UMA
UMA
UMA
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UMA Timeline
UMA Token allocation
UMA BasicReport a Data Error
- May,2023UMA launched multi-chain governance tools, enabling UMA token holders to vote on governance proposals across different blockchains, further decentralizing the platform and enhancing scalability.
- Feb,2023UMA introduced V3 of the protocol, further optimizing the functionality of decentralized financial (DeFi) contracts, improving efficiency, performance, and security.
- Sep,2022UMA announced support for cross-chain synthetic assets, allowing users to create, manage, and trade synthetic assets across different blockchain networks.
- Jan,2022UMA introduced a decentralized synthetic asset market, enabling users to trade, manage, and create more priceless synthetic assets on the platform.
- Nov,2021UMA officially launched its decentralized autonomous organization (DAO), allowing UMA token holders to participate in the governance of the protocol, including decisions on upgrades, supported asset types, and contract governance.
UMA Info
- May,2023UMA launched multi-chain governance tools, enabling UMA token holders to vote on governance proposals across different blockchains, further decentralizing the platform and enhancing scalability.
- Feb,2023UMA introduced V3 of the protocol, further optimizing the functionality of decentralized financial (DeFi) contracts, improving efficiency, performance, and security.
- Sep,2022UMA announced support for cross-chain synthetic assets, allowing users to create, manage, and trade synthetic assets across different blockchain networks.
- Jan,2022UMA introduced a decentralized synthetic asset market, enabling users to trade, manage, and create more priceless synthetic assets on the platform.
- Nov,2021UMA officially launched its decentralized autonomous organization (DAO), allowing UMA token holders to participate in the governance of the protocol, including decisions on upgrades, supported asset types, and contract governance.
UMA Team
UMA Intro
UMA (Universal Market Access) is a decentralized financial contracts platform designed to enable universal access to financial markets through innovative infrastructure. UMA focuses on creating "priceless" financial contracts, which are decentralized finance (DeFi) contracts that minimize the reliance on oracles for pricing data. This approach addresses many of the security and scalability challenges that have plagued DeFi by reducing the need for on-chain price feeds, which are typically vulnerable to manipulation and inaccuracies.
The first contracts developed on UMA are priceless synthetic tokens, ERC20 tokens that can track any real-world asset or event while significantly reducing the need for on-chain price data. These tokens allow users to create and trade synthetic assets in a decentralized manner, providing a broader range of financial instruments without depending on centralized pricing oracles.
The UMA token plays a crucial role in the ecosystem. It serves two key functions. First, it powers the governance system, allowing token holders to participate in decision-making processes. UMA token holders can vote on which types of contracts are allowed on the platform, which asset types are supported, and other key system parameters and upgrades. This ensures that the protocol is governed in a decentralized manner, reflecting the interests of the community.
Second, the UMA token is used in the Data Verification Mechanism (DVM), which handles price requests when there are disputes over contract interactions. While the priceless methodology reduces the need for on-chain price data, certain scenarios still require price determination through the DVM. In these cases, UMA token holders fulfill price requests by voting on the correct price, helping to resolve disputes and ensure the integrity of the system.
Overall, UMA's infrastructure enables the creation of a wide range of synthetic assets while minimizing the risks associated with on-chain price data and oracles. The UMA token is essential for maintaining the governance and dispute resolution mechanisms of the platform, ensuring that the system remains decentralized and resilient.
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UMA Price Live DataReport a Data Error
UMA (Universal Market Access) is a decentralized financial contracts platform designed to enable universal access to financial markets through innovative infrastructure. UMA focuses on creating "priceless" financial contracts, which are decentralized finance (DeFi) contracts that minimize the reliance on oracles for pricing data. This approach addresses many of the security and scalability challenges that have plagued DeFi by reducing the need for on-chain price feeds, which are typically vulnerable to manipulation and inaccuracies.
The first contracts developed on UMA are priceless synthetic tokens, ERC20 tokens that can track any real-world asset or event while significantly reducing the need for on-chain price data. These tokens allow users to create and trade synthetic assets in a decentralized manner, providing a broader range of financial instruments without depending on centralized pricing oracles.
The UMA token plays a crucial role in the ecosystem. It serves two key functions. First, it powers the governance system, allowing token holders to participate in decision-making processes. UMA token holders can vote on which types of contracts are allowed on the platform, which asset types are supported, and other key system parameters and upgrades. This ensures that the protocol is governed in a decentralized manner, reflecting the interests of the community.
Second, the UMA token is used in the Data Verification Mechanism (DVM), which handles price requests when there are disputes over contract interactions. While the priceless methodology reduces the need for on-chain price data, certain scenarios still require price determination through the DVM. In these cases, UMA token holders fulfill price requests by voting on the correct price, helping to resolve disputes and ensure the integrity of the system.
Overall, UMA's infrastructure enables the creation of a wide range of synthetic assets while minimizing the risks associated with on-chain price data and oracles. The UMA token is essential for maintaining the governance and dispute resolution mechanisms of the platform, ensuring that the system remains decentralized and resilient.