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==
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==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):


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===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 [insert here].
*Code can be viewed [https://github.com/umee-network here].
===Implementations===
===Implementations===
*Built on: [[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).
*Built on: Cosmos SDK
===How it works===
===How it works===
===Fees===
===Fees===
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===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===
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*[[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

  • Has inflation between 7 and 14%. And is uncapped.
  • From Citadel One (15-2-2022):

"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

Technology

  • Whitepaper or docs can be found [insert here].
  • Code can be viewed here.

Implementations

  • Built on: Cosmos SDK

How it works

Fees

Upgrades

"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

Validator Stats

Liquidity Mining

Scaling

Interoperability

"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

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

(:

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