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