UMA

UMA is a decentralized financial contracts platform built on Ethereum that aims to give anyone access to financial markets, including synthetic tokens that can track the price of almost any asset. It addresses the problem that many DeFi contracts rely heavily on on-chain price feeds, which can create security and scaling vulnerabilities. UMA is designed for developers and protocols that want to create or use financial contracts without constantly querying a price oracle.

UMA's core design, which it calls 'priceless' financial contracts, avoids continuous on-chain price checks by only requiring a price when a contract interaction is disputed. When a dispute arises, UMA token holders vote through the Data Verification Mechanism, or DVM, to resolve the correct price and settle the dispute. The UMA token therefore serves two functions inside the system: holders participate in governance decisions about which contract types and assets the platform supports, and they act as the dispute-resolution layer by fulfilling price requests through their votes.

The data stored for UMA does not include a fee stream, so there are no figures available on protocol revenue, fee recipients, or what the protocol retains from activity. This means that fee-based measures commonly tracked on this site are not applicable here. The circulating supply stands at approximately 90,927,888 tokens against a market capitalisation of roughly 33,089,863 US dollars at the recorded price of 0.363058 US dollars, with 70.14 percent of supply already issued and approximately 42.58 percent of the fully diluted supply still pending issuance, producing a fully diluted value to market cap ratio of 1.43.