Umee

Umee is a cross-chain DeFi hub facilitating decentralized interactions among various blockchain networks. It offers users the ability to move their capital across chains, discover yield opportunities, develop cross-chain leverage, as well as explore DeFi applications available on the blockchain ecosystem.

The cross-chain DeFi hub is able to collateralize assets on a blockchain towards borrowing assets on another one. It specializes in the usage of staked assets from POS blockchains as collateral used in borrowing across blockchains. Umee utilizes a mix of algorithmically determined interest rates that are based on market-determined conditions. The cross-chain DeFi protocol is expected to allow different decentralized finance products.

The major products include a suite of DeFi primitives capable of integrating with the general money legos narrative as related to DeFi products. Some of the products include the following:

• borrowing and lending
• multi-chain liquidity mining incentives
• proof-of-stake consensus
• yield aggregators
• staking derivatives
• cross-chain bridges
• integration with Dex's
• DeFi rate protocols
• IBC-compatible solutions

As a result of the utilized interoperability of the Tendermint PoS consensus mechanism, Umee can be integrated with Ethereu, Cosmos, side chains, layer-two chains, and alternative base-layer protocols. It was supposedly developed to address three major issues affecting DeFi, such as detached yields, concentrated systemic risks, and isolated capital. The plan is for Umee to become a complete DeFi hub linking different ecosystems. This includes possessing its own interest rate instruments as well as other financial primitives offering financial infrastructure to the cryptocurrency industry.

In Umee's 2022 roadmap, there are plans to launch its lending and borrowing application on various blockchains, such as BSC, Solana, Polygon, Arbitrum, and Optimism. In addition, it also sees protocol developments atop its base layer, like meTokens, Staking Curves, and DeFi Debt Protocols. Umee's Gravity Bridge creates links between Cosmos and Ethereum and therefore facilitates transfers among two ecosystems that possess opposing value propositions. Its Universal Debt Facility is another main feature. It is a base layer lending protocol that allows developers to deploy personal customized debt instruments. As a result of its modular design, DeFi protocols and future lending pools are able to build interfaces atop it.

Umee Testnet Web App: Web App User Flow

Umee’s native token is referred to as UMEE. The major purpose of the token is powering the PoS consensus of the blockchain while enabling the community to utilize and govern Umee, as well as the applications that are built on top. Ten billion is the overall supply of UMEE tokens, uncapped. UMEE is slated to exist in both ERC20 plus Cosmos SDK format. Users who desire to convert from one to another need to enter the Umee Application page and utilize the convert function via Umee’s gravity bridge. Over time, there is an inflation and deflation feature in place supposed to align the token distribution alongside long-term Umee supporters.

The platform's meTokens are utilized for collateralized liquid staking positions. Illustratively, a trader can possess a staked position on a blockchain via the Umee ecosystem and utilize this staked collateral, which is represented by a meToken, in order to open a different position in another ecosystem. Additionally, its uTokens serve an identical function for assets that are lent via Umee's Universal Debt Facility. Traders get interest on these lent assets, and uTokens are representatives of both the lent assets plus the accruing interest.

Token Distribution & Release Schedule