Review on UMA by LUIS RIVERO R
Decentralized finance closer and closer.
Basically, it seeks to universalize financial services using smart contracts, all the value of the assets is backed by verified contracts.
What UMA does is become an intermediary platform to create backed tokens in addition to offering alternatives to developers of decentralized finance services.
Ease of creating contracts, fully verified by UMA.
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The utility of the token is to be a consensus asset to be able to run the oracle, specifically it is a governance asset. You can vote for proposals or requests, as well as receive rewards.
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It is also a security token that allows the ecosystem to be kept safe, the value of the token increases depending on the tokens blocked in the contract. What makes this project special is that it is already proven, there are other similar projects that have good adoption.
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Pros
- Management of new tokens using the UMA ecosystem and support.
- All the technology used is compatible with the ethereum blockchain.
- The token works to cast votes on the different proposals.
- Person behind this Defi is recognized in the world of finance.
Cons
- There are already other projects with the same purpose.
