What is Umee?

Umee launched its mainnet in February this year and is a layer one blockchain with interoperability at its heart. Built on the Cosmos SDK and fueled by Tendermint Consensus, this blockchain seeks to bring the bond markets to crypto. Umee has three central goals: creating a cross-chain borrowing and lending platform, establishing a crypto-native structure of interest rates, and becoming an interoperable multi-chain bond market.

At its base level, the Umee blockchain acts as an interconnective layer between blockchains introducing cross-chain composability, allowing users to supply assets on one chain, borrow from another, and even access cross-chain leverage. Umee has created a DeFi hub where developers can build, and it is already interoperable with over 40 major blockchains. Umee, the DApp (decentralized application) represents the borrowing hub of the Cosmos ecosystem allowing Inter-Blockchain Communication (IBC) standard assets to be borrowed inter-chain. As well as the Cosmos ecosystem Umee also connects to the vast Ethereum network through the Gravity bridge.

Umee possesses a self-sovereign validator network, and this Proof of Stake (PoS) blockchain allows the staking of the native token UMEE. Additionally, Umee has begun building an oracle network requiring validators to operate an oracle module- something the Cosmos ecosystem direly needs.

In short, Umee is a universal borrowing and lending hub that interconnects markets across multiple chains.

Umee represents the next evolution of the popular DeFi lending protocol Aave, and it leverages lots of existing technology to provide this leap forwards for crypto lending and borrowing. Understanding Umee requires understanding the underlying technology: the IBC protocol, Cosmos SDK, Tendermint, and the gravity bridge. Umee leverages all these money legos to deliver its inter-chain borrowing and borrowing.

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