Author Qin Xiaofeng |
Editor | Mandy
The UMA Protocol team recently announced the issuance of ERC-20 USStocks based on token. The team says the tokens anchor American 500 listed company stock index S&P500 (i.e., the S & P 500) in the first exclusive to the center of the exchange DDEX, users can use the money to buy this type of contract DAI stable dollar assets.
For domestic investors, stocks trading account into gold jumbled, trouble, high commission rate. UMA Protocol USStocks to explain the issue of tokens, in order to eliminate the traditional financial market threshold, so that more investors to participate in stock investment.
What is the USStocks token? USStocks tokens can be regarded as derivatives of stocks. Users buy USStocks Dai tokens, S&P500 index products maker Alameda will hedge for users to buy the corresponding number of U.S. stock market. At the same time, USStocks of excess mortgage on the MakerDAO, to ensure that users can obtain liquidity and S&P500 equivalent at any time.
In addition, UMA Protocol will use the application program interface data from the distributor Alpha Vantage (API), S&P500 data will be synchronized to the intelligent contract. Alpha Vantage is the Chicago Mercantile Exchange (CME) data distributor.
“We are using E-mini S&P500 futures CME.” UMA Protocol co-founder Allison Lu Odaily said to the daily planet.
Because the United States shares closed, closed during the token price change? MakerDAO Chinese district leader Pan Chao said to Odaily: “the daily planet MakerDAO as a USStocks chain of liquidity market maker, will provide liquidity for users in DDEX. In the rest period will be to maintain the handicap of liquidity, maintain USStocks disk front disc prices and stocks consistent. “
In addition to the exchange to sell USStocks Token, users can directly after the contract expiration date and intelligent interactive UMA, Dai redemption.
“We have already been in the open source Etherscan and GitHub on Intelligent contract. “Allison Lu added.
(Note: Odaily daily planet Etherscan is a distributed intelligent contract platform, launched in 2015, a square block of exploration and analysis of the Ethernet users can use their own view details of the transaction and any information in the etheric Fang.)
It is reported, UMA Protocol founder Hart Lambur had 8 years at Goldman; co-founder Allison Lu has 6 years at Goldman, VP position. UMA Protocol UMA is the development of a decentralized protocol, provide financial contracts without trust and to the center of the oracle. In 2018 Placeholder led $4 million seed round of investment, with investment of Bain capital.