You can now trade Universal Market Access (UMA) and Blockchain Brawlers (BRWL) against USD on Okcoin. Here’s what these two projects are about, in simple terms. 💪
- What? You can now deposit, withdraw, and trade UMA and BRWL on Okcoin.
- Who? All Okcoin customers including those in the United States, except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposit, withdrawal, and trading are live as of April 19.
What’s Universal Market Access (UMA) token?
People who aren’t accredited investors face high barriers to entry in traditional finance like high fees, censorship, and difficult access to some assets. As its name suggests, UMA was built to break these barriers, by decentralizing and democratizing derivatives.
It relies on two features to do that:
- Price oracle. Asset prices are usually validated by something called an oracle, a tool providing price information about any given assets. With UMA’s Optimistic Oracle, the data is decentralized, meaning anyone in the world can participate and dispute inaccurate data. With this “true unless disputed” model, the Optimistic Oracle can quickly request and receive price information.
- Synthetic assets: UMA facilitates the creation of Ethereum-based (ERC-20) synthetic assets that allow market players to get exposure to real-world assets that would otherwise be unavailable to them.
The UMA token is primarily a governance token used to contribute to UMA protocol decisions, such as voting on UMA Improvement Proposals (UMIPs), price requests, and disputes made to UMA’s Data Verification Mechanism (DVM), which facilitates UMA’s financial contracts.
What’s BRWL token?
Blockchain Brawlers is an NFT-based blockchain wrestling game and the first title to come from WAX Games Studios. The game features NFT characters known as Brawlers that can enter the ring once per hour to fight. As part of the play-to-earn model, players earn BRWL tokens for each successful match. They can also spend them to “craft” their Brawler NFT by healing them after a battle, increasing their power, buying special items, and more.
BRWL is available both on the WAX blockchain and on Ethereum’s, as an ERC-20 token. And it’s working: Since the beta version of the game went live on March 30, participants have won an average of 3,200 BRWL per day. 🔥
Craft, brawl, earn, and repeat!