Difference between revisions of "Umee (UMEE)"
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[https://www.umee.cc/ Umee] provides users with the ability to easily lend and borrow across different [[blockchains]]. | [https://www.umee.cc/ Umee] provides users with the ability to easily lend and borrow across different [[blockchains]]. Built as a [[Cosmos (ATOM)|Cosmos]] blockchain. | ||
==Basics== | ==Basics== | ||
| Line 9: | Line 9: | ||
==Audits & Exploits== | ==Audits & Exploits== | ||
*[[bug bounty|Bug bounty]] program can be found [insert here]. | *[[bug bounty|Bug bounty]] program can be found [insert here]. | ||
*Had [https://umeeversity.umee.cc/overview/umee-overview/security-audits.html 7 audits] (31-8-2022). However, some are not viewable (14-11-2022). | |||
===Bugs/Exploits=== | ===Bugs/Exploits=== | ||
==Governance== | ==Governance== | ||
===Admin Keys=== | ===Admin Keys=== | ||
===DAO=== | ===DAO=== | ||
* [https://docs.umee.cc/umee-validator-dao/ Wants] to move towards a Umee Validator DAO (6-2022). | |||
===Treasury=== | ===Treasury=== | ||
==Token== | ==Token== | ||
| Line 23: | Line 27: | ||
===Token Allocation=== | ===Token Allocation=== | ||
* Has [https://umeeversity.umee.cc/overview/umee-token/tokenomics.html#supply inflation] between 7 and 14%. And is uncapped. | |||
* [https://medium.com/citadel-one/umee-overview-9fb7e495cba1 From] Citadel One (15-2-2022): | * [https://medium.com/citadel-one/umee-overview-9fb7e495cba1 From] Citadel One (15-2-2022): | ||
| Line 36: | Line 41: | ||
===Stablecoin=== | ===Stablecoin=== | ||
==Coin Distribution== | ==Coin Distribution== | ||
* Looking at their [https://www.mintscan.io/umee/validators explorer] (14-11-2022), [[Polychain Capital|Polychain]], [[Figment Networks|Figment]] and [[Stake.fish|StakeFish]] together own 20% of all stake.13 [[Node|validators]] together own 51%. | |||
==Technology== | ==Technology== | ||
*[[Whitepaper]] or docs can be found [insert here]. | *[[Whitepaper]] or docs can be found [insert here]. | ||
*Code can be viewed [ | *Code can be viewed [https://github.com/umee-network here]. | ||
===Implementations=== | ===Implementations=== | ||
*Built on: | *Built on: Cosmos SDK | ||
===How it works=== | ===How it works=== | ||
===Fees=== | ===Fees=== | ||
| Line 50: | Line 58: | ||
===Staking=== | ===Staking=== | ||
* Looking at their [https://www.mintscan.io/umee/validators explorer] (14-11-2022), [[Polychain Capital|Polychain]], [[Figment Networks|Figment]] and [[Stake.fish|StakeFish]] together own 20% of all stake.13 [[Node|validators]] together own 51%. | |||
====Validator Stats==== | ====Validator Stats==== | ||
===Liquidity Mining=== | ===Liquidity Mining=== | ||
| Line 55: | Line 66: | ||
===Interoperability=== | ===Interoperability=== | ||
* [[Ethereum (ETH)|Ethereum]] (11-2021) with [[Polygon (MATIC)|Polygon]], [[Arbitrum]], [[Optimism]], [[Solana (SOL)|Solana]] and [[Binance|BSC]] [https://medium.com/citadel-one/umee-overview-9fb7e495cba1 in the works] (2-2022). | |||
* [https://medium.com/citadel-one/umee-overview-9fb7e495cba1 From] Citadel One (15-2-2022): | * [https://medium.com/citadel-one/umee-overview-9fb7e495cba1 From] Citadel One (15-2-2022): | ||
| Line 107: | Line 119: | ||
===Pros=== | ===Pros=== | ||
===Cons=== | ===Cons=== | ||
* Had investment from bankrupt [[FTX (FTT)|Alameda Research]]/FTX. This could mean fall-out risk. | |||
==Team, Funding and Partners== | ==Team, Funding and Partners== | ||
===Team=== | ===Team=== | ||
| Line 112: | Line 127: | ||
*[[Brent Xu]]; founder and CEO. He previously worked for [[Consensys]] and [[Tendermint]]. Furthermore, he has experience in trading bonds on [[Wallet]] Street ([https://medium.com/citadel-one/umee-overview-9fb7e495cba1 15-2-2022]). | *[[Brent Xu]]; founder and CEO. He previously worked for [[Consensys]] and [[Tendermint]]. Furthermore, he has experience in trading bonds on [[Wallet]] Street ([https://medium.com/citadel-one/umee-overview-9fb7e495cba1 15-2-2022]). | ||
===Funding=== | ===Funding=== | ||
* [https://docs.google.com/spreadsheets/d/1xoYqw-5EjQIiunX75UzozzMPOspm0KwFzgA-SKBcvyo/edit#gid=0 Turned out] (8-12-2022) to have sold $600k worth of equity to [[Alameda]] during two rounds. | |||
*Has the following backers on their [https://umee.cc/ website] (14-11-2022): | |||
[[Polychain Capital]], [[IDEO CoLab Ventures|IDEO Co Lab,]] [[Coinbase (COIN)|Coinbase Ventures]], [[FTX (FTT)|Alameda Research]], [[Jump Trading]], [[Consensys]], [[Ignite (Company)|Tendermint]], [[CMS Holdings|CMS]], BKCM, [[GSR]], [[Figment Networks|Figment]], CosmoStation, [[Stake.fish|Stake Fish]], Argonautic Ventures, [[Algorand (ALGO)|Algorand]] | |||
===Partners=== | ===Partners=== | ||
Latest revision as of 07:05, 12 December 2022
Umee provides users with the ability to easily lend and borrow across different blockchains. Built as a Cosmos blockchain.
Basics
History
Audits & Exploits
- Bug bounty program can be found [insert here].
- Had 7 audits (31-8-2022). However, some are not viewable (14-11-2022).
Bugs/Exploits
Governance
Admin Keys
DAO
- Wants to move towards a Umee Validator DAO (6-2022).
Treasury
Token
Launch
"Umee has only conducted a public sale on Coinlist. The UMEE token is currently UNAVAILABLE for purchase. The Coinlist public sale has ended, and the TGE is expected to happen in mid-February, 2022."
Token Allocation
"There is a total supply of 10 billion UMEE tokens, uncapped, with an inflation and deflation mechanism in place to align the UMEE token distribution with long-term Umee supporters over time."
Utility
- From Citadel One (15-2-2022):
"The main purpose of the UMEE token is to power the PoS consensus of the Umee blockchain while allowing the community to use and govern Umee and the applications built on top."
Other Details
Stablecoin
Coin Distribution
- Looking at their explorer (14-11-2022), Polychain, Figment and StakeFish together own 20% of all stake.13 validators together own 51%.
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed here.
Implementations
- Built on: Cosmos SDK
How it works
Fees
Upgrades
- From Figment (26-10-2022):
"Umee announced their mainnet upgrade of the native lending and borrowing module, compatible with +40 IBC-enabled blockchains in the Cosmos ecosystem. This brings a whole new user experience making possible to leverage all Cosmos and Ethereum assets quickly and cost-effectively on the Umee blockchain."
Staking
- Looking at their explorer (14-11-2022), Polychain, Figment and StakeFish together own 20% of all stake.13 validators together own 51%.
Validator Stats
Liquidity Mining
Scaling
Interoperability
- Ethereum (11-2021) with Polygon, Arbitrum, Optimism, Solana and BSC in the works (2-2022).
- From Citadel One (15-2-2022):
"The UMEE token will exist in both ERC20 and Cosmos SDK format. If users want to convert from one blockchain to another, all they need to do is to go to the Umee Application page and use the convert function through Umee’s gravity bridge; such transactions will take sub minutes."
Other Details
Oracle Method
Privacy Method
Compliance
Their Other Projects
Roadmap
- Can be found [Insert link here].
- From Citadel One (15-2-2022):
"2021 October: Umee Network Deployment (Completed)
2021 October: Umee Ethereum Lending and Borrowing Application (Completed)
2021 November: Umee Network and Gravity Bridge Deployment (Completed)
2021 November: Umee Alpha Mainnet Launch (Completed)
2021 December: Umee Base Functionality Deployment on Testnet (Completed)
2021 December: Security Audits (Completed)
2022 January: Umee Network Lending and Borrowing Application testnet
2022 February: Umee Base Functionality Deployment on Mainnet and Token Launch
2022 March: Umee Lending Facility Upgrades
2022 April — Onward:
-Umee Polygon Lending and Borrowing Application
-Umee Arbitrum Lending and Borrowing Application
-Umee Optimism Lending and Borrowing Application
-Umee Solana Lending and Borrowing Application
-Umee Binance Smart Chain Lending and Borrowing Application
-Protocol developments on top of Umee: meTokens, staking curves, defi debt protocols
-Cross-chain lending and borrowing applications onto more networks"
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
- Had investment from bankrupt Alameda Research/FTX. This could mean fall-out risk.
Team, Funding and Partners
Team
- Full team can be found [here].
- Brent Xu; founder and CEO. He previously worked for Consensys and Tendermint. Furthermore, he has experience in trading bonds on Wallet Street (15-2-2022).
Funding
- Turned out (8-12-2022) to have sold $600k worth of equity to Alameda during two rounds.
- Has the following backers on their website (14-11-2022):
Polychain Capital, IDEO Co Lab, Coinbase Ventures, Alameda Research, Jump Trading, Consensys, Tendermint, CMS, BKCM, GSR, Figment, CosmoStation, Stake Fish, Argonautic Ventures, Algorand
Partners
- Part of the Cross Chain Coalition (27-10-2022)
(:
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