UMA
Current price
$0.3770
−5.51%24h
LiveUpdated 23s ago
TodayUMA drops 5.5%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−1.05%
- 24 hours−5.51%
- 7 days−8.05%
- 30 days+4.80%
- 1 year−64.07%
UMA's move in context
Lagging the market today
−5.51% today against −3.24% for the market as a whole, a gap of 2.3 points. Small gaps like this are common, so they don't point to anything specific.
Trend has turned
−8.0% over 7 days and +4.8% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About UMA
Overview
UMA (Universal Market Access) is a decentralized finance (DeFi) protocol that enables the creation of synthetic assets on the Ethereum blockchain. Its primary mission is to provide equal access to financial markets for all participants, allowing users to create and trade any arbitrary asset on-chain without relying on a central authority. The distinguishing features of UMA include its decentralized price feeds and its unique collateralization mechanism, which allows users to unlock liquidity in crypto assets safely. By facilitating permissionless access to various financial instruments, UMA aims to democratize financial markets and empower users worldwide.
Technical Features
UMA utilizes a unique consensus mechanism based on an oracle system that provides accurate pricing for synthetic assets. The security model relies on decentralized oracles known as "priceless" oracles, which safeguard the protocol against price manipulation. The network architecture is built on Ethereum, leveraging smart contracts to automate governance and ensure operational transparency. One of UMA's key technical innovations is the use of a "Data Verification Mechanism" (DVM), which enables users to challenge oracle price feeds if they suspect discrepancies. This feature upholds the integrity and reliability of the synthetic assets created within the ecosystem.
Use Cases
UMA serves multiple use cases within the DeFi landscape. One primary application is the creation of synthetic assets that can track the value of real-world assets, thus enabling users to gain exposure without holding the underlying assets. Additionally, UMA facilitates decentralized governance through the issuance of governance tokens, allowing its community members to participate in key decision-making processes. The protocol can also be employed in yield farming, where users can earn rewards by providing liquidity for synthetic assets. Furthermore, UMA's technology can be utilized in cross-border payments, asset management, and various financial derivatives, making it a versatile tool for creating innovative financial solutions.
Development Background
UMA was co-founded by Hart Lambur and Allison Lu in 2018, with the vision to unlock the potential of DeFi through its synthetic asset offerings. Supported by the UMA project’s founding team are numerous contributors from the blockchain community who have played a role in its development. The protocol was launched in early 2020 amid growing interest in DeFi applications. Significant milestones include the introduction of its governance model and several successful funding rounds that solidified its position within the DeFi space. Notable events include partnerships with various projects in the ecosystem, enhancing UMA's adoption and use cases.
Community and Ecosystem
UMA has cultivated a vibrant community of developers, investors, and users committed to expanding its ecosystem. Support from the broader Ethereum community, along with alliances with various DeFi projects, has facilitated the launch of several applications built on the UMA protocol. UMA's community engages in governance through token-based participation, allowing members to propose and vote on improvements and new features. Partnerships with leading DeFi protocols and platforms enable seamless integration and provide users with diverse options for utilizing UMA's synthetic asset capabilities.
Future Potential
The future potential of UMA is promising, with its innovative technology addressing existing barriers in the financial ecosystem. As the demand for decentralized financial instruments continues to grow, UMA aims to expand its synthetic asset offerings and enhance its oracle solution. Upcoming features outlined in its roadmap include improved scalability and user experience, as well as strategic collaborations to increase liquidity and broaden market reach. With its focus on accessibility and innovation, UMA is well-positioned to impact DeFi markets greatly and redefine how users interact with financial products.
UMA market
- Position by market cap among the coins we track.
- #271
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $34.99M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.3730High $0.4020
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $41.56
- Now 1% of itReached 4 Feb 2021 · Needs +10,924% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 92.81M UMA
- 78% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 131.53M UMA
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 118.33M UMA
- The most coins that can ever exist. Some coins have no limit.
UMA converter
1 UMA = $0.3770
