What is UMA (UMA)?

What is UMA (UMA)?

The issue of off-chain data required to fulfil the requirements for smart contracts being inadequate or wrong because of incomplete or faulty information has plagued oracles in the crypto space for quite some time now. In light of this and more, UMA came to life and became a savior for other existing issues.

UMA, or Universal Market Access, is an optimistic oracle that safeguards markets and smart contracts over Web3. UMA stands as one of the inaugural systems to arise in the rapidly growing field of decentralized finance, which is also a well-known token backed by Ethereum, the second-largest cryptocurrency network.

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