UMA is the utility token of the UMA ecosystem, also known as Universal Market Access. The project is based on the objective of the creation of synthetic assets on the Ethereum mainnet. The project was first rolled out in 2018 and has undergone lots of developments since. UMA allows users to establish value by creating synthetic assets.
Synthetic assets are essentially securities that mimic the price action of an underlying asset but don’t require the owner to actually own that asset to trade it. UMA’s platform specifically enables users to create financial contracts around such synthetic assets and let them run on Ethereum.
UMA is a promising cryptocurrency because it seeks to democratize the derivative asset markets by allowing users to create financial contracts on the blockchain. It seeks to solve the problem with traditional financial institutions that impose huge barriers to entry to new users in terms of rules and regulations.
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UMA is the utility token of the UMA ecosystem, also known as Universal Market Access. The project is based on the objective of the creation of synthetic assets on the Ethereum mainnet.
8 Cr. UMA
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