yUSD has launched
UMA builds open-source infrastructure for “priceless” financial contracts on Ethereum. Specifically, this is two things:
- Priceless financial contract designs, which can be used to create synthetic tokens
- Data Verification Mechanism (DVM), a decentralized oracle service
Together, these two technologies enable the creation of fast, efficient, and secure synthetic derivatives on the Ethereum blockchain.
If you would like to learn more about the concepts behind the DVM and priceless financial contracts, start by reading this overview of the UMA ecosystem. The following sections go into additional detail on priceless DeFi contracts and the DVM.
If you are a developer interested in building with UMA’s technology, start with this explainer of how UMA's priceless synthetic tokens work, and then try out this tutorial for how to deploy your own token on testnet. You can find additional reference materials, including a list of UMA-supported mainnet and testnet deployments, here.
For Market Makers
If you are a market maker interested in market making or acting as a liquidator or disputer for financial products deployed with UMA’s priceless synthetic token template, you can find more information about the economic incentives for these roles in this explainer for synthetic tokens.
For UMA Token Holders
If you are interested in the UMA project token, please read this section to learn more about the role of the UMA project token in the DVM and the rights and responsibilities of UMA project token holders.
For a more detailed view, API documentation is available for all UMA smart contracts.
If you have any questions or want to reach out, please join our Discord.