xSushi Call Options on UMA are Live
SushiSwap and UMA have joined forces to build a xSUSHI call option token with a $25 strike price and expiry of May 31, 2021. Over $1mm of these tokens have been minted and pooled with $xSUSHI on SushiSwap. They join existing UMA call option tokens that are already live. These call option tokens can be minted using MySynths.finance, a community created dApp that won UMA’s recent bounty. If you are bullish $xSUSHI you can buy XSUc25–0521 for leveraged, limited downside exposure on a rally. If you are a holder of $xSUSHI and want to collect premium while you wait to take profits then you can mint XSUc25–0521 and sell it.
What to do with your UMA
The recent Coinbase Earn campaign has seen a number of people discovering UMA for the first time, and asking “but how do I use these tokens?”. One of our community members has provided a short guide to how UMA can be used for providing liquidity on SushiSwap, participating in governance through the UMA Voter Dapp, to purchase or mint UMA Call Options, or to use as collateral to mint a yield dollar on Umanji.
Network Effect Guide to UMA
And if you are still wondering what all the hype about UMA is for, Network Effect blog takes a deep dive into the mechanics of UMA and example of some of the products built on UMA’s priceless contracts. It also gives a brief overview of the UMA KPI Options airdrop, and explains some of the thinking behind the use of an airdrop to align the interests of community members in helping UMA achieve its Key Indicator of Total Value Locked.
Clayton’s latest uTVL update is now out, announcing upcoming Poolparty, Gymnastics and Farmer Market campaigns bringing awareness of UMA to the wider Defi community and a few sneak peaks at what UMA might be exploring next.
Shared Stake Bounty and talent available
SharedStake are offering a bounty of 100 SGT (approx $3.5k) for an UMIP writer to assist them with developing KPI Options. Additionally a number of the product teams that we are working with are looking for support with UMIP writing, contract development, UI development and marketing. We have a talent available section on our discourse and we would encourage those with experience in and knowledge of the UMA protocol to consider offering their skills.
And finally ….XIO Accelerator Update
Phase 1 of UMA’s XIO Accelerator concluded with 27 fantastic entries. With songs, infographics and twitter threads; a talking fox, a menagerie of moggies and a car chase, and with entries in French, Japanese, the diversity of talent was mindblowing. Winners will be announced in the XIO and UMA discords soon. Phase 2 is now open with the Synthetic Ideas Token Tournament with $5,000 XIO + 200 uTVL Options offered in rewards for unique, innovative, and unorthodox synthetic token ideas. Winners will also be offered support from UMA to turn their ideas into a product on the UMA protocol.
Want to see your name in lights on UMA’s ICYMI?
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ICYMI #9 was originally published in UMA Project on Medium, where people are continuing the conversation by highlighting and responding to this story.