R

Relic

Founder

Market Resolution: How VEIL Ensures Fair Outcomes

February 20, 2024

Fair and accurate market resolution is critical to the integrity of any prediction market. VEIL uses a decentralized oracle system to ensure tamper-proof outcomes.

Decentralized Oracles

Rather than relying on a single source of truth, VEIL aggregates data from multiple independent oracles. Validators stake tokens and reach consensus on market outcomes through a voting mechanism.

Dispute Resolution

If market participants disagree with an outcome, they can initiate a dispute by staking tokens. The community then votes on the correct resolution, with economic incentives ensuring honest participation.

Security Guarantees

  • Multi-oracle consensus prevents single points of failure
  • Economic penalties for dishonest validators
  • Time-locked resolutions allow for dispute periods
  • Transparent resolution history on-chain