What is UMA (UMA)? | UMA Crypto Explained in Under 60 Seconds
What is UMA (UMA)? Universal Market Access (UMA) is a protocol for the creation of synthetic assets and financial contracts on the blockchain. The Universal Market Access (UMA) Protocol is powered by the Ethereum token UMA.
▶ Search the Largest Crypto Token Video Database https://cryptodefirevolution.com/
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DeFi developers can build synthetic assets (collateral-backed tokens), allowing the digitization of real-world financial derivatives.
UMA uses Priceless DeFi Contracts, which are designed with mechanisms to incentivize proper collateralization of positions without requiring any on-chain price feed.
Optimistic Oracle is the “Data Verification Mechanism” (DVM) is used to resolve disputes of liquidations & settle synthetic token contracts upon expiration.
Why Use UMA?
- Quickly create synthetic assets with priceless contract templates.
- Create tokens that track the price of anything.
- Economic guarantees ensure your contract cannot be manipulated.
- Increase security and reduce costs with minimal on-chain transactions.
WEBSITE: https://umaproject.org/
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