Umee Finance Raises $6.3 Million From Seed Founding Round
Decentralized infrastructure for cross chain interactions between network Umee Finance heartily announced that they have raised $6.3M funds from private seed funding round. The Umee network has been focused on building the next generation of Cross Chain DeFi primitives for the crypto ecosystem. The round was led by Polychain with participation from investors including Ideo Colab, Coinbase, Tendermint, Brian Kelly Capital Management, Alameda Research, CMS Holdings, Argonautic Ventures and Joe Lubin via Ethereal Ventures. Many influential groups throughout the Cosmos and Ethereum ecosystem have shown solid support for this project
Umee connects users to create lending and borrowing positions, move capital across chains, discover new yield opportunities and explore DeFi applications intersecting networks in a seamless and trustless manner.
Umee Goals
∇ Cross chain Support—Users interact with multiple networks seamlessly without relying on centralized gatekeepers
∇ Capital Efficiency—Capital across networks will no longer exist in silos and liquidity is interconnected and accessed without borders
∇ Money Legos meets PoS—DeFi protocols will interact with Proof of Stake yields while staking derivatives create novel financial paradigms
∇ DeFi Hub—A universal, permissionless platform open to all users and projects to be part of their DeFi journeys
Umee DeFi Hub Will Focus On Three Key Pillars:
♥ Cross Chain Interest Rates−Introducing rate dynamics towards building the term structure of interest rates as they relate to crypto assets, using a combination of time value transformations and staking yields, with the goal of supporting crypto yield curves and staking curves.
♥ Multi-Chain Staking−Allowing proof of stake assets to exist on multiple blockchain ecosystems for interacting with DeFi primitives and allowing proof of stake consensus to contribute to the money lego’s paradigm.
♥ Interchain Leverage−Leveraging assets on one blockchain towards interfacing with assets on another blockchain for the purpose of improving capital efficiency and interoperability between chains.
Umee is built on Cosmos while leveraging IBC as a layer 0 protocol for cross blockchain communication and intero-perability.It will interface with multiple bridging solutions to create a universal crypto hub and will lead the way with interchain staking and delegations, cross chain liquidity mining and asset distributions, plus multichain stake-drops
ABOUT Umee Finance
Umee is decentralized infrastructure for cross chain interactions between networks. Umee connects users to create lending and borrowing positions, move capital across chains, discover new yield opportunities and explore DeFi applications intersecting networks in a seamless and trustless manner.
