OneTree is the newest KPI option from UMA Protocol, a eco-friendly and charitable KPI that will pay out based on the number of retweets. Each OneTree KPI option is collateralized with 1 USDC. After expiration, each KPI option will settle to be worth between 0 and 1 USDC. If 10,000 retweets are made, the contract will settle for 1 USDC. If less than 10,000 retweets are made, the collateral will settle based on the number of retweets between 0 and 10,000.
KPI options are synthetic tokens that will pay out more rewards if the KPI grows to predetermined targets before a given expiry date. OneTree is a KPI Option that will pay out based on the number of retweets that the original OneTree tweet achieves until expiry on March 31, 2022. This is intended to be used as a way to incentivize RTs and is for a charitable benefit.
Retweet this to plant a tree. This is actually real. Read more to understand how it works! tl;dr = One retweet equals one tree!
This innovative idea will works because Risk Labs created an ERC20 token calibrated to pay out $1 to TheGivingBlock on behalf of onetreeplanted for each retweet this tweet thread gets. It’s not just “a promise to pay.” It’s a trustless and unstoppable contract that WILL pay.
I really want to help and to make it happen I done my first ever Tweet in my native language! This is the first tweet in Romanian since 2015, and is all for a greater cause ... to plant trees and create a better tomorrow!
$10,000 have been locked by the Risk Labs foundation in a smart contract on the Polygon chain. Who can unlock those funds depends on the number of retweets on the first tweet. If will reach 10,000 RTs, then TheGivingBlock can unlock them all and onetreeplanted will receive them in full
If it doesn't reach 10,000, then the Risk Labs Foundation will unlock any that are left. For example, if the OneTree tweet hit 8,000 RTs, then TheGivingBlock will get $8,000 and Risk Labs will reclaim the excess $2,000.
The "OneTree" campaign started only 3 hours ago and reached 242 re-tweets while I was writing this article. It costs you nothing to plant a tree and be ensure a better tomorrow for the future generations. Re-tweet and add another dollar to this charitable event!
This token design is called a "KPI Option." You might have seen them used for DAO incentives. The moment that you’re reading this, these assets have been deployed and there is no way for Risk Labs to “break their promise.”
The $10,000 is locked in the collateral contract. These contracts have been audited and battle-tested, 12+ months and $100+ million later. The only places these dollars are going is to plant trees or back in RL’s pocket, and only after March 31st. But we haven’t gotten to the powerful part yet.
The powerful part is: UMA built a way to trust the data about the above promise--The number of RTs. Because what if Risk Labs wanted to lie and say it only got 10 RTs? What would stop them from doing that? After all, they might want $9,990 back plus the free marketing.
What UMA built is an optimistic oracle powered by game theory. Anyone at all can both propose or dispute a proposed answer to “How many RTs did the tweet get?” If a dispute happens, UMA token holders will bring the entire $UMA market cap down to bear on the answer.
But what happens if Risk Labs holds a bunch of UMA tokens? Couldn’t they lie to affect the outcome? Imagine they do. Imagine they lied to save the $9,990. Risk Labs would need to control or bribe somewhere in the area of $250M worth of $UMA to do it. And by doing that, everyone would lose faith in the $UMA oracle.
The Optimistic Oracle will solve three three major aspects that will help any project, DAO or organization:
- Dispute Resolution: Full recourse for inaccurate or manipulated data. You don't get burned by bad feed
- Flexible Identifiers: Get any kind of data from any public source. No limits to what you can build
- Economic Guarantees: All identifiers, small or large, share the full security of UMA's dispute resolution system.
So would they throw $250M to save $9.9K? No. This is what is called an “economic guarantee.” It is game theory 101. The economic guarantees that UMA offers are of this sort: It’s always less profitable to lie. This oracle is already being used across Web3: to resolve disputes about security (HatsFinance or Sherlockdefi), information markets (polymarketHQ) or for cross-chain bridging (Aacross Protocol). It has been used to offer spaceship insurance and now, to plant trees.
Here are the details-- This is what UMA tokenholders will look at to evaluate the outcome:
https://github.com/UMAprotocol/UMIPs/blob/master/Implementations/OneTree-KPI.md
Here is the contract on UMAverse:
https://projects.umaproject.org/polygon/0xaF1B8941EFcEAdA7FBf42CdeaFCE4C1A272D65fE
And here is TheGivingBlock’s address holding the LONG tokens:
https://polygonscan.com/address/0xec4005b0bef9542f73efdc1666290bad772c0ba9
How to join the SuperUMAns?
The SuperUMAns are the community’s ninja troops and the people who bring the community to life. All you have to do to become a superUMAn join our brand new Discord channel and put your talents to good use! There is always room for another superUMAn!
To join the community behind this powerful technology, check out the UMA DAO at http://discord.umaproject.org and the supporting evangelist DAO, the SuperUmans at http://discord.gg/superumans.
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