Introducing Sumero
What is Sumero?
Sumero is a decentralized finance (DeFi) application built on Ethereum. Sumero will offer 3 synthetic assets using Universal Market Access's (UMA) Optimistic Oracle for price security. Sumero enables anyone to mint and trade these synthetic assets without the need for a financial intermediary. DeFi enthusiasts looking to gain exposure to assets outside the highly correlated crypto-asset class can mint and purchase these synthetic assets on Sumero. Without having to sign up to any financial intermediary, one can simply swap another asset they own for a synthetic asset and gain exposure. Since these synthetic assets exist in an open financial system, their owners can even put them to work in further ways. For example, they could be lent out to traders looking to make leverage bets in return for a fixed income on top of the expected return from price appreciation.
Last modified 15d ago