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.
Post an idea in UMA's Discourse ideas bank, create a discussion around the idea and if it is a viable product, we will include it in developer mining once launched on mainet.
Whitelisted developer mining participants include: