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UMA Price

(UMA)

$0.367
0.00%(5m)

1m5m15m1h8h1d1W
UMA (UMA) Live Price Chart

    UMA Live Price Data

    The live price of UMA is 0.367, with a total trading volume of -- in the last 24 hours. The price of UMA changed by +1.1% in the past day, and its value has decreased by -3.67% over the last week. With a circulating supply of 91,723,994 UMA, the market cap of UMA is currently 0 , marking a +1.1% increase today. UMA currently ranks #527 in market cap.

    How do you feel about UMA today?

    Note: This data is for reference only.
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    UMA(UMA) Profile

    altRank527
    rateB
    Expand
    $0.362
    $0.371

    ATH
    $43.36929981
    Price Change (1h)
    -0.27%
    Price Change (24h)
    +1.10%
    Price Change (7d)
    -3.67%
    Market Cap
    24h Volume
    Circulating Supply
    91,723,994
    Max Supply
    101,172,570

    About UMA

    • What Is UMA (UMA) Crypto?

      The UMA Protocol is designed to provide decentralized services and infrastructure for building, testing, and deploying financial products within the web3 ecosystem. UMA lets developers create and implement decentralized applications (dApps) using smart contracts and an optimistic oracle system.

      UMA is built on the Ethereum blockchain, leveraging its capabilities for creating and executing smart contracts. It enables developers to leverage the Ethereum ecosystem to build and deploy financial products.

      The protocol utilizes an optimistic oracle system, which aims to bring various data types onto the blockchain securely. It employs economic incentives to verify and validate data for use within dApps.

      The UMA utility token is used within the protocol for securing the Optimistic Oracle and supporting governance functions of the UMA platform. It may play a role in incentivizing participants and governing the protocol's operations.

    • How Does UMA Protocol Work?

      UMA is a decentralized platform that lets developers build, test, and deploy financial products within the web3 ecosystem. It employs an optimistic oracle and dispute arbitration system to bring arbitrary data on-chain securely. Here’s how it works:

      Creating Financial Contracts

      Users can design and create self-executing, self-enforcing financial contracts on the UMA Protocol. Economic incentives secure these contracts and run on the Ethereum blockchain.

      Real-world Financial Derivatives

      The UMA Protocol allows counterparties to digitize and automate real-world financial derivatives such as futures, contracts for differences (CFDs), or total return swaps. These derivatives are implemented as smart contracts on the Ethereum blockchain.

      Priceless Financial Contracts

      UMA offers priceless financial contracts, smart contracts that only require an on-chain price feed in case of a dispute. Economic guarantees and network incentives ensure the honest behavior of participants in the system.

      Collateralized Synthetic Tokens

      UMA enables users to create unique collateralized synthetic crypto tokens that can track the prices of various assets. These tokens, represented as ERC-20 tokens, allow members to trade assets of any kind without needing direct access to those assets. Collateral sponsors lock collateral in a smart contract to mint synthetic tokens, which must remain over-collateralized to avoid liquidation.

      Governance and Voting Powered by UMA Token

      The UMA token, native to the Universal Market Access protocol, is primarily a governance token. Token holders can participate in governance by voting on UMA Improvement Proposals (UMIPs) and price requests to the Data Verification Mechanism (DVM). Those who vote with the majority consensus are rewarded with inflationary rewards.

    • History of UMA Protocol

      Hart Lambur is one of the co-founders of UMA and has played a significant role in developing and promoting the protocol. He has driven financial innovation in the decentralized finance (DeFi) niche by enabling global access to financial risk through UMA.

      The UMA Protocol was launched as an open-source project in June 2019. This marked the official release of the protocol to the public, allowing developers and users to access and contribute to its development.

      Additionally, in May 2020, UMA deployed its priceless token model by creating a synthetic coin that mirrored the price of Ethereum to Bitcoin. This showcased the ability of UMA to create synthetic assets based on the Ethereum blockchain.

      In November 2021, UMA launched the Across protocol, which provides insurance for transactions between layer 2 scaling products and layer 1 blockchains such as Ethereum. UMA partnered with Risk Labs to conduct a pilot liquidity mining program on its platform, further exploring its potential use cases.

    FAQ

    • How much is 1 UMA (UMA) worth?

    • Is UMA Protocol (UMA) a Good Investment?

    • What Is UMA Crypto Price Prediction?

    • What Is UMA Token Used For?

    • How to Stake UMA Crypto

    • Who Are UMA’s Partners and Investors?

    • What is the all-time high price of UMA (UMA)?

    • What is the all-time low price of UMA (UMA)?

    • How much UMA (UMA) is there in circulation?

    • How do I store UMA (UMA)?