From November 25th, we officially list UMA Token (UMA) on the ONUS application. Soon after UMA is added, users can perform the following features:
- Off-chain transactions: Send and receive UMA with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to UMA and vice versa.
UMA describes itself as “an open-source protocol that allows developers to design and create their own financial contracts and synthetic assets.” The protocol’s name comes from the team’s goal of creating Universal Market Access (UMA), which seeks to democratize and decentralize financial markets based on blockchain technology. This goal is essential for developing countries’ economies, where most people find financial institutions underdeveloped and difficult to access.
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 & Risk Analytics at Tala.
What is UMA Token?
UMA is a governance token of the UMA ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
- Vote for price check requests from financial contracts
- Vote for affects system changes and upgrades
- Name: UMA Token
- Symbol: UMA
- Platform: Ethereum
- Standard: ERC20
- Type: Governance Token
- Smart Contract Address: 0x04Fa0d235C4abf4BcF4787aF4CF447DE572eF828