HomeCoinsUMA (UMA)UMA’s Liquidation Opportunity Program | by Adrian Li | UMA Project |...

UMA’s Liquidation Opportunity Program | by Adrian Li | UMA Project | Aug, 2020

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Adrian Li

Over the past few weeks, Risk Labs gave away $2,000 in liquidation opportunities. These were presented as under-collateralized positions that can be liquidated, creating an incentive for liquidators to operate.

The goal was to encourage the community to run liquidation bots, helping to further secure the UMA protocol. These bots are essential to ensure that yUSD is fully backed by sufficient collateral.

The last $1,000 giveaway opportunity was liquidated only two blocks after the position became under-collateralized, and by the same account that snapped up the previous opportunity. There was even a failed transaction as evidence of competition as multiple people tried to liquidate the same position.

Based on the above success, Risk Labs is announcing an expanded program to further encourage more people to run liquidation bots as there is still a lot of room left for competition. This program will offer a total of $16,000 over the span of 8 weeks.

Each week, $2,000 will be available for two opportunity types:

  1. A weekly scheduled liquidation opportunity with a profit potential of $1,000 (half in WETH collateral + half in $UMA),
  2. A twice-weekly randomized liquidation opportunity each with a profit potential of $500 (half in WETH collateral + half in $UMA).

The first scheduled liquidation opportunity will be on Friday September 4th at 9am ET (New York Time). This will repeat every week for the duration of the program. Make sure to follow UMA on Twitter to be notified of the exact timing each week.

The position will be worth $500 USD worth of WETH collateral. If you are successful at liquidating this position, send us a message over Twitter or on our Discord server and we will reward you with another $500 worth of $UMA to the address of the liquidating account.

The UMA Discord Community has a dedicated channel for this program where you can ask questions to the team as well as other bot runners.

In order to encourage more people to run bots on a consistent on-going basis, Risk Labs will deploy two liquidation opportunities at random times throughout the week, each with $250 USD worth of WETH collateral.

As it is with the scheduled liquidation opportunity, we will reward you with another $250 USD worth of $UMA to the address of the liquidating account.

There will be no pre-announcement for the deployment of these opportunities. You will have to be running a liquidation bot throughout the week if you want to capture this profit opportunity.

The best place to start is our tutorial in the docs here, but you are also encouraged to join Discord and chat in the #liquidation-opportunity channel where you will get help from our team in running a bot.



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