This application is for UMA to be added as whitelisted collateral for Turbo.
All data points required for the whitelist are using a Google Sheet for calculations. The data can be obtained from UMA’s CoinGecko page and for this application, the data is filtered for the year 2022 up to the current date.
Team Name:
Universal Market Access or better known as UMA
Name of token to be collateralized:
UMA
Market cap of token:
$422,552,316.37
Average daily on-chain liquidity over 30 days (Supply cap must be < 2*avg 30d volume): $52,231,252
Volatility:
50.02%
Link to Chainlink feed:
UMA/ETH Mainnet
UMA/USD Polygon
Link to verified token contract:
UMA Voting token V1
Link to token security audit:
UMA Phase 1 audit by Open Zepplin
Link to development test environment:
Integrating with the Optimistic Oracle
Proof that ownership of token is not an EOA:
By calling the getMember(0) function on the contract we get a result of that point to this contract, which is the UMA governer contract.
Explanation of inflationary token (if applicable):
UMA’s token supply increases by 0.05% for every vote that occurs in our governance system. Votes are triggered when a price proposal is disputed or to action an upgrade proposal (called UMIPs). The inflation rewards are distributed to voters who vote with the majority outcome.
Explanation of token lockups (if applicable):
35M $UMA tokens are locked in the UMA DAO (governer contract). This requires an on-chain vote to unlock.
The remaining tokens are controlled by Risk Labs, the foundation working on the UMA protocol.
Proof of widely distributed token holders:
Token distribution can be seen on Etherscan for token holders and CoinMarketCap number of addresses holding $UMA.