UMA (Universal Market Access) is a cryptocurrency that gives people universal market access. Some experts predict a high increase in the price of this coin in the future.
UMA is a decentralized funding platform (DeFi), on the basis of which users can create synthetic assets using Ethereum blockchain. On the DeFi platform, people without a bank account can obtain financial services.
Synthetic assets are the same as traditional financial instruments whose value depends on other underlying assets such as commodities, currencies, precious metals, stocks or bonds. With a synthetic asset, a trader can make a profit as if he/she owned the asset.
Synthetic assets are also called priceless financial contracts. They are smart contracts, and information about their value is in the network. To preserve data quality and economic value, UMA uses a Data Validation Mechanism (DVM) to determine the underlying value which requires price information from the network.
The UMA token is the proprietary currency of the UMA platform. Holders have the right to vote on improvement proposals (UMIP) and on price requests made in the data validation mechanism (DVM)) through the dApp for voting (decentralized application).
Those users who have exercised the right to vote receive an inflationary reward of 0.05% for participating in the management .
The priceless financial contract template is used to mine synthetic tokens.
Templates are convenient for traders , and anyone can create a smart contract Uma . Uma allows you to create 20 tokens running on Ethereum blockchain technology, such as ETH/BTC, tracking the pair in dynamics. This is called cold tokenization without trust and is something unique in market access.
The following are the five components of a contract :
- Public addresses of both counterparties (originator and beneficiary);
- Margin sub-accounts: margin account for each counterparty, available only for that counterparty and contract;
- Net Present Value (NPV)or the logic for calculating the net present value of the agreement.
- Choice of oracle for information about the underlying asset;
- Contract functions to add/remove margin balances, re-margining, termination of contract settlement.
The goal of Uma is to make trading as accessible as possible to the trader. Using Uma smart contracts you can track stock and bond indices, buy futures, cryptocurrencies, eternal swaps and more. All this is a new technological solution for fintech, which makes Uma unique in the financial world.
100 million tokens have been created, of which 2 percent are initially quoted at 26 cents.
by TradingView
UMA’s current price today is $2.84 and 24-hour trading volume is $280,220,049. UMA is down 3.89 percent in the last 24 hours. Real market capitalization is $184,801,462.
There are 66,973,153 UMA coins in circulation and a maximum delivery of 101,172,570 UMA coins.
The price of UMA is expected to peak at $3.51 in late 2022.Over five years, it is projected to rise to $15.86.
The value of UMA is expected to continue to rise as shortages tend to drive the rate up.
In projections through 2030, analysts cite a value of $119.52.
Some of the experts are more optimistic in their forecasts, and up to 2026 quite allow for the potential growth of the coin to $400 .
In five years, they predict a global flowering of the cryptocurrency market. If the ecosystem focuses on its main achievements, it will have a positive impact on the price of UMA and lead to significant growth. Despite the cheap price to date , the coin has a good outlook in the long term.
All information presented above is for educational purposes, you need to do your own research and analysis using the cryptocurrency exchange …….. before deciding to buy.
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