Uma Launches Solution Called 'Oval' Designed to Capture Value During Prophet Updates
The blockchain project Uma has launched a solution called "Oval". The solution allows DeFi protocols to capture the value that occurs during a prediction machine update by using prediction machine extractable value (an MEV that a protocol generates when it requests a price update from a prediction machine). The goal is to enable protocols such as lending to use the solution to retain and profit from that value rather than losing it to bots. In this setup, MEV searchers participate in an auction system, bidding for the right to access the Chainlink prophecy machine data associated with a particular protocol, with auction proceeds benefiting the protocol.
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