Universal Market Access (UMA) is a protocol for the development, issuance, and settlement of derivatives for any underlying asset built on the Ethereum blockchain. A user can generate and create smart-contract governed meta-tokens based off of a derivative, and then take a position long or short of that asset without needing to hold the underlying asset.
The native token for the Universal Market Access project is UMA token (UMA). UMA is used as a governance token for the UMA system. It is also used to fulfill price requests made on the UMA protocol.