Before receiving rewards, a new developer mining participant must meet certain criteria. Meeting this criteria is intended to allow the program to allocate developer mining rewards correctly. This process is separate from initial whitelisting, and should be considered when a developer is ready to launch their contract.
This is the high-level developer mining onboarding process that you will need to follow.
- Deploy liquidation and dispute bots
- Ensure the availability of your synthetic token's price
- Send deployment information to the UMA core team
After deploying your contract, you will need to deploy liquidation and dispute bots to ensure the security of that contract. Instructions for bot deployment are here.
Currently supported price feeds for bots include:
If your contract's price identifier is not supported by the existing price feeds above, you will need to write a custom price feed that works within UMA's bot infrastructure. After writing this price feed, please follow the UMA contribution guidelines to submit a pull request here.
To calculate the correct number of rewards, it must be possible to determine the value of each synthetic token in a common base currency. Each synthetic token's value is converted to USD to determine the total value minted (TVM) by each contract. These TVMs are then used to determine how rewards should be allocated.
To perform this process, each synthetic token must have an available price feed in USD. Before receiving rewards, you must ensure that one of the following is available.
- Your synthetic token value in USD on CoinGecko. Here is an example for uUSDrBTC.
- Your synthetic token's price identifier and collateral currency on CryptoWatch. Here is an example for the ETH/BTC price identifier and for the BTC/USD collateral price. This method is usually available when your price identifier is composed of a widely used cryptopair.
The final step required to be added to developer mining rewards is to alert a member of the UMA core team of your successful deployment. To do this, fill out the google form here.
This form will ask for a variety of information including:
- Your deployed contract's address
- The wallet address that you would like developer mining rewards sent to
- Various contract parameters
You are also able to go back and edit your entry at any time. As an example, you are able to change the address that you will receive your developer mining rewards or the estimated contract launch date at any time. It is your responsibility to keep the form up to date to ensure correct payouts and bot support from the core team.
Please note that to be eligible for developer mining rewards, your contract parameters must meet certain requirements. These include:
collateralRequirementmust be above 1.2.
- Your price identifier must have a working price feed that has been added to the UMA price feed directory.
- Your price feed must have a method called
getHistoricalPricePeriodsto calculate historical prices for more than one week of time (example here), or your synthetic token must be listed on CoinGecko.
minSponsorTokensmust equate to between ~$100 and ~$2,500 in synth value at the time of contract launch.
A few additional parameters should generally be left as the default suggestion. If your contract's parameters do not use the defaults provided below, you may be asked for some additional clarification.
disputeBondPct: 0.1 (10%)
sponsorDisputeRewardPct: 0.05 (5%)
disputerDisputeRewardPct: 0.2 (20%)
Additionally, to be eligible for developer mining, you must deploy with the most recent contract factories available at the time of deployment. You will not be eligible if you deploy with a deprecated factory. Here are the most up to date mainnet contracts.