Will Israel invade Lebanon in September?
HaterzLoserz
9 months ago
The way UMA is designed and distributed right now makes for a very toxic system as far as I can see. The main bulk consists of UMA team members who vote with enough tokens to achieve Quorum on all disputes. Then, the main incentive to purchase large amounts of UMA outside of that actually comes from traders + arbers who want to manipulate the dispute mechanism to trade in and out of positions during the dispute or arb the final decision. This makes for a very unhealthy system where the incentive does not always amount to the most objective truth imo. Mechanisms like the reveal period, incentivise Whales not to reveal their side of the vote to supress the price and buy up more tokens for the side they think will win for example. Between the core tokens being held by 2-3 people, and this attraction of actors who seek to profit from the dispute mechanism, lack of transparency and timely visibility on whose voting unless you run a node and can code Dune requests. Its just a terrible look for any new user who gets involved in a dispute like this and encounters the process. Should be very high on Poly's to do list after the election, Polytoken and use it for their own system thats much improved. Just an analysis of the current system and its flaws, i dont necessarily want to revert this decision or anything, it is what it is.
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