What is UMA Coin (UMA)

UMA (UMA/USDT) (Trade it Here) is the native cryptocurrency of the UMA protocol (Universal Market Access protocol), a protocol that allows users to create their own synthetic assets – digital tokens that represent and track the price of any real-life asset. These tokenized assets are known as “priceless financial contracts” on the platform.

Use Case of UMA Coin (UMA)

UMA has an interesting feature that allows users to create a synthetic token that can track the price of anything. An obvious example might be a token which tracks the price of the S&P 500, however, the possibilities are endless. If it has a price, it can be tokenized.

The UMA token, developed on the ERC-20 protocol, is used to vote and settle disputes on the collateral liquidation claims. The circulating supply is 68,947,415 tokens on the Ethereum blockchain platform. UMA reached the highest price (ATH) of 33.78 USDT on February 4, 2021. The lowest price since the date of ATH was 1.9899 USDT on June 13, 2022. The 30 days performance sees the highest price at 2.9167 USDT on August 30, 2022 and lowest at 2.2968 on September 22, 2022. Its current performance is 2.391 USDT (by September 27, 2022) with a market cap of $165,210,162.One feature that is worth pointing out: these tokens don’t require an oracle. They maintain their value without a price feed, which removes a major attack vector. Oracles are often considered one of the weakest points in the DeFi ecosystem.

Who are UMA Coin (UMA) founders?

With the goal of making global markets universally fair, accessible, secure and decentralized, Allison Lu & Hart Lambur, two Goldman Sachs former traders founded UMA in 2018.

UMA Coin (UMA) Tokenomics

The UMA token, developed on the ERC-20 protocol, is used to vote and settle disputes on the collateral liquidation claims. The circulating supply is 68,947,415 tokens on the Ethereum blockchain platform. UMA reached the highest price (ATH) of 33.78 USDT on February 4, 2021. The lowest price since the date of ATH was 1.9899 USDT on June 13, 2022. The 30 days performance sees the highest price at 2.9167 USDT on August 30, 2022 and lowest at 2.2968 on September 22, 2022. Its current performance is 2.391 USDT (by September 27, 2022) with a market cap of $165,210,162.

How to buy UMA Coin (UMA) on MEXC?

You can buy UMA Coin (UMA) on MEXC by the following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “UMA” using the search bar to see the available trading pairs. Take UMA/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of UMA you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy UMA] to confirm your order. You will find the purchased UMA in your Spot Wallet.

Want to stay tuned in crypto market?

Check out our listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshot and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency in general.

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