About umee

Umee is a cross chain DeFi hub that interconnects between blockchains.

As a base layer blockchain, applications and money lego primitives can be built on top of Umee to access cross chain leverage and liquidity. The Umee Blockchain facilitates interoperability between the Cosmos ecosystem, Ethereum network, side chain architectures, layer two scaling solutions, and alternative base layer protocols.

What is Mainnet?

Innovation in DeFi is relentless. Cross chain lending and borrowing.

Users will be able to lend and borrow assets from across different ecosystems natively on Umee — say if you have ETH, you can deposit your ETH and borrow Atom on Umee and earn 10% Atom staking yield right away through staking it on the Cosmos Hub, or use it for liquidity mining on Osmosis.

Of all the proposals that will be presented by the community, one of the more important topics will be the listing of new assets on the Umee platform. As a decentralized project, community is crucial to our success. Umme are excited to see what the community determines will push Umee to the next level!

In the more immediate future, Umme will be launching the native lending module on the Umee chain! Look for an announcement in the coming days to know when it launches live. As for the web app, it will continue to live on testnet for the next week as we have extended the Umeeverse Party until Feb. 20th! Mainnet will then be launched on the web app afterward. So, make sure you participate in the Party for your chance to earn some UMEE tokens!

What is Proof of Stake?

Proof of Stake (PoS) is a blockchain consensus mechanism that requires network participants, called “validators,” to lock up cryptocurrencies as collateral in order to be able to confirm and include transaction data on the blockchain in exchange for new units of cryptocurrencies, called “rewards.” per block. Validators who fail to properly participate in the PoS consensus are penalized by having some of their collateral “cut off” or removed, so validators are financially incentivized to keep the blockchain running and secure.

 What is the best thing about Umee Bridge?

For us, its best feature is security and decentralization.

 When an asset is bridged in any direction of UMEE <-> ETH, the original assets are protected by a decentralized set of validators without the permissions of the Umee blockchain through a multi-sig process. Absolutely no centralized third party can take over the custody of funds transferred through the bridge, the security of funds is guaranteed by the Umee Tendermint BFT consensus mechanism.

There is no risk of compromising the centralized wallet or centralized private keys. Umee's Gravity Bridge module has been designed to provide the best cross-chain security on the market and aims to be fully interoperable with any EVM-compatible networks using Gravity Bridge, and ultimately ensure further interoperability with more blockchains.

Umee uses Gravity Bridge as a base module and has further developed it to provide a custom implementation with a relayer called Peggo. If this is rocket science for you, then everything is in order. You can think of Peggo (which is used by all Umee validators) as a "mechanism" that synchronizes, validates, and relays asset transfers across the Umee bridge. The Umee bridge uses the Gravity smart contract, which allows two-way transfer of transactions between UMEE <-> ETH and plays an important role in allowing users to mint their tokens across chains.

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About umee

Umee is a cross chain DeFi hub that interconnects between blockchains.

As a base layer blockchain, applications and money lego primitives can be built on top of Umee to access cross chain leverage and liquidity. The Umee Blockchain facilitates interoperability between the Cosmos ecosystem, Ethereum network, side chain architectures, layer two scaling solutions, and alternative base layer protocols.

What is Mainnet?

Innovation in DeFi is relentless. Cross chain lending and borrowing.

Users will be able to lend and borrow assets from across different ecosystems natively on Umee — say if you have ETH, you can deposit your ETH and borrow Atom on Umee and earn 10% Atom staking yield right away through staking it on the Cosmos Hub, or use it for liquidity mining on Osmosis.

Of all the proposals that will be presented by the community, one of the more important topics will be the listing of new assets on the Umee platform. As a decentralized project, community is crucial to our success. Umme are excited to see what the community determines will push Umee to the next level!

In the more immediate future, Umme will be launching the native lending module on the Umee chain! Look for an announcement in the coming days to know when it launches live. As for the web app, it will continue to live on testnet for the next week as we have extended the Umeeverse Party until Feb. 20th! Mainnet will then be launched on the web app afterward. So, make sure you participate in the Party for your chance to earn some UMEE tokens!

What is Proof of Stake?

Proof of Stake (PoS) is a blockchain consensus mechanism that requires network participants, called “validators,” to lock up cryptocurrencies as collateral in order to be able to confirm and include transaction data on the blockchain in exchange for new units of cryptocurrencies, called “rewards.” per block. Validators who fail to properly participate in the PoS consensus are penalized by having some of their collateral “cut off” or removed, so validators are financially incentivized to keep the blockchain running and secure.

 What is the best thing about Umee Bridge?

For us, its best feature is security and decentralization.

 When an asset is bridged in any direction of UMEE <-> ETH, the original assets are protected by a decentralized set of validators without the permissions of the Umee blockchain through a multi-sig process. Absolutely no centralized third party can take over the custody of funds transferred through the bridge, the security of funds is guaranteed by the Umee Tendermint BFT consensus mechanism.

There is no risk of compromising the centralized wallet or centralized private keys. Umee's Gravity Bridge module has been designed to provide the best cross-chain security on the market and aims to be fully interoperable with any EVM-compatible networks using Gravity Bridge, and ultimately ensure further interoperability with more blockchains.

Umee uses Gravity Bridge as a base module and has further developed it to provide a custom implementation with a relayer called Peggo. If this is rocket science for you, then everything is in order. You can think of Peggo (which is used by all Umee validators) as a "mechanism" that synchronizes, validates, and relays asset transfers across the Umee bridge. The Umee bridge uses the Gravity smart contract, which allows two-way transfer of transactions between UMEE <-> ETH and plays an important role in allowing users to mint their tokens across chains.

Twitter | Telegram | Discord | Github | Blog | Reddit | Docs | Whitepaper