Universal Market Access (UMA), an open-source, permissionless, and censorship-resistant protocol for monetary innovation has achieved a milestone by getting listed on a serious trade. UMA token went dwell on main international crypto spot and derivatives trade OKEx on August 31, 2020.
According to an announcement by OKEx, UMA is now out there for spot buying and selling towards USDT and ETH on the platform. The newest itemizing comes simply a few days after OKEx created a file of types by itemizing Eight DeFi tasks in a single day. With UMA listed on the platform, OKEx now helps 29 DeFi tokens.
UMA is a protocol for constructing artificial belongings based mostly on ideas borrowed from fiat monetary derivatives. It permits any two counterparties to design and create their very own decentralized monetary contracts and oracles with financial ensures utilizing self-enforcing contract design patterns, all in a permissionless blockchain setting.
The challenge’s co-founder Hart Lambur mentioned, “The UMA challenge is worked up to launch on OKEx. We are dedicated to supporting DeFi development for OKEx’s customers and to develop extra within the Asia market.”
In the previous month, UMA has gained loads of consideration, turning into the second-largest blockchain oracle with a market cap of $233 million. According to Coin98 Trading Analysis, as of August 8, UMA was preceded solely by the Chainlink challenge.
Responding to Lambur’s remark, CEO of OKEx Jay Hao mentioned, “OKEx additionally believes that monetary markets ought to be universally accessible and open, a imaginative and prescient we all know is shared by UMA. We have witnessed the spectacular strides that UMA has made inside the DeFi house and are glad to be collaborating with them.”
With this collaboration, OKEx is on its solution to reaching its #FinanceAll objective the place everybody can have entry to monetary providers.