Review on UMA by Toprak Dere
About UMA
UMA Coin managed to rise up to $ 30, especially before the drop experienced last week. It is known that the comments of UMA Coin, which was traded below $ 10, not much, 1 month ago, are therefore very positive. Recently listed by Coinbase Pro and subsequently by Binance, one of the world's largest cryptocurrency exchanges, UMA Coin has a bright future.
In particular, its focus on DeFi and its focus on synthetic derivatives creates a bridge between DeFi and central finance.
It seems that UMA embodies many elements that are currently in fashion. UMA-based contracts provide economic incentives and security compared to contracts in traditional derivatives. This ensures that these smart contracts are universally available and reliable.
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Pros
- With UMA's "Synthetic Token Builder" service, users can create tokens that are indexed to the price of anything.
- Yield Farming
Cons
- not listed in most exchanges
- the project should be developed and supported more
