Topic: [UMI] UMI — Universal Money Instrument - page 7. (Read 3288 times)

UMI staking participants do not need to freeze coins - they can be withdrawn from staking at any time without losing interest.
New coins are created immediately in the wallet, and only the user has access to them. At the same time, you can start creating new coins today with any wallet balance from 20 UMI.

UMI Active on DeFi Market — Today!
New blockchains and decentralized exchanges
 
A while ago the ISP Club Team took UMI to the decentralized finance (DeFi) market. The team tokenized the coin in the Ethereum blockchain, created the WUMI token and added it to the biggest decentralized exchange Uniswap: https://v2.info.uniswap.org/token/0x46943113ae84e732bb510b5f7686d8b76ff56774
 
We have three more awesome pieces of news for you:
 
- In addition to Ethereum, WUMI tokens were also created in Binance Smart Chain, TRON and Polygon (previously Matic Network) blockchains. Polygon is a layer 2 solution for the Ethereum network enabling transactions with lower fees.
 
- Tokens have been added to the most popular decentralized exchanges:
 
PancakeSwap (Binance Smart Chain) — https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x46943113ae84e732bb510b5f7686d8b76ff56774
 
JustSwap (TRON) — https://justswap.io/#/scan/detail/trx/TDH9sTjrxgrL8oogwMYw4Lq8UK25pTfp3d
 
QuickSwap (Polygon, previously Matic Network) —
https://quickswap.exchange/#/swap?outputCurrency=0x10Adf16a60F0020477c70473D6EA595D9bc29372
 
We also added reserves to the https://umiswap.online/ exchange platform so that anyone can now easily exchange UMI for tokenized WUMI and vice versa.
 
Starting from today, we expect a surge in UMI activity on the DeFi market. Meanwhile, we're preparing detailed guidelines on using WUMI in all popular blockchains for you. Our partners also regularly publish useful and interesting information about DeFi, tokenization and decentralized exchanges on their media channel: https://t.me/SIGEN_Media
 
Let's skyrocket together. Sincerely yours, UMI Team!
 
P. S. Just a reminder: you can learn more about UMI on the DeFi market on our blog: https://blog.umi.top/?p=2247

UMI is very easy to use. You don’t need to be a techie to do this, be able to configure nodes, and so on. It is enough to download the application to your smartphone — and you already get access to full-fledged work with cryptocurrency and can make instant and free transfers to any country in the world.
A few more clicks will allow you to connect to one of the staking pools to create new UMI coins at a rate of up to 40% per month through staking on a smart contract.

The UMI team opened the source codes of the network and smart contract for staking. Like Satoshi Nakamoto, she put the instrument in the hands of humanity. Anyone can make sure that everything is absolutely transparent and honest!

The UMI source code is available at the links:

https://gitlab.com/umitop
https://bitbucket.org/umitop

Sometimes criticism is heard against the UMI cryptocurrency about the "murderous emission", which supposedly, sooner or later, will lead to hyperinflation, which will "ruin" the coin.

As a rule, this is said by people who do not delve into the principles of UMI and compare staking with a traditional bank deposit, where such high interest rates are simply unrealistic, and the cryptocurrency itself is with the notorious financial pyramid that deceives depositors.

However, both of these statements are fundamentally wrong. We have debunked all the myths about the "killer emission" of UMI for a long time in our article at the link:
https://blog.umi.top/?p=1835

UMI Successfully Entered DeFi Market!

Friends, we regularly inform you that UMI cryptocurrency never stops to develop. Today’s news is the most dramatic confirmation of this statement.

UMI cryptocurrency has successfully entered the Decentralized Finance market — DeFi!

Our partners from ISP Club have tokenized UMI cryptocurrency and added it to the most popular decentralized crypto exchange Uniswap with operations based on the Ethereum blockchain.

What is tokenized UMI? What is decentralized exchange? Why do we need this? Read on to find out.

Tokenization is the today’s trend in the cryptocurrency industry. It helps cryptocurrency based on one blockchain exist in another blockchain (it means a tokenized coin can also be used for transfers in other cryptocurrency networks).

For instance, BTC successfully operates within the Ethereum blockchain as the WBTC token.

ISP Club Team:

- Tokenized UMI cryptocurrency within the Ethereum blockchain (thus having created WUMI in equivalent to WBTC);

- Also added a trading pair with the USDT stablecoin on the most popular decentralized crypto exchange Uniswap —

https://info.uniswap.org/pair/0x7506b59c90660af771534da97564203a60530ef7

- In future, ISP Club will tokenize UMI on other popular blockchains: Binance Smart Chain, TRON and Solana.

How and why can you obtain tokenized coins?

- ISP Club Team has created the Umiswap fast buy/sell service (not to be confused with Uniswap) — https://umiswap.online/. Here, users can exchange conventional UMI coins for tokenized UMIs on other blockchains (initially, you can exchange coins for tokenized UMIs on the Ethereum blockchain). The service is currently out of operation, but will soon be launched.

- You can also buy tokenized UMIs for USDT on the Uniswap exchange: https://info.uniswap.org/pair/0x7506b59c90660af771534da97564203a60530ef7

You can use tokenized UMIs as you see fit. You can make transfers, use coins within the DeFi ecosystem and trade them for USDT at Uniswap. Users can already launch DeFi Staking and will soon be able to launch Yield Farming of tokenized UMI.

What does it mean for UMI and network users?

- It means we can use DeFi Staking and Farming of UMI. Even now anyone can add WUMI to the liquidity pool at the Uniswap decentralized exchange and thus launch DeFi Staking — it’s when you enable use of your coins for trading and are paid a fee collected from traders for running trading transactions. The fee amounts to 0.3% and is distributed among liquidity providers in proportion to their input. Moreover, in future ISP Club will enable us to engage in profitable Yield Farming of WUMI — when liquidity providers will be awarded with both a fee and an additional reward in the form of tokenized UMI.

- Opportunity to buy/sell UMI for the most popular stablecoin USDT, with its price directly pegged to the US dollar. For instance, if you want to buy UMI for USDT, you can easily do so: buy WUMI for USDT at Uniswap, then exchange WUMI for UMI at the Umiswap service. You can also sell UMI for USDT the same way, in reverse order.

- Expansion into new markets. Decentralized Finance is the key trend on the cryptocurrency market in 2020–2021, and UMI follows this trend. Our cryptocurrency can now be used in any app of the DeFi ecosystem. We’d like to stress that the DeFi sector is already worth $136 bln in cryptocurrency while the trading volume has reached $163 bln in April.

- Coverage of a huge audience. Expansion to the DeFi market will present UMI as a promising cryptocurrency to an enormous number of crypto enthusiasts who might start using it. It means millions of new potential users.

- More opportunities for the UMI community. The DeFi sector opens up new horizons and UMI use cases on the cryptocurrency market. If you need to use UMI on the Ethereum, Binance Smart Chain and other blockchains, you will now be able to do it.

The cryptocurrency market is now estimated at over $2 trln, and UMI is now closer to each user in the industry. It’s another step on the path to large-scale acceptance of UMI all over the world. It’s just great.

We’d like to express our deep gratitude to our partners from ISP Club for their great contribution to developing the UMI cryptocurrency. It’s an important thing to do, a stepping stone to the future. We’re really proud of our collaboration and appreciate your work and high professionalism as you did all this on your own, from scratch. Expansion to the DeFi market means that millions of new users from all over the world can find out about UMI and it’s largely your achievement.

We’d like to remind you that ISP Club is our strategic, powerful IT partner that is also developing some other products, including UMI cards. We’re always happy to support them as we work together towards a common goal of making UMI as easy-to-use and efficient as possible for users from all over the world. ISP Club and the UMI Team together bring the decentralization ideology to the masses, and today’s news is one of the most important steps on the path to achieving all our goals. That’s just the beginning. ISP Club, you’re awesome!

Sincerely yours, UMI Team!

P. S. Expansion to the DeFi market is a nice supplement to the existing UMI functionality. Meanwhile, UMI blockchain as well as staking smart contract continue to operate as usual. You can still use UMI blockchain for free and instant transfers of cryptocurrency to anywhere in the world as well as for staking at the rate of up to 40% a month. Users who are not interested in DeFi will notice no changes (except new prospects). All others will have more opportunities as to how they can use UMI.

P. S. S. Here are all links as a reminder:

– Buy/sell tokenized UMI (WUMI) for USDT and launch DeFi Staking at the Uniswap exchange:

https://info.uniswap.org/pair/0x7506b59c90660af771534da97564203a60530ef7

– Exchange UMI coins for tokenized WUMI and vice versa at the Umiswap service: https://umiswap.online/

– In the near future we will also publish a detailed guideline on buying/selling tokenized coins and using them in DeFi.

11 Months of Success!

11 months ago to the day, on June 1, 2020, the world welcomed creation of UMI cryptocurrency. It seems like it was just a little while ago, but it’s almost been a year.

We continue to develop, while UMI community continues to grow. We suggest that you have a look at the numbers to see what we all have achieved over this time.

- UMI network has registered nearly 220,000 addresses and additional 175,000 addresses have been registered within staking structures. So the network now comprises nearly 400,000 addresses. Our cryptocurrency is in high demand for both transfers and staking.

- UMI network has already processes over 6 mln transactions, with 2,535,000 blocks created. Both indicators have doubled over the last three months!

- The number of UMI coins has exceeded 130,000,000 with over 115,000,000 coins (88.4%) used for staking that now earns 32% a month.

- UMI price has exceeded $2.20 which is twice as much as at the beginning. The price changes depending on supply and demand, but so far we’ve only seen the price steadily grow which proves increased demand for the coin once again.

- At the same, UMI buys offers now total $22 mln while sell offers only amount to $600,000. As a reminder, you can track coin liquidity in real time at https://umi.top/ru/liquidity (the algorithm has been improved and does not include questionable offers from SIGE[Suspicious link removed]o P2P platform now).

- Daily volume of UMI trading floats around $3,000,000 — https://umi.top/ru/volumes. This indicator has been sustainably growing over the entire period of cryptocurrency evolution.

All the numbers mentioned above are gradually growing, day by day. We’re proud to see that we have created a cryptocurrency the community really needs. At the same time, we don’t stop, we continue to move forward, with UMI community grows stronger by the minute.

Let’s celebrate all our achievements, but remember that it’s just a start. UMI cryptocurrency is capable of conquering the entire world, and our cryptocommunity stands a good chance of achieving this.

In a month, we’ll have existed for a whole year. A year of sustainable and successful work!

Sincerely yours, UMI Team!

Friends, we are constantly developing the UMI cryptocurrency ecosystem to provide you with the most comfortable and intuitive service. We have released another update of the mobile application for all operating systems at once.

List of changes:

Fixed the work of the application widget based on iOS.
Reduced the requirements for the iOS version to 12.1 (now the application works on earlier OS than before).
Added a number of minor improvements and improved optimization.

The updated UMI application is available at the links:

For iOS: https://apps.apple.com/ru/app/umi-wallet/id1527992117
For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
For Huawei:
https://appgallery.cloud.huawei.com/ag/n/app/C104241307

Best regards, UMI team!

Over the past two years, the number of cryptocurrency investment funds has increased significantly.

So, according to Crypto Fund Research, in the middle of last year there were 804 crypto funds in the world, 357 of which are hedge funds, 411 are venture funds, and 35 are cryptocurrency ETFs and private equity funds. The rise in their popularity is understandable.

For clarity: the average return of a traditional fund is 5-10% per year, and a cryptocurrency fund is 90% in 2016, 1708% in 2017, 19% in 2019.

We recently talked about the problems of the Bitcoin network — long and expensive transactions. Ethereum was created as a more technological solution. Many people attribute to this cryptocurrency the status of «bitcoin killer».

Ethereum is indeed more technologically advanced, thanks in large part to advanced smart contracts that allow many different applications to be built. However, this cryptocurrency has the same problem — low bandwidth. The fact is that Ethereum is built on a Proof-of-Work consensus algorithm similar to Bitcoin.

Now Ethereum is in high demand due to DeFi. As a result, we see the cost of transactions in the amount of $ 20- $ 30, and sometimes more.

UMI uses an advanced Proof-of-Authority consensus algorithm. Thanks to this, cryptocurrency users can carry out instant and free transactions around the world.

UMI is ideal for transfers around the world.

Initially, bitcoin was created as a tool for anonymous, fast and cheap transactions. At that time, banks offered (and still do) international payments with crazy commissions, mandatory confirmation of the source of origin of funds, identity verification and a transfer that can be frozen or delayed for several days.

Bitcoin, on the other hand, allowed making fast cheap transactions without identity verification. Anyone can create a wallet and use BTC at any time.

However, over 11-12 years, the BTC rate has grown significantly, the load on the network has increased, and the fees in the Bitcoin network are no longer so small. It is quite possible to pay $ 10- $ 20 for a translation, and sometimes even more.

Therefore, new cryptocurrencies appear with more technological solutions, such as UMI. UMI cryptocurrency allows free transactions at instant speed around the globe. And as a nice bonus, you get staking up to 40% per month.

UMI is the future.

Maximum convenience, easy scalability and smart contracts open a new stage of economic relations, covering all areas of human activity.

UMI is a real alternative to the current financial system, capable of creating the world’s most powerful society with billions of members around the planet!

Cryptocurrencies are building an alternative to the existing financial system, making it more profitable, more convenient and safer.

Therefore, there is no doubt that the entire crypto market will be a huge success. And UMI is an integral part of this market, moving to the top along with bitcoin and other cryptocurrencies towards a new future.

Join us. Let’s change the world together!

Despite its high-tech nature, the UMI cryptocurrency primarily focuses not on cooperation with large companies and influential crypto enthusiasts. UMI plans to cover the whole world, providing absolutely all inhabitants of the planet with the possibility of simple, instant, free and secure transfers, as well as profitable staking.

Neither country, nor age, nor employment, nor political views, nor religion matter. None of this matters. The main thing is that you are human, which means that you can use the new cryptocurrency. The UMI team intends to develop a community in all countries of the world where digital money is not prohibited by law.

UMI ultimately has the potential to bring the whole world together. This cryptocurrency is able to become the main means of payment and the main source of profitable and safe multiplication of cryptocurrencies based on smart contracts.

UMI is a unique product that intends to set a trend and lead the entire planet into the future.

UMI Infrastructure

From its early days, UMI has never been an attempt to copy another cryptocurrency; it was created from scratch. One of the key tasks pursued by the developers was creation of a fully functional cryptocurrency that would be just as easy, convenient and habitual to use as conventional money.

Technically, it’s a really complex task. This is why we had to find an optimal approach for an effective solution. The system’s operational speed seems to be the most important factor for the user. For instance, if you use UMI to pay for goods at various online stores, automatic transactions will be processed immediately, just as payments via a payment terminal. Many cryptocurrencies are too slow in terms of transaction confirmation which makes it impossible to actually use them as means of payment.

To ensure robust speed of transaction processing, we had to introduce new technical requirements for master node operation. At the same time, any network users, even those without a powerful PC, can launch validator nodes. If validator nodes have insufficient resources during a peak load period, a block would be processed with a minor, non-critical delay. Validator nodes cannot generate new blocks, but they do verify each newly created block. It means that even if an owner of a master node tries to defraud the system, such a block wouldn’t be validated and the master node would be blocked.

Since, however, most network users see no point in storing the ever-growing blockchain on their device and wasting resources on validating it, we’re working on a lite version of a node — the official desktop wallet that can optionally be used as a fully functional validator node. Any user who installs the official wallet on their PC, tablet PC or phone can be sure of the authenticity of data displayed on their screens. Lite nodes will operate robustly and effectively: they’re not demanding in terms of Internet connection, do not require a lot of space, make your battery go flat or slow down your device.

Another equally important task is ensuring robust operation of both the entire system and all products of the UMI infrastructure. Many people do not live in metropolitan cities or next to cellular towers and do not have a broadband Internet connection. This is why we’ve made a point of ensuring all our products can operate under rough conditions. We grow, we select time proved tools and we don’t pursue technology for its own sake. This is how we could launch an official public API while also providing reliable protection against DDoS and other malicious uses. This, in its turn, guarantees robust and secure operation of all services for our users.

Please, let us know in the comments whether you understand ideas in the article and find them interesting. What else would you like to know more about?

Sincerely yours, UMI Team!

Cryptocurrencies as an asset can become an excellent diversification tool that is used by investors in order to reduce the risks of loss of invested funds.

This is supported by research by Jim Kyung-soo Liu and Levard Hewlett on the optimal allocation of bitcoins in the portfolios of large institutional investors.

According to their calculations, the optimal share of BTC in the portfolio is 1,3%. This percentage of bitcoin diversifies risks and makes a profit.

Dear developers! Our team is willing to accept applications for grants awarded for the creation and development of products based on or using UMI.
 
We receive a lot of applications by e-mail, BUT they are not specific enough: without a product or its adequate presentation. We do not review such applications.
 
To qualify for a grant, please, provide a DETAILED PRESENTATION. Ideally, it must include a ready-to-use or minimal viable product (MVP) that can be used or tested.
 
In your presentation, make sure:
 
- You describe your product in as much detail as possible. Explain why it is useful for our crypto community and UMI. Why should we award the grant to YOU?
 
- You provide a step-by-step plan of product creation/development and indicate how many coins you need for each step and why. All grants will be dispensed on a step-by-step basis.
 
Please, submit your presentations to [email protected]
Applications with no presentation shall not be reviewed and shall receive no response.
 
Sincerely yours, UMI Team!

Billions of investments of large players are able to support the price of cryptocurrencies and market capitalization.

Institutional investors can enter a significant amount of money into the market, significantly saturating it with liquidity. This will help prevent crashes like those in early 2018.

Innovative staking on a smart contract turns UMI into a decentralized cryptocurrency multiplication tool that works for all of humanity. He will bypass banks and states, and new coins fall straight into your hands.

Many experts believe that institutional investors will provoke a rise in prices for cryptocurrencies, and bitcoin can become the main investment resource. At the same time, the growth will not necessarily be sharp. There is a point of view that it is no longer worth waiting for an ultra-fast rise in prices — with institutional money, the market is waiting for a slow stable growth without strong jumps.

Moreover, there are virtually no limits to Bitcoin’s growth. In June 2020, experts from the Messari analytical company calculated that if institutional investors invest only 1% of their trillion-dollar portfolios in the market, this will raise the price of BTC to $ 50,000, other cryptocurrencies will also rise in price, and the capitalization of the entire crypto market will grow to $ 1-2 trillion. But given that the threshold of $ 50,000 for 1 BTC has already been reached, in practice the numbers may turn out to be significantly higher. But what if the institutional investors invest not 1%, but much more?