Universal Market Access protocol lets anyone access any tradable asset, be it crypto or otherwise, bringing a whole new layer of DeFi activities. It does so in two different ways:
The first is the use of smart contracts which people can use people to create different derivative contracts like futures, options and more. The self-enforcing contracts take data from oracles to determine the outcomes without an intermediary.
Second, it allows the creation of synthetic tokens. The fully collateralized tokens track the price of any on-chain or off-chain asset, allowing users to trade anything without actually owning or accessing the original asset.
Universal Market Access also has a governance mechanism, which is controlled by users who hold its UMA tokens. Governance options include adding or removing synthetics, contracts, setting parameters, upgrades and even settling disputes.
