What is UMA (UMA)?
Universal Market Access (UMA) is a protocol for the creation of synthetic assets and financial contracts on the blockchain. The Universal Market Access (UMA) Protocol is powered by the Ethereum token UMA.
DeFi developers can build synthetic assets (collateral-backed tokens), allowing the digitization of real-world financial derivatives. UMA uses Priceless DeFi Contracts, which are designed with mechanisms to incentivize proper collateralization of positions without requiring any on-chain price feed.
Optimistic Oracle is the “Data Verification Mechanism” (DVM) is used to resolve disputes of liquidations & settle synthetic token contracts upon expiration.
Why Use UMA?
– Quickly create synthetic assets with priceless contract templates.
– Create tokens that track the price of anything.
– Economic guarantees ensure your contract cannot be manipulated.
– Increase security and reduce costs with minimal on-chain transactions.
Website: https://umaproject.org/
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