UMA UMA

Commentary versus actual token vesting

Genesis buckets reconcile exactly to the published distribution — 48.5m + 35m + 14.5m + 2m = 100,000,000, variance 0.0000%. The only material deviation is in the project's favour: founders and early investors voluntarily extended their own lockup by two years in January 2021, with binding contracts and 100% participation, ending early 2023. Extension, not acceleration. The "cap" was never a cap. Reference material states a 101,172,570 total-supply cap; actual supply is 129,592,371.30 (+28.09% over that figure) and rising. Supply is uncapped by design. The issuance regime changed mid-life without changing the token contract: volume-linked 0.05%-per-vote (2020–2023) → fixed 0.155 UMA/s (2023–). ~12.7m UMA under the first regime, ~16.9m under the second (derived). The emission rate is governance-settable and can be changed at any time by vote. 35,000,000 community tranche: 98.32% still undeployed. Only 586,894.93 UMA has left the DAO governor since the transfer (derived, on-chain, 22 Aug 2026). 14,500,000 "reserved for future token sales": one disposition on the record in six years (~224,982 UMA at Range Token settlement). ~14,275,018 UMA (11.02% of current total) has no published disposition. No per-category release table with dates and amounts was ever published, and no consolidated page carries the release history. Everything above is assembled from four separate announcements spanning 2020–2023. Staking yield deviates from documentation: docs quote 28–32% APY; the observed emission-to-stake ratio implies ~18.2%. No governance-approved amendment, redistribution, delay or unexpected unlock is recorded anywhere in the located sources beyond the 2021 voluntary extension.