UMA, the crypto
UMA (Universal Market Access) is a decentralized financial contracts platform built on top of Ethereum blockchain designed to allow for the creation, maintenance, and settlement of financial contracts that are versatile, autonomous, and provide price transparency.
The main point of UMA is to provide the tools to enable trustworthy and secure financial contracts to exist between two or more parties without the need for intermediaries, which leads to a greater degree of automation and more efficient financial markets.
UMA tries to solve the problem of imbalanced power dynamics and high fees observed on traditional financial markets by giving all market participants an equal opportunity to create their own financial contracts with any economic exposure they desire.
We used an AI to answer three questions about UMA, so take this info with a grain of salt.