About UMA

UMA allows users to create synthetic tokens that track the price of almost anything, collateralized for security. These contracts are automated, requiring no direct ownership of the underlying asset, and are traded as ERC-20 tokens. This simplifies derivatives trading and opens DeFi possibilities. Synthetic tokens tokenize the relationship with an asset, unlike real-world derivatives that are directly linked. They require a price feed, collateral, and a smart contract (Token Facility) for setup. UMA's Data Verification Mechanism (DVM) ensures economic security. The UMA token is used for governance and dispute resolution. UMA tokens can be purchased on Binance, OKEx, and other exchanges using USDT, ETH, or FIAT. They can be stored in any ERC-20 compatible wallet like Trezor or Ledger. UMA t...