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UMA

UMA UMA Price $ 2.59

Rank: 250

1047 Watchlists

Blockchain Infrastructure

UMA Price

2.59
0.65%
(-$ 0.017)
Price Range
LowHigh
$ 2.56$ 2.69

General Info

Contracts/Explorers:

Explorers

Tags (Sub-Categories):

#Token

Funds and Backers

Description

UMA is a decentralized financial contracts platform built to enable Universal Market Access.

UMA (UMA) Chart

UMA price Index provides the latest UMA price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

UMA to USD Converter

UMA (UMA)UMA

UMA Price Statistics

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Market Cap

$ 211.26M

Fully diluted value

FDV

$ 310.55M

ATH Market Cap

$ 2.36B

24 Trade Vol.

$ 10.74M


Vol. (24h) / MCap

0.0508

Max Supply

UMA 114,588,897

Total Supply

UMA 119,856,208

Circulating Supply

UMA 81.53M

(71.2% of Max Supply)

Listing Date

25 May 2020

All Time High

$ 42.41

4 Feb 2021


All Time Low

$ 1.17

26 May 2020


From ATH

93.9%

From ATL

121.9%

What is UMA (UMA)?

The UMA protocol allows its users to create collateralized synthetic tokens for tracking the price of nearly anything. These contracts are designed to be self-enforced and self-executed. No exposure to the token itself is needed and everything can be traded as ERC-20 tokens. This solution makes derivatives (financial contracts that derive their performance from another underlying entity; for example, futures) more accessible, as well as open new possibilities to the world of DeFi (Decentralized Finances).

The main difference between synthetic tokens and real-life derivatives is that the former mainly tokenizes the relationship instead of being directly connected to the asset itself.

Synthetic tokens require 3 elements to function: a price identifier, (unless it’s a perpetual contract) and a collateralization requirement. UMA smart contract (Token Facility) is used for setting the elements mentioned above. Economic guarantees are ensured through the Data Verification Mechanism or DVM that is designed to be incredibly secure. The UMA token itself is used for governance within the protocol, it grants the token holder the ability to vote on decisions. The DVM can be called to dispute a collateral liquidation claim. These contracts are called 'priceless financial contracts' within the UMA protocol.

Where Can You Buy UMA?

UMA tokens are available to buy on various platforms. The list includes Binance, OKEx, Huobi Global, Bybit, and HitBTC. They can be traded against stablecoins (USDT), cryptocurrencies like ETH and sometimes against FIAT.

Where Can You Store UMA?

UMA is an ERC-20 based token operating over the Ethereum blockchain. Any wallet with ERC-20 compatibility can be easily used for storing UMA. Examples include Trezor, Ledger (a very popular hardware wallet solution), Exodus and many others.

Mining and Staking of UMA

UMA tokens are not minable and their quantity is limited (the total supply is a bit more than 100 million) but this could be set to change since liquidity mining experiments using UMA have been done. As an example, there's a program named ‘Developer Mining’ which rewards users for the integration of certain financial contracts.

UMA is an inflationary token. It can be staked for governance purposes and for receiving some rewards for minting various tokens.

UMA Price Today

UMA's current price is $ 2.59, it has dropped -0.65% over the past 24 hours.

UMA's All Time High (ATH) of $ 42.41 was reached on 4 Feb 2021, and is currently -93.9% down.

The current circulating supply of UMA is 81.53 Million tokens, and the maximum supply of UMA is 114.59 Million.

UMA’s 24 hour trading volume is $ 10.74 Million.

UMA's current share of the entire cryptocurrency market is 0.01%, with a market capitalization of $ 211.26 Million.

You can find more details about UMA on its official website and on the block explorer.

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