Exchange UMA (UMA)
If you're looking to swap UMA, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is UMA or some fresh information about UMA’s price movements. And, of course, we provide you with the multiple UMA exchange options so that you can choose the offer with the best rates and lowest UMA fees, as well as other parameters that suit you.
UMA Price Stats
To help you make a decision about exchanging your UMA, we gathered some cold hard numbers: UMA price chart and other stats, such as UMA market cap.
24H HIGH $1.767
UMA MARKET CAP $168,139,496.132
CIRCULATING SUPPLY 114,225,201.177 UMA
24H LOW $1.345
UMA PRICE $1.472
24H VOLUME $437,915.583
UMA Price Chart
Here you can see the current price of UMA, as well as UMA price history.
What is UMA?
UMA is a governance token of the UMA Project – a protocol enabling anyone to create synthetic tokens representing any real-world assets. UMA, which stands for Universal Market Access, was founded in 2018 by Goldman Sachs alumni and boasts an impressive list of backers, including Bain Capital Ventures, Coinbase Ventures, and others.
There are two key mechanics employed by the project — Priceless financial contracts and the Oracle system. Priceless contracts are used to mint synthetic tokens by locking collateral into a smart contract. UMA’s innovative approach is that those contracts do not require constant monitoring of the underlying assets’ prices; instead, it’s the token holders’ responsibility to make sure that their synthetic assets don’t become undercollateralized. If they do, another actor in the network – a liquidator – comes into play and liquidates the position. Liquidators are kept in check by disputers: if liquidation is made in a bad faith, they open a dispute. The Oracle system is made exactly for these cases: it reports the actual price of the asset in question, which decides the outcome of the dispute. Throughout this whole process, the honest parties are rewarded and the dishonest ones are penalized. UMA tokens are used in the dispute system to vote for price requests. The second role of the token is voting on the general improvements of the protocol.
A Simple Way To Exchange UMA Here At SwapSpace
Choose a pair
Choose the cryptocurrencies you would like to exchange among more than 1750 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.
Select the best rate
Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!
Receive your coins
You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: firstname.lastname@example.org.