General FAQ
What is 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. As a Cosmos SDK blockchain, Umee is interoperable with blockchains including Terra, Crypto.com, Binance Chain, Osmosis, Secret Network, and 30+ other chains, plus Ethereum, from Day 1.
The native UMEE token is a Proof of Stake asset that can exist as a Cosmos SDK token and an ERC20 token on Ethereum.
Why was Umee created?
Relayers compete to be the first in relaying a profitable batch. Orchestrators validate and sign batched transactions.
Who owns the Gravity Bridge?
Umee was created to address three main issues that exist in DeFi:
1. Detached Yields
2. Concentrated Systematic Risks
3. Isolated Capital
Umee 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 does the name “Umee” mean?
The name Umee was inspired by the Japanese word “Umi”, which translates to ocean. We use this water analogy to refer to the vision that transactions can happen without being restricted to specific systems; i.e. money can flow freely like water across different blockchains.
How can I get involved?
Umee releases new community programs and events on an ongoing basis to gather the community for fun events, new product testing, or to simply crowdsource wisdom on various topics. Join the discussion on Discord and follow Umee on Twitter to learn more. All of Umee’s official links can be found here.
