What is Developer Mining?

UMA Developer mining is an incentives program designed to incentivize idea creation and ‘buidling’ on UMA, allowing devs to earn ownership in a network that they help create.

Starting on November 10th, the Risk Labs foundation will pay out 50,000 $UMA weekly to developers that deploy synthetic assets using UMA. Each developer’s share of the rewards will be weighted by the value locked in their synthetic asset contract: the more popular a synth is, the greater share of the weekly rewards that the developer will receive.

What can you build?#

The types of products that can be built on UMA are at times overwhelmingly broad: you can build any type of financial contract, and that is admittedly vast (and exciting!).

Some product ideas to get you started:

  • Synthetic ETH gas product
  • BTC volatilility tracker (a "crypto VIX")
  • San Francisco Real Estate prices tracker
  • A gold futures contract

These ideas are still "up for grabs" but are by no means the limits of what a developer could build or receive rewards for. Developers are encouraged to ideate on their own ideas and, when ready, follow the steps below to get started.

Getting started#

The ideas above, along with any other financial contract idea a developer can think of, are still "up for grabs". To get started, a developer should settle on an idea to build, test the contract idea by launching a contract with UMA's Kovan contracts and then apply to the developer mining whitelist. The whitelist is a lightweight process and is primarily intended to discourage non-productive products, such as ones that might be designed to soak up rewards but with no actual utility or transfer of risk.

Whitelisted developer mining participants include:

Additional resources#

Next Steps#

  • Review the technical requirements for program onboarding.
  • Explore how you can design your own incentives program with developer mining rewards.
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