CryptoCurrencies
115
Exchanges
484
Total Market Cap
823,207,025,130
Volume 24h
87,111,528,263
Dominance
BTC 38.47%   ETH 17.68%   USDT 7.94%   BNB 5.99%

UMA
UMA

1.670
$
1.39 %
Change 24h
Market Cap
$ 115,780,857
Volume 24h
$ 8,212,353
Circulating Supply
69,201,828
Total Supply
109,030,823
UMA
$
# Exchange Pair Price Volume 24h

Description

UMA is a decentralized financial contracts platform built to enable Universal Market Access. UMA builds infrastructure for “priceless” financial contracts: DeFi contracts that minimize oracle usage, avoiding many of the security and scalability issues that have plagued decentralized finance. The first contracts built with UMA are priceless synthetic tokens: ERC20 tokens that can track anything while minimizing the need for on-chain price data. The UMA project token powers the system in two ways: Governance: UMA token holders govern what types of contracts can access the system, which asset types are supported, and key system parameters and upgrades. Price requests: the priceless methodology minimizes on-chain price requests but doesn’t eliminate them — when contract interactions are disputed, UMA token holders fulfill price requests via the Data Verification Mechanism, or DVM. UMA tokens enable the holder to participate in community governance and resolve contract disputes through the DVM. The tokens are not an investment opportunity.