UMA

UMA is a decentralized financial contracts platform built on Ethereum that aims to give anyone access to financial markets without relying on traditional intermediaries. It addresses the problem of creating trustworthy synthetic financial instruments in decentralized finance, where verifying real-world prices on-chain has historically introduced security and scalability risks. Its intended users are developers and protocols that want to issue synthetic tokens or derivatives without constantly querying an external price feed.

UMA uses a 'priceless' design in which contracts are written so that on-chain price lookups are kept to a minimum, reducing attack surface. When a contract position is disputed, the system escalates to the Data Verification Mechanism, or DVM, where UMA token holders vote on the correct price to resolve the dispute. The UMA token therefore serves two functions inside the network: governance over which contract types and asset classes the system supports, and participation in the dispute-resolution voting process.

The data stored for UMA does not include a fee revenue figure, so fee-based measures such as a protocol earnings yield cannot be calculated from what this site holds. The UMA token's economic role is tied to governance participation and dispute resolution through the DVM rather than to a documented fee stream in this dataset. Approximately 70.51 percent of supply is currently circulating on a point-in-time basis, while 41.82 percent represents supply not yet in circulation, creating a dilution overhang that describes how much additional supply could eventually enter the market relative to what is circulating today.