What is UMA (UMA)?
UMA is a blockchain oracle and dispute arbitration system on the Optimistic blockchain. UMA's oracle system provides data for various projects including cross-chain bridges, insurance protocols, custom derivatives, and prediction markets. Two notable projects that use UMA are Outcome, a DAO tooling platform built on UMA, and Across, a cross-chain asset bridge secured by UMA.
How UMA (UMA) Works
UMA allows contracts to quickly request and receive data information. It acts as a relayer between contracts that initiate a price request and UMA's dispute resolution system known as the Data Verification Mechanism (DVM).
When a contract requests a price, UMA sends it to the DVM. If there is a problem, the DVM proposes a vote to UMA token holders who then report the price of the asset at a specific time.
The DVM is important because it uses human judgment to make sure contracts are managed safely and correctly, especially during volatile market conditions.
The UMA protocol is powered by the native token of the same name, UMA token. It is used to vote on changes and disputes related to UMA, such as responding to price requests, approving new prices and currencies, upgrading the core DVM protocol, and stopping bad contracts. The token is important because it helps keep the smart contracts and oracle system secure. The DVM makes sure that it would cost more to cheat the system than the potential gain, and voters get rewarded with more tokens.
How Many UMA (UMA) Tokens Are in Circulation?
UMA token has a total supply of 108,858,567, among which 68,947,415 tokens are being circulated.
How to Buy UMA (UMA)
Consider investing in UMA (UMA)? It only takes 2 minutes to create an account on Bitget and start trading UMA.
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UMA (UMA) Resources
Simple 3-step guide to buying UMA today in Portugal
Create your free Bitget account
Select a funding method
Complete your UMA purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for UMA using a payment method of your choice:
Buy UMA with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your UMA order.
How to buy crypto with credit/debit cardBuy UMA with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into UMA is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your UMA order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your UMA order.Buy UMA with the fiat balance in your Bitget account
You can Deposit fiat funds using SEPA to top up your Bitget fiat balance. Then click Buy Crypto > [Cash conversion] in the top navigation bar to place your UMA order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor UMA in your Bitget spot wallet
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How to buy UMA for free
- Learn how to earn UMA for free through the Learn2Earn promotion
- Earn free UMA by inviting friends to join Bitget's Assist2Earn promotion
- Receive free UMA airdrops by joining ongoing challenges and promotions
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Located on the stunning Iberian Peninsula of Southwestern Europe is the nation of Portugal, home to more than 10 million people and two autonomous archipelagos – Azores and Madeira – that have their own regional governments. Its capital city is Lisbon, acting as the country’s financial, political and cultural hub. With a history of being one of the first global maritime and commercial empires, Portugal also possesses the 14th largest gold reserves in the world, with a GDP estimated to be around US$432 billion in 2022.
While Lisbon is no doubt one of the country’s most appealing tourist destinations – thanks to sights like the Church of São Vicente de Fora, the Belém Tower, and the Carmo Convent – other major cities in the region have also proven popular, including Porto, Madeira and Lagos. For the best of Portuguese cuisine, you might also want to try caldo verde, bacalhau, grilled sardines, bifanas, and piri-piri chicken.
Portugal’s official language is Portuguese and its national currency is the Euro (EUR), and with direct support for both from Bitget’s website and app, you can purchase UMA(UMA) in just a few clicks, whether you’re in Lisbon or Porto or Coimbra or Sintra. Our exchange offers a series of secure payment options to make your trading experience safer and more convenient, including P2P trading, crypto deposits, other third-party merchants such as Apple Pay, Google Pay, and a range of different credit card services.