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UMA
, 8 tweets, 6 min read Read on Twitter
Whoa @ETHBoston, what a weekend! So many amazing teams built killer #DeFi projects using UMA synthetics.

Want to hedge DAI breaking the peg? 🦢SwanDAI did that with a token.

Want to hedge your @compoundfinance rate risk? SUMA did that with a token.

More dets + highlights:
The 🦢SwanDAI team won our $3k DAI bounty for most creative use of an UMA synthetic token. The project combined financial engineering + data science to create a token that pays off if DAI breaks its peg, providing DAI uses a useful form of insurance.

devpost.com/software/swand…
Do you want to "lock in" your 9.7% DAI supply rate on your @compoundfinance loans? SUMA created an innovative token to lock in current rates **effectively creating an interest rate hedging tool** for DAI. You can now "bet" on Compound rates.

devpost.com/software/suma
Do you think Bitcoin dominance is peaking? "Alt Coin Index" created tokens that track both Bitcoin and Altcoin dominance, allowing users to bet on the relative growth of the two markets. This feels like a missing tool for macro investors in crypto.

devpost.com/software/alt-c…
Have you wanted a "local currency" version of DAI? The Crypto2Go team created a series of tokens that convert DAI into synthetic CNYDAI, JPYDAI, KRWDAI, etc.

Doesn't JPYDAI seem like something we should create for #Devcon5 @MakerDAO @EFDevcon ??

wheath.github.io/crypto2go/
The @TornadoCash team added ERC20s to their mixer to enable privacy with UMA synthetic assets. Production deployment is not far away...

devpost.com/software/mixeth
Congrats everyone! Hope to see you all at @ethwaterloo2 in November!
@ethwaterloo2 h/t to these awesome teams:

SwanDAI creators @willprice221, @ethdapp and @_wilbur4ce_
SUMA creator @calchulus
Alt Coin Index creator @StevenNevins
Crypto2Go creators (need your twitters!)
MixETH creators @tornadocash
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