Strengthening 2 Digits, Following is UMA Coin's Crypto Performance May 10, 2024

Liputan6.com, Jakarta – UMA or Universal Market Access, is a protocol for the creation of synthetic assets based on the Ethereum (ETH) blockchain. Synthetic assets are an asset class that represents a different underlying asset and has the same value.

Based on data from Coinmarketcap, Friday (10/5/2024), the price of UMA is IDR 63,095 with a 24-hour trading volume of around IDR 5.3 trillion. UMA strengthened 21.82 percent in the last 24 hours.

Meanwhile, the current Coinmarketcap ranking is 228, down from previously at 134. UMA Coin has a market capitalization of around IDR 5 trillion. To date, there has been a circulating supply of 68.6 million UMA Coins out of a maximum supply of 101.1 million UMA Coins.

Launched in December 2018, UMA specifically enables its users to design and create self-executing, self-enforcing financial contracts secured by economic incentives and running on the Ethereum blockchain.

In essence, UMA enables counterparties to digitize and automate any real-world financial derivative, such as futures contracts, contracts for difference (CFDs), or total return swaps.

It also allows the creation of self-fulfilling derivative contracts based on digital assets, such as other cryptocurrencies.

Uma has its own crypto token, namely Uma Coin (UMA). UMA is the governance token of the Universal Market Access protocol, meaning its holders have the right to vote on changes to the protocol parameters and improvements to its systems.

Of the total supply, 2 million tokens were sold during the project's Initial Coin Offering (ICO), 48.5 million were reserved for the project's founders, 35 million were set aside as rewards for protocol developers, and 14.5 million were earmarked for future sale.

UMA was co-founded by Hart Lambur and Allison Lu, who met on the trading floor of Goldman Sachs. In 2005, Lambur graduated from Columbia University with a degree in computer science. In addition to being a co-founder of UMA, he is also the CEO and co-founder of Risk Labs, the company responsible for developing the Universal Market Access protocol.

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