What is UMA (UMA)? Learn detailed information about UMA cryptocurrency

What is UMA?

UMA stands for Universal Market Access, which includes a lot of products, with the aim of making it possible for people to create DeFi products easily and quickly. These products are:

• Optimistic Oracle: Oracle works through the Data Verification Mechanism (DVM).
• Long Short Pair: Allows users to create products that cannot be liquidated, as well as cap limits through long/short position tokenization.
• Call/Put Options: Help users minimize risks in trading.
• Range Token: Enable DAO’s to diversify treasury without having to sell any assets.
• KPI (Key Performance Index) Options: Help the project create airdrops only if specific conditions are met
• Sucess Tokens: Help projects raise capital without lowering the price of tokens.

Highlights of UMA

UMA’s product set gives projects a wide choice in creating products. As of March 2022, there have been more than 70 projects and products using UMA.

Some characteristics when using UMA:

• Fast product launch time: You can create a financial contract easily through UMA’s available contract templates.
• There is no limit to creativity: UMA allows you to create products that suit any need.
• Absolute security: Security from UMA keeps the project safe, not compromised.
• Minimize the use of Oracle: Reduce the number of On-Chain transactions, thereby reducing project costs.

Benefits of holding UMA tokens

UMA token is ERC20 token used to administer the UMA protocol in the following two directions:

• Vote for price claims from financial contracts using DVM.
• Manage the UMA ecosystem by voting on parameter changes and approving system upgrades.

Project team, investors & partners

Project team

The project founder is Hart Lambur and Clayton. There’s not much that stands out about the two project founders, other than that Hart Lambur used to work for Goldman Sachs, a popular U.S. multinational investment bank.

Investors

UMA is invested by a number of names such as IOSG, Blockchain Capital, Amber Group,…

On July 10, 2021, UMA raised $2.6M for the Range Token product pilot. Investors include Amber Group, BitDAO, Blockchain Capital, Robert Leshner (Founder of Compound) and Wintermute Trading.

Partner

UMA has more than 70 partners using its products, brothers refer to here.

Roadmap & Updates

Updating…

UMA Token Information (UMA)

Key metrics UMA

• Token Name: UMA.
• Ticker: UMA.
• Blockchain: Ethereum, Avalanche.
• Token Standard: ERC-20, ARC-20
• Contract:
  • ERC-20: 0x04fa0d235c4abf4bcf4787af4cf447de572ef828.
  • ARC-20: 0x3bd2b1c7ed8d396dbb98ded3aebb41350a5b2339
• Token Type: Governance Token.
• Total Supply: 65,368,369 UMA.
• Circulating Supply: 106,251,021UMA.

UMA Token Allocation 

The total supply of 100 million UMA tokens will be distributed as follows:

• Initial Uniswap Listing: 2,000,000 (2.0%).
• Token Sales for the future: 14,500,000 (14.5%).
• Developers and users: 35,000,000 (35.0%).
• Founder, Early Contributors and investors: 48,500,000 (48.5%).

UMA Token Sale 

UMA spent 2% of its total supply equivalent to $535,000 in value in ETH for the public sale Uniswap. Known as the “Initial Uniswap Offering” at 10 p.m. on April 28, 2020 with an initial list price of $0.26/UMA.

UMA Token Release Schedule

In early 2021, the project team and investors agreed to extend the token payment period by two years from 2021, meaning the token will be paid off in early 2023.

How to earn and own UMA tokens?

You can own UMA through buying on the exchanges.

UMA Storage Wallet & Exchange

UMA Storage Wallet

UMA is an ERC-20 and ARC-20 token, so it can be stored on Coin98 Wallet in the following steps:

Step 1: At the main interface, select Receive.

Step 2: Enter UMA in the search box.

Tip 3: Copy the UMA wallet address and send the UMA token to this address.

UMA Exchange

UMA can now be traded on most CEX exchanges such as Binance, Huobi, Kucoin,… or on Coin98 Exchange. You can also trade UMA through the Swap section below.