We’re glad to announce that UMA has joined the circle of relatives of the over 200 cryptocurrencies to be had for alternate on Changelly! Beginning these days, customers will be capable of alternate it with different virtual property at floating charges on our platform.
The UMA governance token is used to function UMA’s dispute solution device, referred to as the Information Verification Mechanism (DVM). Proudly owning UMA will give you the power to give a contribution with value knowledge to the DVM and give a contribution to UMA protocol governance choices.
As the whole worth of collateral locked in UMA grows, UMA token is needed to extend in worth to verify the safety of the DVM. The DVM is designed with an financial ensure round the fee it could take to deprave the oracle and the benefit any individual would obtain from corrupting the oracle. The price of corrupting the DVM is as measured by way of the price of acquiring 51% of UMA balloting tokens.
The DVM guarantees the cost to procure 51% of UMA tokens is bigger than the benefit from corrupting the DVM, as measured by way of the collateral saved within the monetary contracts which are registered with it. To make sure this inequality holds, the DVM would possibly price charges to monetary contracts which the DVM would use to shop for UMA tokens.
We’re overjoyed to have the UMA token sign up for Changelly and we admire а speedy, versatile, and safe option to create decentralized monetary merchandise that provide UMA.
UMA builds open-source infrastructure for “useful” monetary contracts on Ethereum. In particular, useful monetary contract templates for developing artificial tokens and Decentralized Oracle Carrier for managing and imposing contracts on UMA In combination. Those two applied sciences allow the introduction of speedy, environment friendly, and safe derivatives on Ethereum.
Web site: https://umaproject.org/
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