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[UMI] Universal Money Instrument - umi.top

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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! 

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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.

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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.

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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.

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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!

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11 Months of Success!

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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 SIGEN.pro 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!

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UMI Successfully Entered DeFi Market!

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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. 

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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. 
 

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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

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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. 

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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

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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

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Recently, the ISP Club team successfully brought UMI to the decentralized finance (DeFi) market and launched the new Umiswap exchanger. We would like to separately emphasize one important function of the exchanger.

Umiswap added support for Payeer electronic payment system for both UMI and WUMI tokens!

For now, you can:

- Buy / sell UMI cryptocurrency for Payeer USD.
- Buy WUMI tokenized coins for Payeer USD.

Today, many people use electronic payment systems (EPS), since this is a convenient way to transfer money on the Internet. Payeer is one of the most popular EPS.

Thus, the UMI becomes even more accessible to everyone, as more and more options appear for interacting with the cryptocurrency and its tokenized version.

Link to the Umiswap exchanger: https://umiswap.online/

Best regards, UMI team!

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Sometimes users ask us questions: «Is UMI a coin or a token? And what is the general difference between these two concepts?» 

We wrote a whole article about this. After reading it, you will understand that UMI is a full-fledged cryptocurrency, that is, a coin, and you will forever understand the difference between a coin and a token. 
Read here: https://blog.umi.top/?p=2035

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UMI turned one!

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Dear friends, we can’t believe how fast time has flown. It’s been a year since we launched the UMI blockchain. On June 1, 2020, the network was launched. It was the day when the first master nodes confirmed their first transactions and started controlling the rules to be complied with, thus supporting the UMI blockchain. Over one year, our cryptocurrency has grown to an enormous scale.

- The total number of UMI coins reached 180 mln, with 155 mln in staking smart contract. 

- Users created over 320,000 addresses; 250,000 addresses were created in staking structures. Just a month ago, these numbers were 220,000 and 175,000, respectively. Over one month, the number of wallets increased by more than 30%. It’s amazing! 

- The overall number of transactions run in the UMI network totals 8.5 mln. This number was just 6 million a month ago. In other words, in May, the UMI community made 2.5 million transactions. People use UMI  for both large and small transactions running around the world. 

- UMI blockchain now has over 3,000,000 blocks. 

- The UMI price is over $2. The cryptocurrency price more than doubled during this year. As a reminder, the initial UMI price was $1. At the same time, UMI’s capitalization exceeds $400 million. 

- Despite the bitcoin price drop, UMI’s liquidity (a total amount of buy offers) equals $14 million, against $350,000 as a total amount of sell offers. https://umi.top/ru/liquidity

- UMI trading volume reaches $3-5 mln per day. https://umi.top/ru/volumes

Even though the UMI cryptocurrency is swiftly growing, we’re striving to accomplish even more. We are continuously developing the UMI community, making UMI more convenient, more advanced, higher-performing, more efficient and eco-friendly, and less energy-consuming. 

On the occasion of UMI’s birthday,  our official website and all the documentation — Whitepaper, Yellowpaper, Onepager, brand book, and presentation – have been completely redesigned: 

- Site: https://umi.top/

- Wallet: https://wallet.umi.top/

- Blockchain: https://blockchain.umi.top/

- Whitepaper: https://umi.top/ru/about  

- Yellow paper: https://umi.top/ru/yellowpaper

- Brand book: https://umi.top/ru/brandbook

- Onepager: https://umi.top/ru/onepager

- Presentation: https://umi.top/ru/presentation

There’s more. Soon you will read a lot of exciting news and articles about the results of the year, new achievements, and plans for the future.

And right now, we’re celebrating UMI’s anniversary in Dubai’s best Luxury class venue — the world’s tallest skyscraper Burj Khalifa. A closed VIP party was arranged in the Armani elite club and gathered top-level leaders of the crypto industry and the most demanded developers and celebrities. 

Today we will please you with other fantastic news. Meantime, join us in celebration of UMI’s anniversary. 

Lots of love, UMI Team!

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UMI’S 1ST ANNIVERSARY! We’ve done a lot, and there’s still a lot to do

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It seems like it was just a few days ago that a group of crypto enthusiasts and programmers got together to give the universal monetary instrument to each and every person in the world. Years of development, discussion, strenuous work, and finally UMI was displayed to the world on June 1, 2020 — as a universal blockchain platform that enables fast and free transactions, can work with smart contracts and allows people to generate new coins within the wallet via staking. 

UMI would have remained another mediocre cryptocurrency unless the crypto community took an interest in it. Our instrument turned out to be very much in demand. Now, a year later, the UMI community has grown to thousands upon thousands of users, with UMI capitalization well exceeding $400 mln!

UMI creation was a pretty challenging process. We analyzed existing problems in the crypto industry and came up with solutions to lay the foundation for preventing future problems. Thus, we chose the Proof-of-Authority consensus algorithm as the basis for the UMI network, allowing us to ensure high network capacity without considerable costs in terms of resources. Network health is ensured by master nodes distributed across the globe and complying with stringent requirements regarding stability and security. At the same time, we improved the Proof-of-Authority algorithm by adding validator nodes that anyone can launch. It makes the network more decentralized. 

During the first year, it did not always work as smoothly as we’d like it to work. Still, we tried to resolve all problems and inadequacies in the shortest time possible. By optimizing the code all the time, our team of IT developers achieved fantastic results. For instance, at the very beginning, we selected the JSON-RPC protocol that was easy to use, but inefficient in terms of resource consumption. However, we soon switched to integrating a new binary protocol that utilizes communication channel capacity with maximum efficiency and sparingly uses computational power without harming the planet. 

Over the year, there has been no disruption in public network operation, despite technical issues and emergencies. In this connection, we’d like to express particular thanks to our awesome IT department. Our team of developers has no random people. Everyone working with us today is here to change the world for the better, to build something new and valuable for people. Our specialists open their laptops each and every day and turn on their computers wishing to do something significant. 

As mentioned above, while working on UMI, we often have emergencies that knock us off balance. Sometimes it causes emotional and creative burnout, but feeling your support makes us find the strength to do the things we thought impossible yesterday. We’d like to express our deep gratitude for this!

It’s also worth noting that we haven’t fulfilled all our plans during this year. We still have a lot to do, but we’re sure we can make it. With your support — there’s no other way! 

On behalf of the entire UMI Team, including developers, marketers, copywriters, translators, designers and many many other specialists, we’d like to express deep gratitude to all those who believed and continue to believe in us. We’ll make sure to achieve all our goals!

Sincerely yours, UMI Team!

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An interesting fact: Ethereum, along with Bitcoin, is perceived by the community as a real decentralized cryptocurrency. But did you know that the Ethereum developers gave themselves about 70 million ETH at the time the project was created?

Now the number of all ETH is 115 million. That is, the developers received more cryptocurrency than was created by users in 6 years since the launch of the network.

The UMI team took a different path. The coin also had an initial emission of 18 million UMI, BUT we did not take it for ourselves, but distributed it among the community, including by selling coins for bitcoin.

We directed the overwhelming part of the proceeds from the sale of UMI bitcoins to protect the course — to set up a wall for buying cryptocurrency at $ 0.95 worth about 365 BTC (more than $ 20 million), the other part — for the development of the coin.

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We tried to solve the problem of cryptocurrency volatility and put bitcoins in the order book on the SIGEN.pro crypto exchange to support the coin rate.
Now about 365 BTC has been collected in the order book. This “wall” supports the UMI rate, preventing it from dropping below $ 0.95. At the same time, nothing holds back the rate of the coin from growth. 

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The original UMI emissions were fully distributed to the community. This is one of the important signs of true decentralization, when the cryptocurrency is in the hands of users, not developers.

New UMI coins can only be created by cryptocurrency holders by staking according to a pre-programmed smart contract. And third parties are not able to influence this process.

This is real decentralization - power is in the hands of users, the number of which is already more than 300,000 around the world.

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