What is UMA?
UMA stand for Universal Market Access. UMA provide open source infrastructure under title UMA Protocol for creating synthetic tokens. It is based on priceless financial contract based on Ethereum blockchain. basically, it offers developers and business to create as well as verify financial contract with decentralized and trustless manner. So, using UMA protocol user can build their own financial product that will be available around the globe.
UMA contract supported Asset supported by ERC20 Token and Oracle mechanism and uses Data Verification mechanism. So, using this technology UMA aim to enable faster, secure and efficient synthetics assets. DVM plays important role on the ecosystem as based on decentralized oracle services that manages price request from users. However, UMA oracle allows blockchain and smart contract to connect with off-chain data with trustless manner.
UMA token i.e. governance ERC-20 Token uses proof of stake mechanism. However, these tokens will be used to request price data for smart contract and also their vote can be revealed and committed on-chain. however, project strongly believing decentralized Finance to offer oracle solution.
UMA Price Prediction
|Month & Year||UMA Price Prediction|
|Based on||Smart contract|
|All-time high||$7.86 USD|
|Exchange Platform||Uniswap, Hoo, Balancer, MXC, 1inch Exchange, Bilaxy, Poloniex, Bibox, MXC, Coinex|
UMA ICO Overview
|Raised by||$520,000 USD|
|Date of ICO||26 April 2020|
|ICO Price||$0.26 USD|
|Partners||Placeholder, BainCapital Ventures, Blockchain Capital, Two Sigma Ventures, Box Group, Coinbase Ventures, Dragonfly Capital, Fintech Collective.|
UMA Price Analysis
On 26th May 2020 UMA started their trading with average price $1.33 USD and after that it started following neutral trend with small price fluctuation. Since, mid of July 2020 UMA sees growth in market cap volume with almost 6 times hiked in trading volume and after it continue surge. in less than 2-month UMA changed from $1.70 USD to $7.75 USD i.e. almost 700%, so all this factor positively impacted UMA to gained ranking on Crypto market.
How Much UMA Worth in 2030?
Probably worth $30 USD.
Is UMA a Good Investment?
Yes, long term will be better choice.
UMA with oracle wanted to create decentralized financial platform to offers solution in financial field. UMA was under developed since 2018 and the company having experience 12 years in software field. So, project aiming to provide solution to user because they can own independent finance product. Data verification mechanism (DVM) oracle infrastructure enable economic security for smart contract and also oracle system in decentralized system.