UMA
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Information about UMA (UMA)
UMA describes itself as “an open-source protocol that allows developers to design and create their financial contracts and synthetic assets”. The name of this protocol is inspired by the goal of global market access – Universal Market Access (UMA), which seeks to democratize and decentralize financial markets based on blockchain technology. This is especially important for developing country economies, where financial institutions are underdeveloped and difficult to access by most people.
Hart Lambur and Allison Lu co-founded UMA. Hart Lambur is a computer scientist and co-founder of Risk Labs, responsible for developing the Universal Market Access protocol. Allison Lu holds a degree in Economics and Management from the Massachusetts Institute of Technology, is a financial advisor at One Daijo, and a former Vice President of Credit and Risk Analysis at Tala.
UMA is the official governance token operating in the UMA network, operating on the Ethereum platform according to ERC20 standards and can be used for the following purposes:
- Vote for price check requests from financial contracts
- Voting affects system changes and upgrades
News
UMA trading volume is $ 98.55m. Market capitalization reaches $ 300.59m.
UMA launches Oval to help DeFi protocols capture oracle extractable value
UMA has unveiled Oval, a MEV capture solution that the platform says will help DeFi protocols monetize the value that comes with the use of Chainlink oracle data.
MEV relates to the maximum value one can extract from a block, such as transaction reordering and exclusion.
UMA rises 209.12% in 1 week, hits the highest in 20 months
UMA, the token representing the value of the UMA ecosystem, has seen a strong surge in the past 24 hours.
Significant growth in the past few days helped UMA rise to 158,536 VNDC after a long sideways period at 30,500 – 62,000 VNDC.
UMA’s partnership with DappBack puts skyrocket price by 26%
UMA announced that they have partnered with DappBack which rewards users for participating in the development of Web3. This allows users to earn UMA tokens for completing even the most basic tasks like visiting websites and reading articles.
Right after the announcement, UMA doubled its initial price. Overall, the UMA token saw a price increase of 26.33% in the past 24 hours and grew by 108.67% over the last 7 days.
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