UMA (UMA) Price

Name: UMA
Brand: Cryptocurrency
SKU: UMA
Price: 2.21 USD
Availability: InStock
Rating: 4,5 (6 reviews)

UMA

4,5

★

$2.21

3.46%

Today's Current Price in US Dollar

Market cap

181,036,791.0

Total volume

29,676,455

Circulating supply

81,859,604

Total supply

120,170,889

Buy / Long

Sell / Short

UMA stands as a pioneering decentralized platform designed for crafting financial instruments, offering global market participation.

The core innovation of UMA lies in its creation of “priceless” financial instruments: DeFi agreements engineered to significantly reduce reliance on oracles, addressing many of the vulnerabilities and scalability challenges that decentralized finance has faced. UMA's inaugural offerings are priceless synthetic assets: ERC20 tokens engineered to mirror any value, all while drastically cutting down the necessity for on-chain price information.

The UMA governance token functions in a dual capacity within the ecosystem:

Governance: Holders of UMA tokens play a pivotal role in determining the variety of contracts that can be introduced into the system, the types of assets that are permissible, and crucial decisions regarding system modifications and parameter settings.

Price inquiries: Although the “priceless” approach reduces the frequency of on-chain price queries, it does not completely remove the need for them. In scenarios where contract actions face challenges or disputes, UMA token bearers step in to resolve these through the Data Verification Mechanism, also known as DVM.

Ownership of UMA tokens grants individuals a voice in the governance of the community and equips them with the authority to arbitrate in contract disputes utilizing the DVM. These tokens are not intended to serve as investment entities.

Homepage: https://uma.xyz/
Twitter: UMAprotocol