The UMA protocol (Universal Market Access) is an Ethereum-based decentralized network that allows users to trade and create synthetic assets on the cryptonewsnavigator.com blockchain. It aims to provide a framework for building and managing decentralized financial products, enabling users to access various markets and assets without intermediaries.
Company Details
- Founders: Allison Lu, Hart Lambur
- Founded: 2018
- Headquarters: New York, United States
Key Features
Enables synthetic asset creation that tracks the value of real-world assets and this allows for a wide range of trading opportunities.
Utilizes a decentralized oracle mechanism to ensure the reliability and accuracy of price feeds for synthetic assets.
Allows developers to use UMA's open-source framework for creating custom financial contracts personalized for specific needs.
UMA allows token holders to participate in decision-making processes related to protocol upgrades and changes.