UMA

Name

UMA

Summary

-UMA is an Ethereum (ETH)-based platform for the production of synthetic assets.
-It was founded by Hart Lambur and Allison Lu in 2018
-It employs a proof-of-work hash algorithm, Ethash.
-UMA's flexible oracle provides data for a variety of applications, including a cross-chain bridge, insurance, custom derivatives, and prediction markets.
-The UMA protocol also includes a number of smart contract templates, all of which are automatically secured by the protocol's optimistic oracle. Contract templates and integrations for the creation of synthetic tokens, prediction markets, "KPI options," and structured financial products are among them.

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Rating

BB

Symbol

UMA

Overview

In December of 2018, UMA was introduced, Synthetic assets are a type of asset that has the same value as different underlying assets. UMA allows users to design and implement self-executing, self-enforcing financial contracts that are secured by economic incentives, and then run them on the Ethereum blockchain.

UMA enables counterparties to digitize and automate any real-world financial derivatives, such as futures, contracts for differences (CFDs), and total return swaps. It also allows for the establishment of self-fulfilling derivative contracts based on digital assets such as bitcoins.
UMA's oracle system is made up of two main parts:
-Optimistic Oracle
-Data Verification Mechanism (DVM)
The Optimistic Oracle from UMA allows contracts to seek and receive price information fast. The Optimistic Oracle serves as a generic escalation game between contracts that commence a pricing request and the Data Verification Mechanism, UMA's dispute resolution system (DVM). The Optimistic Oracle's prices will not be forwarded to the DVM unless they are contested. This allows contracts to get price information in any predetermined amount of time without having to have the asset's price recorded on-chain.

Historical Price Movement (in INR)

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Technology

UMA is built on top of Ethereum's blockchain, which is safeguarded by the same proof-of-work hash algorithm, Ethash. UMA is an ERC-20 token. It uses solidity as its programming language.
The protocol employs a Complete Return Swap model, a bilateral contract in which one counterparty pays the total return of a specified underlying asset, including any interest or dividend payments and any capital appreciation or depreciation. On the other hand, the opposing counterparty pays a set cash flow regularly. The underlying asset is referred to as a reference asset, and the swap is settled and canceled at a future date.
Use of Native tokens in the ecosystem
UMA is an ERC-20 token used to govern the UMA protocol and vote on the price of an asset when the DVM oracle is called to dispute a collateral liquidation claim.

ICO

2%

Founder

48.5%

Developers

35%

Future Sales

14.5%

Volume (as of 21st March 2022)

$108,214,375

Total Supply

106337345

Circulating Supply

65,454,693.27 UMA

Crowd Sales

It has raised unknown amount of money in 3 funding rounds

Funding

1/01/2021:Venture Round-NA, 2/06/2020: Seed Round-NA, 14/02/2019: Seed Round-NA

Country

NA

Name of Organization

UMA

Year Incorporated

2018

Registered Address

NA

Dispute Resolution and Governing Law

NA

Country Risk Assessment

NA

Founding Team
NameDesignationEducationExperience
Hart LamburCo-FounderColumbia University in the City of New York: Bachelor of Science (B.Sc.), Computer ScienceUpper Canada College: High School17 Yrs
Allison LuCo-FounderMassachusetts Institute of Technology: B.Sc., Economics, Management (Finance)12 Yrs
Links
https://umaproject.org/
https://twitter.com/umaprotocol
https://discord.com/invite/jsb9XQJ
https://crebaco.com/planner/admin/uploads/whitepapers/uma-whitepaper.pdf