No-pay financial contract infrastructure UMA has been launched on Uniswap governance token UMA

The non-feeding financial contract infrastructure UMA has launched the native governance token UMA on Uniswap. The project foundation deposited 2 million tokens in Uniswap, accounting for 2% of the total supply, and the initial price was 0.26 USD. According to official information, the total amount of UMA is 100 million tokens, 14.5% of tokens will be sold by users in future tokens, 35% will be distributed to developers and users, and 48.5% of tokens will be distributed to founders, investors and early contributors . Lianwen previously reported that UMA token is a governance token, the main role is to act as a system governance and solve the oracle dispute. For governance, UMA token holders can vote to allow access to the financial contracts and asset types of the system , Key system parameters and their upgrades, and methods of allocating UMA tokens. In addition, UMA token holders can also resolve disputes for non-feeding contracts. When contract disputes occur, UMA token holders vote through the data verification mechanism DVM to reach consensus. The UMA team told Lianwen that UMA tokens are mainly used for community governance and contract dispute resolution, not fundraising mechanisms or investment opportunities.