I discovered UMA when it was added on Coinbase. The idea of Universal Market Access sound amazing and I wrote my first about it back in March, about UMA and the brains that created the project. In simple terms UMA builds open-source infrastructure for synthetic tokens managed by decentralized oracle services.
I joined the UMA group on telegram to be up to date with news and updates and I joined the super-UMAns to be part of the future! Every day I read the news and try to bring my contribution!
When an AMA with Hart Lambur was announced, I set the alarm because I didn't want to miss this event. Hart Lambur is the Co-Founder of UMA and Risk Labs, and he used his experience at Goldman Sachs to create and develop UMA to today's greatness.
The AMA started at 2AM for me but I was ready to roll, sipping slowly from my Monster can. After a set of written questions, it moved on the voice channel for about 2 hours! Even is my sleep depravation kicked in, I can say I learned so much from Hart, an amazing guy with an amazing "out of the box" thinking!
Hart Lambur AMA highlights
EAsports: What do you see as the biggest challenge for UMA to overcome in the next years?
Hart: Getting all the good stuff the UMA community is doing out during the bull market. I get slightly frustrated with bull market vibes because thert's all this noise and it's hard for quality ideas/ research/ innovation to float to the surface.
PVMihalache: If Hart experience at Goldman Sachs was implemented into UMA, does the project aims to become the Wall Street of the Cryptoverse
Hart: Hahah, sure. I think our team really does have some amazingly useful tradFi experience. I think financial products and derivatives are such a natural fit for blockchain, and I am determined for UMA to be the platform where that happens.
Britt: As someone new to the community, I have a LOT to learn. And with absolutely no coding background, is there a way for me to learn a bit more about how things work under the hood in a human-digestible format? If not, any books/ resources you would recommend checking out to help build some knowledge on all the components of what we do?
Hart: This is one of our biggest challenges. There is SO MUCH to explain: how derivatives and financial engineering works; how the game theory behind UMA works, how blockchain works; how all these pieces fit together. Coming up with a digestible story is hard. I think we should do more videos/ zoom calls that we record. We have a lot of great teachers/ explainers on our team.
PVMihalache: Also to what extent the synthetic assets can be added to UMA? Let's say I want to trade memes, apples or even shoes. Will AMA be an option to tokenize my business?
Clayton: Yes and no, I'd say. Apples yes, just like any futures/ commodities market. Shoes, yeah those too - if you had people especially who wanted to borrow against tokenized shoes!
Poopster: I'm curious as to what your original vision for UMA was and considering the speed at with things move in DeFi - how was that changed in the last 6 months?
Hart: Original vision: financial products should be internet native and globally accessible. That high level vision is unchanged. Most financial products in tradFi are legal contracts, but those only work in specific legal jurisdictions. UMA/ DeFi/ smart contracts can enforce financial contracts on blockchains, which makes them global. This is a huge deal.
Orbby12: How do you address the concern some stakeholders have with the project team being too conservative and the rest of DeFi bluechips have taken off while UMA performance has been more muted. Would like to hear your thoughts on how the optics for the project can be accelerated and improved.
Hart: Great question, and I think the push is good. I obviously want UMA to be a blue chip. I think part of our problem is that we do too much - there's just so much that can be done. I'd like to focus a bit more on a few flagships products/idea: Like KPI options and other tools for DAO to unlock collateral in their treasuries.
Conclusion
UMA is already a big player into the Cryptoverse but the huge potential is still waiting to emerge and to be globalized. UMA will become massive in the next years and more and more will join the Universal Market Access.
Resources:
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UMA can be famous as other projects but it need more advertisement and utilized its potential.Anyway,hope for the best.It would evolved and its future would be bright.