UMA announced the launch of a new DeFi contract design that minimizes the use of oracles by introducing a game mechanism between liquidators and disputers, and can properly mortgage positions without any on-chain feeding. Specifically, these mechanisms include settlement and dispute processes that allow counterparties to be rewarded for identifying bad collateral. Unless the position is liquidated, it is considered to be solvent (appropriate mortgage). In this design, UMA’s synthetic tokens are called synthetic tokens that do not require on-chain feed.It uses a mechanism that allows anyone to liquidate assets with substandard mortgage rates. Determine whether to liquidate the position yourself on the off-chain price of the token. Disputes are rewarded once they find the liquidation to be invalid. Therefore, a prophecy machine is needed only when the settlement is disputed. If the price returned by the oracle shows that the disputer is correct, a fine paid by the liquidator can be obtained for the disputer. Conversely, if the disputer proves to be incorrect, the disputer will lose the deposit to the liquidator. Currently UMA allows users to deploy and track a series of synthetic tokens on the testnet, including real-world assets (such as US dollars, various fiat currencies, gold, oil, and SP500), cross-chain crypto assets, Bitcoin / Alzheimer Advantage tracker, and tracking Tokens of the total collateral locked in the DeFi project (such as Uniswap or Compound), tokens of non-tradable indices (such as Poopcoin tracked to find stool in SF). UMA will launch the mainnet in the second quarter.