Common Market Entry (UMA), an open-source, permissionless, and censorship-resistant protocol for monetary innovation has achieved a milestone by getting listed on a serious change. UMA token went stay on main international crypto spot and derivatives change OKEx on August 31, 2020.
In accordance with an announcement by OKEx, UMA is now obtainable for spot buying and selling towards USDT and ETH on the platform. The newest itemizing comes simply a few days after OKEx created a document 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 property 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’re dedicated to supporting DeFi progress for OKEx’s customers and to develop extra within the Asia market.”
Previously month, UMA has gained a whole lot of consideration, turning into the second-largest blockchain oracle with a market cap of $233 million. In accordance with Coin98 Buying and selling Evaluation, 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 needs to be universally accessible and open, a imaginative and prescient we all know is shared by UMA. We’ve got 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 technique to attaining its #FinanceAll objective the place everybody can have entry to monetary providers.