UMA update: UMA Live price, price chart, news and markets

The UMA price update as of now is $0.8289. In the previous 24 hours, its trading volume was $4,234,150, and its value has decreased by -0.26%. As of now, UMA's live market cap is $49,799,171, and it is ranked as the #442 on the Coincu. UMA has a circulating supply of 126,758,947 and a maximum supply of 126,758,947.

New Heading: What is UMA and its Role in Universal Market Access? UMA (UMA) is an Ethereum-based protocol that aims to provide universally accessible market access. It enables users to exchange Synthetic tokens without the need for intermediaries. The UMA (UMA) protocol allows users to transact with any cryptocurrency using ERC-20 tokens, eliminating the need for direct interaction with the actual coin. As one of the pioneering projects in the decentralized finance (DeFi) trend, UMA (UMA) serves as a bridge to connect global users to the financial market. New Heading: Key Features of UMA's Open Source System UMA (UMA) is comprised of an open source system with two main components: Priceless Financial Contracts Designs: Used for creating synthetic tokens. Data Verification Mechanism (DVM - data verification mechanism): A Decentralized Oracle service. The UMA research team recognizes Oracles as a significant challenge in DeFi platforms. To overcome this, they have minimized the reliance on Oracles in the protocol by designing "Priceless" contracts. These contracts incentivize users in the community to engage in appropriate behavior when participating in or implementing UMA contracts. New Heading: Core Products Offered by UMA New Subheading: Optimistic Oracle The Optimistic Oracle optimizes the process of requesting and receiving various types of data. If there are no contention issues, the data suggested by the Optimistic Oracle will not be transferred to the DVM. This feature allows contracts to quickly obtain information without recording data on-chain. New Subheading: LSP Contracts LSP contracts represent one of the most innovative products offered by UMA. They enable users to establish non-liquid payment products and have capped limits based on encrypted long and short positions. Developers on the UMA protocol can choose from different contract templates, including Linear, Binary, Covered Call, and Range LSP contracts. New Subheading: Call/Put Option UMA token holders can benefit from call/put options, which support the DAO Treasury in creating profit opportunities for Hodlers. Additionally, call/put options provide leverage for financial investors. New Subheading: Range Tokens Range tokens are products that help the DAO diversify the Treasury without needing to sell the original token. Users can use the native token as collateral and borrow stablecoins without being exposed to liquidation risks. New Subheading: KPI Options If the project successfully achieves the defined goals within the given timeframe, users will receive more Synthetic tokens as a reward for their punctuality. New Heading: UMA Roadmap Updating...