Umee

chain-id - umee-1

What is UX? UX 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 UX to access cross-chain leverage and liquidity. The UX Blockchain facilitates interoperability for a Tendermint Proof of Stake protocol with the Cosmos ecosystem, Ethereum network, side chain architectures, layer two scaling solutions, and alternative base layer protocols.

As a Cosmos SDK blockchain, the UX Chain is interoperable with blockchains including Terra, Crypto.com, Binance Chain, Osmosis, Secret Network, and 30+ other chains, plus Ethereum, from Day 1.

Why was UX created? UX was created to address three main issues that exist in DeFi:

Detached Yields
Concentrated Systematic Risks
Isolated Capital

UX plans to break the inherent silos between blockchains by utilizing bridging solutions towards interconnecting blockchains and encouraging better capital efficiency. The eventual goals will be to enable interchain lending and borrowing, multi-chain staking and delegations, plus cross chain defi rates.

What is the native UX token? The native UX token is a Proof of Stake asset that can exist as a Cosmos SDK token and an ERC20 token on Ethereum. UX tokens are used to pay for network fees on the UX Chain, to provide Proof of Stake consensus to the UX network, and for protocol governance.