UMA announces synthetic token builder
Universal Market Access (UMA) has launched their Synthetic Token Builder on Rinkeby testnet that allows the creation of tokens to track the price of anything from the S&P500 to number of Twitter followers an account has. The dApp works by creating a token that is overcollateralized with $DAI. The collateralization ratio will fluctuate based on the price of the underlying instrument, and if it drops below the requirement it will be liquidated for a penatly.
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