CoinList Announces Umee (UMEE) Token Sale On December 1 – The Quiz Answers

CoinList has announced that registrations for the Umee (UMEE) Token Sale are now open. The sale begins on December 1, 17:00 UTC.

What is Umee (UMEE)?

Umee is a cross chain DeFi hub that interconnects between blockchains. As a base layer DeFi protocol, a wide ecosystem of application layer protocols can be built on top of Umee. The Umee Blockchain facilitates instant interoperability using the Tendermint Proof of Stake consensus protocol with the Cosmos ecosystem, Ethereum network, side chain architectures, layer two scaling solutions, and alternative base layer protocols.

Key Highlights

A Base Layer DeFi Hub – The Umee Blockchain is built on the Cosmos SDK and Ethereum Virtual Machine for interconnecting between DeFi and lending specific use cases. Umee offers a flexible mix of speed and efficiency for blockchain transactions using a fast finality consensus protocol based on Tendermint Proof of Stake.

Proof of Stake Meets the Global Debt Markets – The initial product built on top of Umee will be cross chain borrowing and lending as well as the building blocks for onboarding global debt into DeFi. By creating tools for allowing new leverage components and interest rates, Umee is onboarding new markets and ecosystems into crypto and becoming the leverage facility for the blockchain world.

Cross Chain Interoperability – The vision of Umee is to spearhead the development of a multi-chain world and serve as a cornerstone to the overall blockchain ecosystem. Umee uses IBC (Inter-Blockchain Communication) which is the flagship Cosmos protocol for cross chain communication.

Token Economics

UMEE is the native Proof of Stake token of the Umee Blockchain. Blockchain participants use the token to pay for computation fees and to reward validators for providing Tendermint BFT consensus towards processing network transactions. The token is also a governance token for making decisions about the protocol configurations of Umee, parameters of the DeFi applications, as well as product and program proposals.

The UMEE token will exist as both a Cosmos SDK based token as well as a native ERC-20 token

Token Distribution

Backers

Team

Brent: Brent is the founder of Umee. Prior to Umee, he led Strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Network. Prior to Cosmos, Brent was one of the first 30 employees at ConsenSys where he managed some of the key milestones throughout blockchain history such as ecosystem meetings around the DAO hack, the original listing of Ethereum on exchanges, as well as the promotion of Ethereum to worldwide governments and Fortune 500 enterprises. Prior to crypto, Brent traded bonds on Wall Street.

Aleks: Aleks (also known as Bez) is the lead engineer of the Umee core blockchain network. Prior to Umee, he was the lead engineer of the Cosmos SDK. Aleks has been an ecosystem contributor to Cosmos since the inception of the blockchain and he is a primary contributor to the Tendermint Core consensus protocol. Aleks specializes in peer-to-peer networks, base layer protocols, distributed systems, proof of stake, and self sovereign blockchain networks.

Zac: Zac was an early ConsenSys employee alongside Brent during the initial launch of Ethereum. He wrote some of the original patricia merkle trie libraries of Ethereum that underpin the entire Ethereum blockchain today. Zac researched and contributed to some of the core Ethereum scalability protocols such as TrueBit, State Channels and Plasma which led to the successful development of modern day roll-ups. He also developed bridge protocols such as X-relay, which is a precursor to POA networks like xDAI.

Sale Details

The sale has two public options with different terms:

  • Option 1 will run from Dec 1 at 17:00 UTC
  • Option 2 will run from Dec 1 at 23:00 UTC
Option 1 Option 2
Asset UMEE tokens UMEE tokens
Fixed Sale Price $0.06 per token $0.07 per token
Sale Period December 1, 2021 17:00 UTC – December 7, 2021 23:59 UTC December 1, 2021 23:00 UTC – December 7, 2021 23:59 UTC
Supply for Sale 3% (300M tokens) 2% (200M tokens)
Purchase Limits $100 min
$500 max
$100 min
$500 max
Funding Methods USDT, USDC, ETH, BTC USDT, USDC, ETH, BTC
Lockup and Release 2-month cliff followed by a 10-month linear release starting on or around February 15, 2022 2-month cliff followed by an 8-month linear release starting on or around February 15, 2022
Excluded Participants Excluded participants include residents of the US, Canada, China. Excluded participants include residents of the US, Canada, China.

The Quiz Answers

For complete registration of Umee (UMEE) Token Sale on CoinList, you have to complete the qualification quiz, follow that:

Click Continue.

If you do not have Coinlist account, register here.

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