Umee is a Cosmos-based layer-one blockchain that aims to construct a worldwide cross-chain DeFi hub. It acts as the foundation for future DApps and money legos. Because of the compatibility of the Tendermint Proof-of-Stake consensus mechanism, the Umee blockchain can be connected with Cosmos, Ethereum, side chains, layer-two chains, and alternative base-layer protocols.
Umee intends to enable cross-chain lending and borrowing, as well as cross-chain DeFi rates, by delivering bridging solutions that boost capital efficiency and break the siloed structure of multiple blockchain ecosystems.
The native governance token, UMEE, is used in the network's PoS architecture for consensus validation. Users are able to earn network fees via token swaps and use UMEE to pay for gas on the network.
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