UMA
UMA is a decentralized financial contract platform designed to enable inclusive market access.UMA builds infrastructure for “priceless” financial contracts: these decentralized financial contracts minimize the use of oracles as much as possible, thereby avoiding many of the security and scalability issues that have plagued decentralized finance. Using UMA the first contracts built are priceless synthetic tokens:ERC20 tokens can track anything while minimizing the need for on-chain price data.UMA The project’s token powers the system in two ways: Governance:UMA token holders are responsible for governing which types of contracts can access the system, which asset types are supported, and key system parameters and upgrades. Price requests: The priceless method minimizes on-chain price requests but does not eliminate them entirely—when contract interactions are disputed,UMA token holders fulfill price requests through a data verification mechanism, namely DVM。 UMA tokens enable holders to participate in community governance and, through DVM resolve contract disputes. These tokens are not an investment opportunity.
Overview
UMA is a decentralized financial contract platform designed to enable inclusive market access.UMA builds infrastructure for “priceless” financial contracts: these decentralized financial contracts minimize the use of oracles as much as possible, thereby avoiding many of the security and scalability issues that have plagued decentralized finance. Using UMA the first contracts built are priceless synthetic tokens:ERC20 tokens can track anything while minimizing the need for on-chain price data.UMA The project’s token powers the system in two ways: Governance:UMA token holders are responsible for governing which types of contracts can access the system, which asset types are supported, and key system parameters and upgrades. Price requests: The priceless method minimizes on-chain price requests but does not eliminate them entirely—when contract interactions are disputed,UMA token holders fulfill price requests through a data verification mechanism, namely DVM。 UMA tokens enable holders to participate in community governance and, through DVM resolve contract disputes. These tokens are not an investment opportunity.