Dear Hart,
I hope you’re doing well.
I have been investing in UMA for the past four years and have remained a committed supporter, consistently participating in governance. As one of the Top 10 all-time UMA voters, you may recognize me as Batuhan Y.
I’m reaching out because I am deeply concerned about UMA’s tokenomics and long-term sustainability. UMA was once ranked in the Top 50 globally, but it has now fallen to around 300th in market cap, according to CoinMarketCap. Despite achieving a TVL of $2 billion, the protocol does not generate revenue, which has led to significant selling pressure as people utilize high APRs and sell their rewards.
I firmly believe it’s time for UMA to start charging for its services to platforms like Polymarket, oSnap, and others. The revenue generated should directly benefit loyal UMA holders through a buy & burn mechanism. We need to incentivize accurate voting and truth-finding, but what is the long-term motivation if UMA’s token value continues to decline due to high inflation and an uncapped supply? Across has already capped its supply—shouldn’t UMA follow suit?
I have tried reaching out through multiple channels, including LinkedIn, but I have not received a response. As a dedicated UMA investor who has been buying UMA every month with my salary, I believe I at least deserve an acknowledgment.
During the last bear market, you encouraged the community to stay calm and trust the team. Now that we are in a bull market, investors are expecting a statement from you. UMA has immense potential, but action needs to be taken to align tokenomics with long-term growth and value appreciation.
I urge you to address these concerns and reassure the community that UMA will meet its true market value. Please don’t let us down.
Looking forward to your response.
Best regards,
Batuhan Y.