Cross The DeFi Wave
Content on this page was provided by the Umee team
Umee holds a multi-chain ethos, and as a network, natively integrates with the Cosmos ecosystem through IBC (Inter-Blockchain Communications) connections. IBC connections to other networks include the Cosmos Hub, Terra, Osmosis, Crypto.com, Injective, Thorchain, Secret Network, Akash, Starname, SifChain, Persistence, etc. In addition, Umee actively integrates with other ecosystems and enables cross chain connections with networks like Solana, Polygon, Optimism, Fantom, Arbitrum, Binance Chain, Avalanche along with many other blockchains on its roadmap.
| Option 1 | Option 2 | |
| Asset | UMEE tokens | UMEE tokens |
| Fixed Sale Price | $0.06 per token | $0.07 per token |
| Sale Period | December 1, 2021 17:00 UTC - December 7, 2021 23:59 UTC | December 1, 2021 23:00 UTC - December 7, 2021 23:59 UTC |
| Supply for Sale | 3% (300M tokens) | 2% (200M tokens) |
| Purchase Limits |
$100 min
$500 max |
$100 min
$500 max |
| Funding Methods | USDT, USDC, ETH, BTC | USDT, USDC, ETH, BTC |
| Lockup and Release | 2-month cliff followed by a 10-month linear release starting on or around February 15, 2022 | 2-month cliff followed by an 8-month linear release starting on or around February 15, 2022 |
| Excluded Participants | Excluded participants include residents of the US, Canada, China, and CoinList’s unsupported jurisdictions | Excluded participants include residents of the US, Canada, China, and CoinList’s unsupported jurisdictions |
| Sale FAQ | FAQ | FAQ |
* CoinList may in its sole and absolute discretion adjust the parameters of the CoinList website and/or access systems to prioritize access to the Umee sale or the processing of token purchases for certain high-quality users with demonstrated histories of positively contributing to token networks, existing Umee users, or otherwise evidencing indicia of crypto-savvy future players of Umee.
UMEE is the native Proof of Stake token of the Umee Blockchain. Blockchain participants use the token to pay for computation fees and to reward validators for providing Tendermint BFT consensus towards processing network transactions. The token is also a governance token for making decisions about the protocol configurations of Umee, parameters of the DeFi applications, as well as product and program proposals.
The UMEE token will exist as both a Cosmos SDK based token as well as a native ERC-20 token.
| Segment | Total Supply in % | Release Schedule |
| Community | 46% | Umee governance decides on the distribution plans through community incentive and grant programs; 6 years vesting |
| Ecosystem | 9% | Umee governance decides on the distribution plans through ecosystem programs; 8 years vesting |
| Team | 25% | 36 month lockup: 6 month cliff (no vesting) starting on or around Feb 15th 2022, followed by 30 month linear vesting |
| Advisors | 1% | 36 month lockup: 6 month cliff (no vesting) starting on or around Feb 15th 2022, followed by 30 month linear vesting |
| Seed Round | 13% | 24 month lockup: 6 month cliff (no vesting) starting on or around Feb 15th 2022, followed by 18 month linear vesting |
| Public Sale | 5% | See sales structure above |
| Strategic Round | 1% | 12 month lockup: 6 month cliff (no vesting) starting on or around Feb 15th 2022, followed by 6 month linear vesting |
The Umee Blockchain is built on a network of validators that contribute Tendermint BFT consensus to the protocol. Tokens are bonded to validators that stake to provide Proof of Stake to the network. Validators come from an open ecosystem of contributors and infrastructure providers. Tokens can also be delegated to validators by users to participate in the underlying consensus mechanism.
Network fees will be earned in the form of UMEE tokens by validator infrastructure providers. Similar to how ETH is used as a gas fee to pay for transactions on the Ethereum blockchain, UMEE is used as a gas fee to pay for transactions on the Umee Blockchain. Validators earn block rewards in the form of UMEE similar to how transaction fees are processed in native blockchain protocols.
The native UMEE token is also a protocol governance token used to facilitate on-chain governance for the Umee Blockchain. The governance token can be used to vote on configurations of the protocol as well as network upgrades for improving functionality of the blockchain infrastructure. The UMEE governance token will additionally govern DeFi parameters of applications that sit on top of the Umee base layer DeFi protocol.
Umee’s innovation is encapsulated through its design of a Universal Debt facility, an advanced base layer protocol built using the Cosmos SDK that allows developers to design, build, and deploy their own customized debt instruments. The Umee architecture incorporates a modular and extensible design that allows future iterations of sovereign loan pools and new DeFi Debt Markets. These tools are experimented and iterated towards allowing more optimal DeFi interfaces across protocols.
Umee realizes its cross chain debt functionality through innovation on its DeFi positions that relay a user’s position universally across platforms and blockchains. Instead of moving crypto assets directly, Umee iterates on its design of uTokens and allows users to reliably lend and borrow natively on a blockchain without introducing any additional base layer dependencies.
While staking is key to any Proof of Stake blockchain, Umee takes the mechanism one step further with the meToken. The meTokens represent staked positions participating in a Proof of Stake consensus mechanism. These can be used as collateral by Umee in order to take a loan position on any other chain. The meToken allows a seamless transition from staking to borrowing while allowing Proof of Stake yield to concurrently pay down interest payments from borrowing. This mechanism allows the protocol to achieve maximum capital efficiency and yield generation while contributing to the Proof of Stake network’s security.
| BRENT Brent is the founder of Umee. Prior to Umee, he led Strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Network. Prior to Cosmos, Brent was one of the first 30 employees at ConsenSys where he managed some of the key milestones throughout blockchain history such as ecosystem meetings around the DAO hack, the original listing of Ethereum on exchanges, as well as the promotion of Ethereum to worldwide governments and Fortune 500 enterprises. Prior to crypto, Brent traded bonds on Wall Street. |
 | ALEKS Aleks (also known as Bez) is the lead engineer of the Umee core blockchain network. Prior to Umee, he was the lead engineer of the Cosmos SDK. Aleks has been an ecosystem contributor to Cosmos since the inception of the blockchain and he is a primary contributor to the Tendermint Core consensus protocol. Aleks specializes in peer-to-peer networks, base layer protocols, distributed systems, proof of stake, and self sovereign blockchain networks. |
| ZAC Zac was an early ConsenSys employee alongside Brent during the initial launch of Ethereum. He wrote some of the original patricia merkle trie libraries of Ethereum that underpin the entire Ethereum blockchain today. Zac researched and contributed to some of the core Ethereum scalability protocols such as TrueBit, State Channels and Plasma which led to the successful development of modern day roll-ups. He also developed bridge protocols such as X-relay, which is a precursor to POA networks like xDAI. |
