min read
How does the growth of @AcrossProtocol affect $UMA tokenomics? AKA, how can the @UMAprotocol team afford to build Across just to give it all away to the community? A quick thread. The @UMAprotocol Optimistic Oracle provides game theoretical security for all data requests. The way this works is by enforcing that the "cost of corruption" to manipulate the oracle is greater than the "profit from corruption." docs.umaproject.org/oracle/econ-ar…
Nov 10, 2021 • 6 tweets • 3 min read
For connoisseurs of bridge mechanisms, the DAI Wormhole is pretty similar to @AcrossProtocol, but instead of withdrawing from a liquidity pool on the receiving chain, you burn DAI on the sending chain and mint DAI on the receiving chain. (That's not to imply in any way that @MakerDAO picked up this trick from @AcrossProtocol; they've been working on their oracle-based DAI bridge for a while now. This is an example of convergent evolution.)
Oct 26, 2021 • 10 tweets • 4 min read
Wondering what makes the @AcrossProtocol bridge different? Here are a few things you should know. 🧵👇 1. Fastest transfer time. As soon as a relayer sees a deposit on L2, they can relay it to L1. This is more complicated in future versions if you're relaying between chains with less-than-instant finality, but you will always be able to go as fast as it's possible to go.
Jun 22, 2021 • 17 tweets • 7 min read
This thread will explain how to use @UMAprotocol to power secure, non-custodial, and superfast cross-chain transactions, including token transfers and swaps. 👇🧵 2/ @UMAprotocol has launched on @0xPolygon and plans to launch on every EVM-compatible chain.

This means that you can optimistically settle data requests on any chain, with the ability to call back to the DVM on Ethereum to securely resolve any disputes. medium.com/uma-project/um…
Jun 16, 2021 • 15 tweets • 4 min read
The Optimistic Oracle from @UMAprotocol provides optimistic settlement of any publicly verifiable data, from crypto prices to @SpaceX launch success rates to the outcome of a @mcuban bet. How could this be used by the emerging crop of investment DAOs? 🧵👇 docs.umaproject.org/getting-starte… 2/ One obvious answer is that you can get a price for anything. Some prices, like BTC basis, ETH VIX, DeFI Pulse TVL, and others require a lot of calculation. UMA excels at delivering complicated or long-tail prices. docs.umaproject.org/uma-tokenholde…