A protocol for building synthetic assets
UMA is designed to fuel financial advances made possible by decentralized, distributed blockchains, such as Ethereum. Using principles adapted from fiat financial derivatives, UMA establishes an open-source protocol that allows any two counterparties to develop and build their own financial contracts. However, unlike conventional derivatives, UMA contracts are protected by economic incentives alone, making them self-reinforcing and universally available.
UMA is backed by industry leaders such as Placeholder, Coinbase Ventures, Bain Capital, and Blockchain Capital.
UMA was cofounded by Allison Lue and Hart Lambur in 2018.