Tag: Synthetic Tokens

UMA stands for Universal Market Access, making it a fitting title for all decentralized finance (DeFi) since universal access is ultimately the goal. But more specifically, UMA is a decentralized protocol for deploying synthetic assets on Ethereum. As such, UMA's existence will thus help create financial markets on Ethereum that are accessible to everyone in the world. It provides a framework for developers to create whatever kind of synthetic Ethereum token they desire. Like other DeFi projects we've covered, UMA uses smart contracts to replace third parties like banks and other intermediaries.