UMA Price
(UMA)
USD($)
UMA (UMA) Live Price Chart
Overview
About
Analysis
FAQ
UMA Live Price Data
The live price of UMA is $2.81, with a total trading volume of $ 352,676 in the last 24 hours. The price of UMA changed by +7.4% in the past day, and its USD value has decreased by -24.39% over the last week. With a circulating supply of 83,740,815 UMA, the market cap of UMA is currently 236.91M USD, marking a --% increase today. UMA currently ranks #188 in market cap.
How do you feel about UMA today?
Note: This data is for reference only.
UMA(UMA) Profile
Rank188
BExpand 
Website
Documentation
Explorer
Contract
- Ethereum 0x04Fa0d...828
- Avalanche C-Chain 0x3Bd2B1...339
Audited By
- https://docs.umaproject.org/dev-ref/bug-bounty
Code & Community
Investors
- Blockchain Capital
- Amber Group
- IOSG Ventures
- Mirana Ventures
- Placeholder
- Wintermute
$2.35
$2.89
- ATH
- $43.36
- Price Change (1h)
- -2.12%
- Price Change (24h)
- +7.40%
- Price Change (7d)
- -24.39%
- Market Cap
- $236.91M
- 24h Volume
- $352,676
- Circulating Supply
- 83,740,815
- Max Supply
- 101,172,570
About UMA
How can I buy UMA (UMA)?
Buying UMA on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy UMA (UMA) for more information. What Is UMA (UMA) Crypto?
The UMA Protocol is designed to provide decentralized services and infrastructure for building, testing, and deploying financial products within the web3 ecosystem. UMA lets developers create and implement decentralized applications (dApps) using smart contracts and an optimistic oracle system.
UMA is built on the Ethereum blockchain, leveraging its capabilities for creating and executing smart contracts. It enables developers to leverage the Ethereum ecosystem to build and deploy financial products.
The protocol utilizes an optimistic oracle system, which aims to bring various data types onto the blockchain securely. It employs economic incentives to verify and validate data for use within dApps.
The UMA utility token is used within the protocol for securing the Optimistic Oracle and supporting governance functions of the UMA platform. It may play a role in incentivizing participants and governing the protocol's operations.
How Does UMA Protocol Work?
UMA is a decentralized platform that lets developers build, test, and deploy financial products within the web3 ecosystem. It employs an optimistic oracle and dispute arbitration system to bring arbitrary data on-chain securely. Here’s how it works:
Creating Financial Contracts
Users can design and create self-executing, self-enforcing financial contracts on the UMA Protocol. Economic incentives secure these contracts and run on the Ethereum blockchain.
Real-world Financial Derivatives
The UMA Protocol allows counterparties to digitize and automate real-world financial derivatives such as futures, contracts for differences (CFDs), or total return swaps. These derivatives are implemented as smart contracts on the Ethereum blockchain.
Priceless Financial Contracts
UMA offers priceless financial contracts, smart contracts that only require an on-chain price feed in case of a dispute. Economic guarantees and network incentives ensure the honest behavior of participants in the system.
Collateralized Synthetic Tokens
UMA enables users to create unique collateralized synthetic crypto tokens that can track the prices of various assets. These tokens, represented as ERC-20 tokens, allow members to trade assets of any kind without needing direct access to those assets. Collateral sponsors lock collateral in a smart contract to mint synthetic tokens, which must remain over-collateralized to avoid liquidation.
Governance and Voting Powered by UMA Token
The UMA token, native to the Universal Market Access protocol, is primarily a governance token. Token holders can participate in governance by voting on UMA Improvement Proposals (UMIPs) and price requests to the Data Verification Mechanism (DVM). Those who vote with the majority consensus are rewarded with inflationary rewards.
History of UMA Protocol
Hart Lambur is one of the co-founders of UMA and has played a significant role in developing and promoting the protocol. He has driven financial innovation in the decentralized finance (DeFi) niche by enabling global access to financial risk through UMA.
The UMA Protocol was launched as an open-source project in June 2019. This marked the official release of the protocol to the public, allowing developers and users to access and contribute to its development.
Additionally, in May 2020, UMA deployed its priceless token model by creating a synthetic coin that mirrored the price of Ethereum to Bitcoin. This showcased the ability of UMA to create synthetic assets based on the Ethereum blockchain.
In November 2021, UMA launched the Across protocol, which provides insurance for transactions between layer 2 scaling products and layer 1 blockchains such as Ethereum. UMA partnered with Risk Labs to conduct a pilot liquidity mining program on its platform, further exploring its potential use cases.
UMA (UMA) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $0.199 | 7.65% |
| 7 Days | $-0.908 | -24.40% |
| 30 Days | $0.289 | 11.49% |
| 3 Months | $0.052 | 1.92% |
24H Investment Barometer
24H
- Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
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UMA Conversion Rate
FAQ
How much is 1 UMA (UMA) worth?
KuCoin provides real-time USD price updates for UMA (UMA). UMA price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time UMA to USD exchange rates. Is UMA Protocol (UMA) a Good Investment?
Determining whether UMA Protocol (UMA) is a good investment depends on various factors and individual circumstances. You could consider investing in the UMA token if you believe in the potential of the web3 and DeFi sectors of the crypto market.
The UMA protocol has been designed to enable the creation of synthetic assets based on users' preferences and tastes. This potential for expanding the range of synthetic assets is a positive aspect for those interested in diversifying their investment portfolios.
UMA utilizes an Optimistic Oracle and a dispute resolution system called the Data Verification Mechanism (DVM) to request and receive data and resolve disputes quickly. This feature may enhance the protocol’s efficiency and reliability, which could increase the UMA price in the market.
What Is UMA Crypto Price Prediction?
Although it is impossible to provide an accurate UMA price prediction over any timeframe, several factors can influence the price of UMA Protocol token, such as:
UMA Token Utility and Governance
The utility of the UMA token within the protocol and its role in governance can also affect the UMA to USD price. Suppose the token is crucial in accessing protocol features, participating in decision-making processes, or earning rewards. In that case, it may generate increased demand and impact the value of UMA Protocol.
Development Progress and Adoption
The progress of the UMA protocol's development, technological advancements, and the protocol’s adoption by developers and users can impact the $UMA price. Positive developments, such as the successful implementation of new features or partnerships, can generate investor confidence and drive up the price of UMA crypto.
Impact of Market Conditions on UMA Protocol’s Price
Cryptocurrency prices, including UMA, are influenced by overall market sentiment and conditions. Factors such as investor demand, market volatility, regulatory developments, macroeconomic trends, and geopolitical events can impact the price of UMA.
What Is UMA Token Used For?
The UMA token serves various purposes within the UMA ecosystem. Here are some of the most popular use cases for the UMA crypto:
Access UMA's Oracle and Dispute Resolution Services
The UMA token provides access to the platform's oracle and dispute resolution services. UMA's oracle offers reliable and timely data to smart contracts, enabling them to function correctly. The dispute resolution services help resolve any disputes or disagreements that may arise within the UMA protocol.
Create Synthetic Assets on the UMA Protocol
$UMA allows developers to design and create financial contracts and synthetic assets. The UMA token is used as collateral to create and back these synthetic assets. These synthetic assets can represent real-world assets or have other financial attributes, exposing users to various assets and financial instruments.
Governance of UMA Protocol
UMA token holders can participate in the governance of the UMA protocol. They can vote on proposed changes, upgrades, or improvements to the protocol. This allows token holders to have a say in the decision-making processes that shape the future development and direction of the UMA ecosystem.
Incentives for UMA Users
The UMA token can serve as a reward mechanism for participants in the UMA ecosystem. Users who actively engage with the protocol, such as providing liquidity, contributing to oracle services, or participating in governance, can earn UMA tokens as incentives or rewards.
Trade or Invest in UMA Crypto
The UMA token can be bought, sold, and traded on cryptocurrency exchanges. Some individuals may acquire UMA tokens as an investment, speculating on potential price appreciation based on market dynamics and the adoption of the UMA protocol.
How to Stake UMA Crypto
You can stake $UMA to participate in UMA’s decentralized governance mechanism and earn incentives from UMA token emissions. Here’s how to do this:
1. Head to the voting interface on the UMA dApp and connect your wallet to it.
2. Ensure you have sufficient funds by buying UMA on KuCoin or other supported platforms and withdrawing your tokens to your wallet.
3. Click the Stake/Unstake button on the dApp’s page.
4. Enter the number of UMA tokens you want to stake and click Approve.
5. Confirm the transaction from your wallet.
Sit back, vote, earn rewards, and grow your UMA holdings by staking tokens.
Who Are UMA’s Partners and Investors?
Several projects have partnered with UMA Protocol to leverage its technology, including BarnBridge, Across Protocol, ShapeShift, and Cornucopia. UMA’s investors include Two Sigma Ventures, IOSG Ventures, and Placeholder.
What is the all-time high price of UMA (UMA)?
The all-time high price of UMA (UMA) is $43.360. The current price of UMA is down 93.51% from its all-time high.
What is the all-time low price of UMA (UMA)?
The all-time low price of UMA (UMA) is $1.160. The current price of UMA is up 142.06% from its all-time low.
How much UMA (UMA) is there in circulation?
As of 12 21, 2024, there is currently 83,740,815 UMA in circulation. UMA has a maximum supply of 101,172,570.
What is the market cap of UMA (UMA)?
The current market cap of UMA is $236.91M. It is calculated by multiplying the current supply of UMA by its real-time market price of $236.91M.
How do I store UMA (UMA)?
You can securely store your UMA in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your UMA include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.