What is UMA (UMA) ?

UMA Official Logo
UMA Official Logo

Universal Market Access or UMA, short for universal market access, is a protocol built on Ethereum which allows users to create custom collateralized synthetic cryptocurrency tokens that can track the price of virtually anything. UMA is used as a governance token for the UMA system. It is also used to fulfill price requests made on the UMA protocol. In plain English, UMA lets you trade any asset using ERC-20 tokens without having actual exposure to the asset itself. A user can generate and create smart-contract governed meta-tokens based off of a derivative, and then take a position long or short of that asset without needing to hold the underlying asset. UMA puts derivatives on the blockchain. It creates a synthetic token for the asset when sufficient collateral is deposited, creates the contract terms for the issued token, and enforces them using financial incentives.

Original author – Hart Lambur, Allison Lu
Initial release
 – December 2018
Development status – Active

Website – umaproject.org

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