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$11.3690

  -5.27%

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What is UMA?

UMA (UMA) Protocol is a Decentralized Finance (DeFi) Protocol where any two parties can create their own financial contracts and synthetic assets.

  • The protocol can be used to build priceless financial contract designs, which can be used to create synthetic tokens, and Data Verification Mechanism (DVM) for a decentralised oracle service.
  • The UMA token is primarily used for governance and enables token holders to vote on governance decisions such as upgrades to the Data Verification Mechanism (DVM), creating new synthetic assets and settling disputes on liquidated collateral.
  • Each time a vote is held, the total token supply is inflated by 0.05% and is distributed the parties that voted with the majority. Voting for the losing side or failing to vote will indirectly lead to dilution of one's token holdings.

UMA's technology framework enables the creation of fast, efficient, and secure synthetic derivatives on the Ethereum blockchain.

How do I buy UMA?

1.
Deposit funds into your account.
2.
Enter the amount of UMA (or Australian Dollar equivalent) that you would like to buy.
3.
Click ‘Buy' to confirm your UMA purchase and your UMA will arrive in your CoinSpot wallet within minutes.
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