Hey Crypto Buddies!
Over the next few months, Umee network will be presenting an array of features and supplementary applications aimed at enhancing the DeFi experience across different blockchains.
Umee's mission is to provide innovative solutions that empower users to optimize their decentralized finance (DeFi) journey.
Following the successful launch of Umee Mainnet in February 2022, development team has accomplished significant milestones by introducing various protocol upgrades to incorporate cutting-edge features for cross-chain DeFi. To date, they have successfully introduced:
- The First Leverage Module Native to Cosmos
- The First Smart Oracle on the blockchain
- Combined Safety Features through IBC Rate limiting and Minimum Gas Price implementation
In the upcoming months, the network will showcase a range of enhanced functionalities and additional use cases specifically designed to enhance the cross-chain DeFi experience. They have divided their development epochs into three main phases: Marina, Hali and Yara. Here's a sneak peek of what's in store for Umee community.
MARINA
- Utilizing our foundational price feeds to develop a wider range of DeFi products, incorporating safety parameters through our IBC rate limiting module.
- Creating a smart contract framework to facilitate the integration of dApps onto the Umee blockchain.
- Streamlining Umee's infrastructure to reduce validator operational costs and overhead.
- Implementing community incentives to support the growth of the ecosystem.
HALI
- Expanding the leverage offerings to accommodate a wider range of use cases and markets. Currently, they offer lending and borrowing options for over 20 tokens, and they will introduce even more!
- Introducing an improved Liquidation Protocol that will ensure the stability of the protocol loan stack. They understand the importance of avoiding bad debt and preventing total loss. At Umee, they prioritize incremental liquidation (approximately 5%) to rebalance loans, setting them apart from other lending protocols.
- Enhancing the governance features to address emergency scenarios and implement responsive mechanisms.
- Developing a prototype for a cross-chain interface with the Ethereum ecosystem. They are expanding their reach to the world of cross-chain operations!
YARA
- Implementation of new tokenomics to optimize the crypto-economics of the entire Umee network.
- Introduction of Outpost and Virtual Liquidity mechanisms to demonstrate the extended functionality of DeFi money legos. In simple terms, they are simplifying the process of creating various financial products using Umee technology.
- Introduction of advanced interest rate algorithms to enhance the lending experience, along with innovative fixed duration lending tools for establishing a cryptonative yield curve. Bid farewell to volatile capital and feel secure participating in market-driven rates!
- Pursuit of a multi-chain vision to integrate the broader crypto ecosystem into the IBC network.
- Expansion of product development to include the incorporation of bond markets into DeFi. With a global debt market worth $200T, there is immense potential to explore, and they are just at the beginning of their journey!
