Web3.0’s value proposition-to embrace paradigm shift from consumption to ownership
Introduction Reviewing the history of internet development in the past few decades, it can be summarized as three different stages: Web 1.0, Web 2.0 and Web 3.0. Web 1.0 is generally considered to have begun in early 1990s offering basic read-only webpages without any user interaction. Web 2.0 came roughly at the beginning of 21st century and continued to today, where users not only read but also create the content based on various social media platforms namely YouTube, Twitter and Meta（Faceb...
Project Brief - THORChain ($RUNE)
Project Description. THORChain (Thor Chain) is a decentralized cross-chain AMM trading protocol that was just created by an anonymous group of cryptocurrency developers at Binance's hackathon in 2018. With THORCHain, users can trade tokens between different L1 blockchains, eliminating the need to trade through a centralized exchange. For users who have always sought privacy protection and asset safekeeping, THORChain offers one of the key features to replace centralized exchanges (CEX): ...
Project Information - Ronin ($RON)
Project ProfileRonin is a sidechain of Ethernet and a dedicated chain of Axie Infinity, the first major chain tour. It aims to solve the problem of congestion and high Gas fee of Ether L1, providing reliable, fast and reasonable cost for the development of the game, and also avoiding the scaling problem that will arise later by using the existing blockchain. Ronin Ecology Ronin Wallet Bridge The Ronin Explorer Purchase Staking Official website: https://bridge.roninchain.com/ Twitter: https://...
Web3.0’s value proposition-to embrace paradigm shift from consumption to ownership
Introduction Reviewing the history of internet development in the past few decades, it can be summarized as three different stages: Web 1.0, Web 2.0 and Web 3.0. Web 1.0 is generally considered to have begun in early 1990s offering basic read-only webpages without any user interaction. Web 2.0 came roughly at the beginning of 21st century and continued to today, where users not only read but also create the content based on various social media platforms namely YouTube, Twitter and Meta（Faceb...
Project Brief - THORChain ($RUNE)
Project Description. THORChain (Thor Chain) is a decentralized cross-chain AMM trading protocol that was just created by an anonymous group of cryptocurrency developers at Binance's hackathon in 2018. With THORCHain, users can trade tokens between different L1 blockchains, eliminating the need to trade through a centralized exchange. For users who have always sought privacy protection and asset safekeeping, THORChain offers one of the key features to replace centralized exchanges (CEX): ...
Project Information - Ronin ($RON)
Project ProfileRonin is a sidechain of Ethernet and a dedicated chain of Axie Infinity, the first major chain tour. It aims to solve the problem of congestion and high Gas fee of Ether L1, providing reliable, fast and reasonable cost for the development of the game, and also avoiding the scaling problem that will arise later by using the existing blockchain. Ronin Ecology Ronin Wallet Bridge The Ronin Explorer Purchase Staking Official website: https://bridge.roninchain.com/ Twitter: https://...
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I. Program Description UMA is an optimistic prognostic machine that uses economic guarantees to protect the market. Unlike mechanically constrained price supply prophecy machines, optimistic prophecy machines are able to serve arbitrary data on the chain. uma's flexible prophecy machine provides data for uses such as cross-chain bridges, insurance, custom derivatives, and prediction markets. The UMA protocol also provides a variety of smart contract templates that are automatically protected by its optimistic prophecy machine. These include contract templates and integrations for creating synthetic tokens, prediction markets, "KPI options" and structured financial products. Official website: https://umaproject.org/ Twitter: https://twitter.com/umaprotocol?lang=en discord: https://discord.com/invite/jsb9XQJ medium: https://medium.com/uma-project
II. Introduction to UMA Introduction to the protocol UMA is the placement of derivatives on the blockchain. When enough collateral is deposited, it creates a synthetic token for that asset, creates contractual terms for the issued tokens, and uses financial incentives to enforce those terms. Rather than using a price prediction machine to determine when a token issuer will be under-collateralized (not having enough financial backing for their issued tokens due to price changes), users on the UMA are given a financial incentive to identify and liquidate token issuers that they believe are under-collateralized. Introduction to synthetic tokens Synthetic tokens are collateral-backed ERC20 tokens whose value fluctuates based on the token's reference index. Synthetic tokens are basically derivative contracts on the Ethereum (or other smart contract) blockchain.
They have a price identifier (meaning the price of some external asset).
They have an expiration date (contract settlement date).
they have a collateral requirement (which can vary, but must be at least 120% of the value of the tokens issued, e.g. to issue a $100 synthetic gold token, you need $120 of cryptocurrency locked in as collateral). How UMAs work The core of UMA involves 3 elements: its framework for creating synthetic token contracts on the blockchain, its data validation mechanism (DVM), and its governance protocol.
What is DVM Unlike other DeFi protocols, UMA does not require constant price feedback to be accepted, just the protocol to run.
III.UMA Roadmap In March 2019 UMA created a tradable token representing the top 500 U.S. stocks. In late 2019, UMA released its protocol that allows anyone to create tokens representing real-world assets. In May 2020, UMA made crypto market headlines with the release of their first "priceless" synthetic token, ETHBTC, which tracks the performance of ETH and BTC.
Team Introduction Hart Lambur is the co-founder of UMA, Risk Labs, formerly the founder and CEO of Openfolio, and a Goldman Sachs trader, and a graduate of Columbia University.
V. Investment Partners UMA has currently received investments from 12 investment institutions, including Coinbase Ventures, Dragonfly Capital partners, and IOSG Ventures.
VI. Introduction of tokens Affiliation: Synthetic assets Token symbol: UMA Market capitalization ranking: 106 Current coin price: 8.15U Market capitalization in circulation: $53,9571,409 Total number of tokens: 106251029 Circulation volume: 65368377 Highest price since launch: 43.37U Lowest price since launch: 1.16U Token contract address: 0x04Fa0d235C4abf4BcF4787aF4CF447DE572eF828 Number of coin holding addresses: 17830
I. Program Description UMA is an optimistic prognostic machine that uses economic guarantees to protect the market. Unlike mechanically constrained price supply prophecy machines, optimistic prophecy machines are able to serve arbitrary data on the chain. uma's flexible prophecy machine provides data for uses such as cross-chain bridges, insurance, custom derivatives, and prediction markets. The UMA protocol also provides a variety of smart contract templates that are automatically protected by its optimistic prophecy machine. These include contract templates and integrations for creating synthetic tokens, prediction markets, "KPI options" and structured financial products. Official website: https://umaproject.org/ Twitter: https://twitter.com/umaprotocol?lang=en discord: https://discord.com/invite/jsb9XQJ medium: https://medium.com/uma-project
II. Introduction to UMA Introduction to the protocol UMA is the placement of derivatives on the blockchain. When enough collateral is deposited, it creates a synthetic token for that asset, creates contractual terms for the issued tokens, and uses financial incentives to enforce those terms. Rather than using a price prediction machine to determine when a token issuer will be under-collateralized (not having enough financial backing for their issued tokens due to price changes), users on the UMA are given a financial incentive to identify and liquidate token issuers that they believe are under-collateralized. Introduction to synthetic tokens Synthetic tokens are collateral-backed ERC20 tokens whose value fluctuates based on the token's reference index. Synthetic tokens are basically derivative contracts on the Ethereum (or other smart contract) blockchain.
They have a price identifier (meaning the price of some external asset).
They have an expiration date (contract settlement date).
they have a collateral requirement (which can vary, but must be at least 120% of the value of the tokens issued, e.g. to issue a $100 synthetic gold token, you need $120 of cryptocurrency locked in as collateral). How UMAs work The core of UMA involves 3 elements: its framework for creating synthetic token contracts on the blockchain, its data validation mechanism (DVM), and its governance protocol.
What is DVM Unlike other DeFi protocols, UMA does not require constant price feedback to be accepted, just the protocol to run.
III.UMA Roadmap In March 2019 UMA created a tradable token representing the top 500 U.S. stocks. In late 2019, UMA released its protocol that allows anyone to create tokens representing real-world assets. In May 2020, UMA made crypto market headlines with the release of their first "priceless" synthetic token, ETHBTC, which tracks the performance of ETH and BTC.
Team Introduction Hart Lambur is the co-founder of UMA, Risk Labs, formerly the founder and CEO of Openfolio, and a Goldman Sachs trader, and a graduate of Columbia University.
V. Investment Partners UMA has currently received investments from 12 investment institutions, including Coinbase Ventures, Dragonfly Capital partners, and IOSG Ventures.
VI. Introduction of tokens Affiliation: Synthetic assets Token symbol: UMA Market capitalization ranking: 106 Current coin price: 8.15U Market capitalization in circulation: $53,9571,409 Total number of tokens: 106251029 Circulation volume: 65368377 Highest price since launch: 43.37U Lowest price since launch: 1.16U Token contract address: 0x04Fa0d235C4abf4BcF4787aF4CF447DE572eF828 Number of coin holding addresses: 17830
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