UMA token name comes from Universal Market Access. Indeed, the founders of the project designed it to become a symbol for a Decentralized Protocol UMA that enables creating, buying, and trading derivatives on the blockchain. First of all, UMA lets anyone build their decentralized financial products at ease, using templates offered by the protocol. Secondly, through the UMA protocol, traders and investors get a chance to create synthetic tokens collateralized by any derivatives and enjoy minimal transaction cost plus enhanced security. To do that, users deposit any ERC-20 token in exchange for synths. The prices, meanwhile, are monitored by Priceless Contracts, getting information on asset prices in real-time. The combination of Priceless Protocol and Optimistic Oracles is what makes the project unique. The latter backs the dispute arbitration system inside the protocol, where UMA token holders have a right to vote on whether the disputes are valid or not. For that, they are rewarded with UMA tokens.