ANCHORAGE DIGITAL SUPPORTS UMA AND LOOPRING.
Institutional clients can now hold Universal Market Access (UMA) and Loopring (LRC) in Anchorage Custody. Both protocols bring novel solutions to the Ethereum blockchain, with UMA offering open-source financial contracts and Loopring providing fast, lower-cost off-chain settlement. We’re proud to continue offering our clients exposure to the kinds of innovative emerging protocols they demand.
Anchorage has been committed to institutional participation in the DeFi ecosystem since its early days, supporting dozens of DeFi assets and working to bring wrapped layer one assets to Ethereum to powering Visa’s crypto-native settlement on Ethereum. With UMA and LRC, we’re pleased to support the continued development of the Ethereum ecosystem.
Universal Market Access (UMA)
UMA is a fast, flexible, and secure way to create financial contracts on Ethereum. UMA was created to make financial markets universally accessible by empowering developers to easily and securely create these synthetic assets through the use of “priceless contracts”. Priceless contracts remove some of the costs and complexities associated with early smart contract based assets on Ethereum, which required on-chain price feeds and were difficult to liquidate. UMA’s founding community members include former Goldman Sachs and Google alumni and advisors Chris Burniske, Jill Carlson, Noah Jessop, and Prof. Christopher Tonetti.
With transaction prices on Ethereum rising due to network congestion, Loopring uses off-chain layer-2 settlement and zero-knowledge proofs to make payments more efficient, cost-effective, and secure on the Ethereum blockchain. LRC is used for payment applications and transactions over order book exchanges and non-custodial automated market makers.
⬇️DETAILS:
https://medium.com/anchorage/anchorage-digital-supports-uma-and-loopring-8b02cee109e9
