Smart Contract Technology Provider UMA Launches Synthetic Token Generator at Ethereum Test Network

According to The Block, smart contract technology provider UMA launched a platform to create tokens that track the price of "anything", from foreign exchange rates to stock prices. UMA co-founder Allison Lu announced at the DEFI Summit in London that the platform is called the Synthetic Token Builder and can be used on the Ethereum test network Rinkeby. Synthetic Token Builder accepts DAI as collateral and allows users to cast tokens that follow various price indices. Users can also trade these tokens, and their collateral value will vary according to the price index.