UMA and AAVE - potential partnership? - Day 48

If you are looking for some new token with some good potential for long term, look no further. UMA is applying to be listed as an asset for lenders and borrowers on AAVE v2/v3. This is the second time, but this time it is different. UMA is now a force to reckon, with more than $100M TVL, and quite few important projects in the last 12 months, each of them creating ripples of innovation in the crypto-sphere.

What projects, you may ask? KPI Options (programmable tokens used to create smart contract airdrops), Across (instant ETH L2 rollups cross chain bridge), Range tokens, Success tokens and Call/put Options. 82 contracts were launched until now and counting. See them on https://projects.umaproject.org/ .

UMA is an open source protocol supporting DAOs since 2018, and its name means Universal Market Protocol. UMA is used to operate optimistic oracles. UMA holders can contribute on price information to UMA’s Optimistic Oracle and govern UMA protocol and they are the governing body, being rewarded for their activity.

If you hold UMA, participate and vote correctly, then you are eligible to receive an inflationary reward, distributed pro-rata, depending on your stake (0.05% of the total network token supply. You earn rewards if you vote on price requests from financial contracts using the DVM or if you vote on voting on parameter changes and approving system upgrades.

And to save the best for last, UMA token is secure, was never hacked, and already supported many DAOs to secure and reduce their risk factors. As per today, UMA is $21.70, with more than $1B market cap, being listed on most of the major centralized and decentralized exchanges. Total 24H trading volume was $461M.

In conclusion, I think that a partnership between UMA and AAVE, with UMA being offered as collateral for borrow/lend, will help AAVE as much as UMA to further help decentralization and blockchain expand their mission and promote their message even more.

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That's all for today.

All the best,

George

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Why not...

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