UMA is a protocol based on the Ethereum network which allows all users to build financial contracts and create synthetic assets. The goal of UMA crypto is to provide a decentralized architecture which can grant universal access to DeFi market, making it much more accessible to a wider audience.
The UMA coin is UMA, an ERC-20 token that helps in participation in network governance. UMA holders can vote on and propose changes to the protocol, even being able to change network parameters. UMA holders and voters can stake their UMA and earn rewards based on the amount staked. UMA can also be traded in the cryptocurrency market but cannot be mined as it is based on the Proof of Work mechanism, where new tokens are rewarded for staking.
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Fund back in alts, feels like sentiment slowly changing into bullish mode. $UMA has been a laggard but I think it will move soon. Lots of upcoming news. $FET for exposure to the AI narrative (has only started imo).
Prepared to go into stables if sudden macro changes. 👍
