OptionRoom partners with Union to use the Oracle as a Service — OaaS as an arbitrator for the Union Asset Protection on Polkadot
We are excited to announce a partnership with UNION. This partnership will allow OptionRoom to solve arbitration disputes of oracle requests via decentralized, community governance. This will allow Polkadot-based UNION claims to be settled via OptionRoom’s arbitration process. Additionally, OptionRoom’s incentivized network of experts, aligned via reputation (authenticity) scores, can help validate that specific events occurred on Polkadot relating to UNION protection pools. OptionRoom’s limitless event oracles also future-proof’s UNION protection suite as the line of real-world outcomes blurs with pure digital outcomes.
Here is what the CEO of OptionRoom has to say about the partnership:
“We are excited about this partnership between UNION and OptionRoom as a part of our effort to onboard more projects to the OptionRoom oracle. Hoping this partnership will set the path for further exploration collaboration between our projects.” — Marsel Adawi, CEO of OptionRoom
Here is what the John Liu CPO of Union has to say about the partnership:
“As we look at UNION’s cross-chain ambitions in the future, a real-world outcome Oracle built on Polkadot such as OptionRoom is a no-brainer ingredient. Adding OptionRoom as a claim-resolution arbiter for events occurring on non-Ethereum protocols, paired with Kleros as our Ethereum abriter, gives UNION a borderless arbitration framework.” — John Liu, CPO of UNION.
OptionRoom is a user-governed oracle and forecast protocol built on Polkadot. OptionRoom has the ability to serve as a OaaS — Oracle as a Service where oracle requests are solved by governance. Oracle requests cost a fee and a solution incentive paid in ROOM, rewarded to request solvers. OptionRoom allows users to create and participate in event derivatives that are pegged to real-world outcomes by governance consensus. OptionRoom’s mission is to create a self-reliant protocol with multiple use cases powered by the community. By rewarding honest protocol participants and punishing bad actors OptionRoom aims to create a governance that is pegged to the real world without relying on outside data streams.
UNION is a technology platform that combines bundled protection and a liquid secondary market with a multi-token model. DeFi participants manage their multi-layer risks across smart contracts and protocols in one scalable system. UNION decreases the entry barriers for retail users and lays the foundation for institutional investors. UNION’s full-stack DeFi protection is inclusive, composable, and brings battle-tested capital and pricing models from TradFi to the DeFi ecosystem.