According to media reports, UMA completed a new round of funding on 2021-07-09. the investors in this funding round include Amber Group,Blockchain Capital,Wintermute,Mirana Ventures,IOSG Ventures,BitDAO,Robert Leshner,Will Price,Stefan Cohen,Sybil Capital and others. Following this round, UMA's total funding reached $6 M.
UMA is an optimistic oracle that uses economic guarantees to secure markets. Unlike mechanically restrictive price feed oracles, UMA's oracle is able to serve any arbitrary data on-chain. It can be used for a variety of purposes, such as a cross-chain bridge, insurance, custom derivatives, and prediction markets.The UMA Protocol also provides various smart contract templates, which are automatically secured by its optimistic oracle. These include templates and integrations for creating synthetic tokens, prediction markets, "KPI options", and structured financial products.