Voting

The Voting Cycle

UMA stakers vote on disputed proposals in voting cycles lasting 48 hours, split into two 24-hour phases:

1. Commit Phase – the first 24 hours, when users submit their vote by encrypting it onchain

2. Reveal Phase – the second 24 hours, when users decrypt and publish their vote

Once the Commit Phase ends, the Reveal phase begins. After the Reveal Phase ends, a new voting cycle begins. Only one voting cycle runs at a time. Disputes raised during a cycle will be voted on in the next one, which may be anywhere from 0 to 48 hours later.

You can recommit your vote as many times as you like during the Commit Phase.

Voting Power: Voting power is based on the amount of UMA you have staked when you commit your vote.

Reveal Phase: Votes that are not revealed will not be counted.

In vote.uma.xyz, you can find Active Votes, Upcoming Votes, and Recent Past Votes. You’ll also see the current voting phase and how much time remains to commit or reveal your vote.

When Voting

When voting, you’ll choose from one of the following options:

Option	Definition	Description
P1	No	The market resolved to "No."
P2	Yes	The market resolved to "Yes."
P3	Unknown	The market resolved as "Unknown." Each share can be redeemed for 50 cents.
P4	Early Proposal	The proposal was too early.
Custom Answer	Custom Answer	Custom Answer is rarely used.

There's often confusion between P4 and P1. P4 means the event hasn't happened yet but the deadline hasn't passed. P4 does not resolve the market, unlike P1, P2, or P3. It effectively defers judgment until the deadline, functioning as a provisional No.

Voting Discussion

When voting, you can also view the discussion. Focus on the quality of the evidence and reasoning presented. Be aware that some users may repeat the same points to influence opinion. Always do your own research before making a decision.

Israel x Iran ceasefire before July Discussion Thread

Proposal Resolution

After the Reveal Phase ends, the UMA Oracle resolves to the winning vote. However, for a proposal to resolve, two conditions must be met:

1. The winning vote must meet quorum (5m tokens)

2. The winning vote must meet consensus (>65% of staked UMA)

During the Reveal Phase, voters gradually reveal their encrypted votes. You can track how vote totals evolve in real time.

Why is the quorum so low compared to the consensus?

The quorum was set a long time ago and does not automatically adjust based on the total number of staked UMA tokens, unlike the consensus threshold, which is calculated as a percentage of participating stake. As a fixed parameter, the quorum remains at 5 million tokens unless explicitly changed through a governance vote. This design means that over time, as the total staked supply grows, the quorum may appear relatively low unless updated through formal proposal and approval.

What happens if a vote doesn’t meet quorum or consensus?

If a vote fails to meet either condition, it will roll over to the next voting cycle. The most times a proposal has been rolled over is three, but it can roll over up to four times. A rollover means the voters will vote on the resolution again. In rollovers, voters can reevaluate any existing or new evidence and change their vote. Because the initial vote did not meet quorum or consensus, it is not counted. Polymarket can step in if the delay is causing problems for resolving a market.

What happens to voters who did not vote for the winning option?

Voters who did not vote for the winning option will have 0.1% of their staked UMA slashed. Stakers who fail to vote on a dispute at all will also incur a 0.1% slash.

During the Reveal Phase, even if quorum and consensus are reached, the phase must still fully complete before the resolution is finalized.

What's Next

Now that you understand the voting process, take a moment to review the glossary of key terms.