UMA

UMA is a decentralized financial contracts platform built on Ethereum that aims to give anyone access to financial instruments that would otherwise be unavailable to them. It addresses the problem of building trustworthy on-chain derivatives and synthetic tokens without relying heavily on continuous external price feeds, which have historically introduced security and reliability risks in decentralized finance. The primary users are developers and protocols looking to create synthetic ERC-20 tokens that can represent the value of virtually any asset.

UMA uses a 'priceless' design, meaning smart contracts are structured so that on-chain price data is needed only when a position is disputed rather than continuously. When a dispute arises, UMA token holders participate in the Data Verification Mechanism, or DVM, by voting to resolve the price request. Token holders also use governance to determine which contract types and asset classes are supported and to set key system parameters, meaning the token serves dual roles as a voting instrument and a dispute-resolution tool.

The data stored for UMA does not include a fee stream, so fee-based measures such as protocol revenue or fee yield are not available on this page. The circulating supply stands at approximately 92,842,454 tokens against a current price of 0.391412 USD, giving a market capitalisation of roughly 36,346,835 USD. Because no maximum supply is recorded, the ratio of fully diluted value to market capitalisation of 1.417086 reflects only the gap between circulating and total known supply, with approximately 41.71 percent of supply still pending issuance, which represents potential future dilution.