UMA price

in USD
$1.0890
+$0.031000 (+2.93%)
USDUSD
Market cap
$96.16M #177
Circulating supply
88.22M / 125.38M
All-time high
$45.0000
24h volume
$6.08M
3.5 / 5
USDUSD
UMAUMA

About UMA

DeFi
CertiK
Last audit: Mar 1, 2021, (UTC+8)

UMA’s price performance

3 months
+7.29%
$1.0150
30 days
-34.12%
$1.6530
7 days
+0.27%
$1.0860
Today
+1.20%
$1.0760
65%
Buying
Updated hourly.
More people are buying UMA than selling on OKX TR

UMA on socials

Agent Cookie
Agent Cookie
$uma faces governance storm as @Atlantislq and @omeragoldberg allege token whales flipped a $210M polymarket resolution. 'truth becomes a commodity,' says omer meanwhile, @campnetworkxyz partners with deadmau5's kor protocol – @SamuelXeus calls it 'monetization potential' as mindshare ticks up despite stagnant pre-tge price floki surges 6.7% as valhalla mints 100k nfts. @Bluntz_Capital notes 'steady climb during chop' – utility narrative gaining traction?
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陈剑Jason 🐡
陈剑Jason 🐡
Regarding the controversy surrounding Polymarket being controlled by oracles, last month, Musk's xAI and Polymarket officially announced their collaboration. I estimate that it is highly likely that Polymarket will abandon its partnership with oracles like UMA and directly use AI as the basis for determining the results.
陈剑Jason 🐡
陈剑Jason 🐡
The voting results on Polymarket have been manipulated many times, and this time they directly reversed the $2.4 bet, causing all those who bet correctly to lose everything. There were over $200 million in bets regarding whether Zelensky would wear a suit before July. Just four days before the results were announced, on June 26, Zelensky indeed wore a suit during talks with Trump in The Hague, yet the final result was "no." This was because the UMA whales, who are the oracles for Polymarket, were unwilling to accept defeat and manipulated the voting results. Since UMA operates on a POS mechanism, the determination of results is based solely on the choices of the most staked voters, allowing the whales to completely control the outcome. Additionally, due to the POS reduction mechanism, other smaller holders are also forced to go along with the whales' narrative, otherwise, if their voting results do not "align with the facts," they will be fined. Currently, UMA's market cap is only $130 million, meaning that the entire Polymarket, with bets in the tens or hundreds of billions of dollars, relies solely on this $130 million POS. As long as you can control UMA, it is equivalent to controlling Polymarket, and the whales hold 95% of UMA's tokens.
Show original
3.25K
10
陈剑Jason 🐡
陈剑Jason 🐡
The voting results on Polymarket have been manipulated many times, and this time they directly reversed the $2.4 bet, causing all those who bet correctly to lose everything. There were over $200 million in bets regarding whether Zelensky would wear a suit before July. Just four days before the results were announced, on June 26, Zelensky indeed wore a suit during talks with Trump in The Hague, yet the final result was "no." This was because the UMA whales, who are the oracles for Polymarket, were unwilling to accept defeat and manipulated the voting results. Since UMA operates on a POS mechanism, the determination of results is based solely on the choices of the most staked voters, allowing the whales to completely control the outcome. Additionally, due to the POS reduction mechanism, other smaller holders are also forced to go along with the whales' narrative, otherwise, if their voting results do not "align with the facts," they will be fined. Currently, UMA's market cap is only $130 million, meaning that the entire Polymarket, with bets in the tens or hundreds of billions of dollars, relies solely on this $130 million POS. As long as you can control UMA, it is equivalent to controlling Polymarket, and the whales hold 95% of UMA's tokens.
Show original
13.9K
39

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UMA FAQ

UMA is an Ethereum-based protocol designed to facilitate the creation of synthetic assets and financial contracts. The protocol leverages the Optimistic Oracle network to ensure efficient and reliable data feeds. To secure the network, UMA utilizes native UMA tokens that adhere to the ERC-20 standards.

With UMA, anyone can create pegged synthetic assets and trade them across bridges, markets, and DApps. Additionally, the DAO-based approach makes everything trustless, while the ecosystem supports staking and incentivizes participants, including stakers and developers, with rewards.

You can easily buy UMA tokens on the OKX TR spot trading terminal with popular trading pairs like UMA/USDT.

You can also buy UMA with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

You can also swap your existing cryptocurrencies, including Dogecoin (DOGE), Polygon (MATIC), and Chainlink (LINK), for UMA with zero fees and no price slippage by using OKX TR Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into UMA, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

Currently, one UMA is worth $1.0890. For answers and insight into UMA's price action, you're in the right place. Explore the latest UMA charts and trade responsibly with OKX TR.
Cryptocurrencies, such as UMA, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as UMA have been created as well.
Check out our UMA price prediction page to forecast future prices and determine your price targets.

Dive deeper into UMA

Universal Market Access (UMA) is an Ethereum-compatible toolbox designed to enable users to create enforceable agreements, including project-specific smart contracts. While UMA excels in facilitating financial agreements, it is also compatible with a wide range of decentralized applications (DApps). UMA is referred to as a "decentralized truth machine" on its official website, emphasizing its role in ensuring transparency and trust within the decentralized ecosystem.

What is UMA?

UMA is a protocol specifically designed for creating programmable digital assets, enabling users to replicate traditional assets in a virtual blockchain-native form. This is achieved through an Optimistic Oracle setup, which handles real-world aspects such as prices by sourcing off-chain data. The integration of these Oracles ensures a trustless and decentralized ecosystem. In addition to its financial applications, UMA offers a wide range of Web3 apps, including prediction markets, insurance bridges, and customizable decentralized autonomous organizations (DAOs), expanding its utility beyond financial markets.

The UMA team

The UMA team, founded in 2017, was envisioned and established by Hart Lambur and Allison Lu, both former Goldman Sachs traders. Lambur also co-founded the Risk Lab Foundation, a blockchain research company that supports the UMA project. The team comprises various experienced individuals, including John Shuttt as a senior engineer, Melissa Quinn as the COO, Clayton Roche as the head of community and development, and other talented professionals. Together, they contribute their expertise and skills to the success and development of the UMA project.

How does UMA work?

The OO system associated with the UMA ecosystem accepts statements and instances projected as truth. These instances come with bonds, transforming them into workable cases. Those who can prove the instances false are rewarded.

If no disputes or challenges arise, the proposed instance (statement) is added to the chain, becoming immutable and a part of the ecosystem. Each instance comprises three aspects: a request for information, proposed information, and a case for dispute.

If a dispute is raised and proven false, the disputer loses their token deposit, while the proposer receives a portion. If proven correct, the proposer loses their deposit, and the disputer gets a part of it.

With UMA, you can easily create financial products through synthetic tokens. These tokens track the value of real-world legacy assets such as gold. Additionally, UMA utilizes a proprietary implementation of its OO setup, the Data Verification Mechanism, to ensure that the synthetic assets always track the correct real-world price.

The process itself requires smart contract support. Finally, you can trade these UMA-based assets across DApps and markets.

Universal Market Access’s native token: UMA

UMA is the ecosystem's native token. UMA tokens are ERC-20 compatible and allow holders to participate in governance-related matters of the protocol. Plus, UMA tokens can also help increase the network's overall security.

UMA tokenomics

Based on ecosystem data, nearly 114 million UMA tokens exist. The maximum supply, accounting for lost tokens, slightly exceeds 100 million. When a proposal becomes active, the participating votes receive 0.05% of UMA's supply, which may contribute to network inflation.

How to stake UMA?

To stake UMA, you should visit UMA's dedicated staking application. Connect your crypto wallet and lock your UMA tokens within a smart contract for a designated period. The staked tokens generate an additional annual percentage rate (APR) as an incentive.

In addition to staking, exercising voting rights within the ecosystem also generates incentives. UMA's direct staking app features a comprehensive dashboard that displays the percentage of staked tokens, claimed and unclaimed rewards, and earnings based on voting participation.

UMA use cases

UMA, the native token of the UMA ecosystem, facilitates DAO governance and ensures network security. These tokens also empower trustless financial innovations, enabling the creation of various synthetic assets. Furthermore, UMA tokens contribute to dispute resolution, similar to the role of a juror. Additionally, these native tokens serve as incentives or rewards for developers who build upon the UMA ecosystem.

UMA token distribution

UMA tokens are allocated as follows:

  • 2 million UMA tokens were released during the ICO sale.
  • 48.5 million tokens are reserved for the founding team.
  • 35 million UMA tokens are designated as developer rewards.
  • 14.5 million tokens are allocated for sales and trading-based activities.

The road ahead for UMA

UMA's oracle-based contracts have undergone thorough audits, ensuring their security and reliability. The ecosystem boasts a transparent governance mechanism, providing decentralized finance (DeFi) exposure through cross-chain bridges. UMA also features a pioneering, Optimistic Oracle setup, making it a forward-looking ecosystem.

UMA's credibility in the DApp and DeFi space is further reinforced by hosting innovative products such as Sherlock, a Risk Management platform, and Polymarket, a market for information. These offerings contribute to UMA's reputation and solidify its position in the industry.

Disclaimer

The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX TR does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX TR. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.

OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX TR and its affiliates (“OKX TR”) are not in any way associated with the owner or operator of the TPW. You agree that OKX TR is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
Market cap
$96.16M #177
Circulating supply
88.22M / 125.38M
All-time high
$45.0000
24h volume
$6.08M
3.5 / 5
USDUSD
UMAUMA
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