We’re glad to announce that UMA has joined the household of the over 200 cryptocurrencies out there for trade on Changelly! Beginning at the moment, customers will be capable of trade it with different digital property at floating charges on our platform.
The UMA governance token is used to function UMA’s dispute decision system, often known as the Knowledge Verification Mechanism (DVM). Proudly owning UMA provides you the flexibility to contribute with worth info to the DVM and contribute to UMA protocol governance selections.
As the overall worth of collateral locked in UMA grows, UMA token is required to extend in worth to make sure the safety of the DVM. The DVM is designed with an financial assure round the price it could take to deprave the oracle and the revenue somebody would obtain from corrupting the oracle. The price of corrupting the DVM is as measured by the price of acquiring 51% of UMA voting tokens.
The DVM ensures the value to acquire 51% of UMA tokens is bigger than the revenue from corrupting the DVM, as measured by the collateral saved within the monetary contracts which are registered with it. To make sure this inequality holds, the DVM could cost charges to monetary contracts which the DVM would use to purchase UMA tokens.
We’re thrilled to have the UMA token be a part of Changelly and we respect а quick, versatile, and safe option to create decentralized monetary merchandise that supply UMA.
UMA builds open-source infrastructure for “priceless” monetary contracts on Ethereum. Particularly, priceless monetary contract templates for creating artificial tokens and Decentralized Oracle Service for managing and implementing contracts on UMA Collectively. These two applied sciences allow the creation of quick, environment friendly, and safe derivatives on Ethereum.
Web site: https://umaproject.org/
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