Jump to content

⤴️-Paid Ad- TGF verify and approve but does NOT endorse the products advertised. 🔥 Advertise here.🔥

  • Prepare yourself for the upcoming financial crisis. Here are 10 things you should do ASAP Read them here!. 👈👈

  • Earn TGF coins and redeem them to cash for posting and referring members to TGF. Start earning TGF coins!. 💰💰

  • Want to work for TopGoldForum? We want to hire an email outreach manager and pay in crypto. Apply for the job here!. 👨‍💻👨‍💻

  • We've just launched a new contest with $200 total prizes. Do you have friends? Invite them on TGF and earn! Join here!. 👈👈

[UMI] Universal Money Instrument - umi.top


Recommended Posts

NFTs on the UMI blockchain: the functionality is already being tested, and the first NFT is ready!

spacer.png

Dear friends, we have awesome news!

We are now successfully developing the functionality to mint and work with NFTs on the UMI blockchain. It is already being tested!

We are testing the functionality on the UMI test network, and we have already minted the first NFT there! You can find the image attached to the post, and the NFT-creation transaction can be viewed on the test blockchain.

The first NFT in the UMI network — https://testnet.umi.top/api/nfts/5b3b07b31f295f515852fd90b35530e16f76a94770b9af44403ad6f631a8dafe

The link to the NFT-creation transaction in the test network — https://blockchain-testnet.umi.top/transaction/5b3b07b31f295f515852fd90b35530e16f76a94770b9af44403ad6f631a8dafe?block=5

This is an important step in the development of our UMI OneApp DeFi platform in accordance with the Manifest. The addition of the functionality to work with NFTs opens up unlimited possibilities to express yourself and create great new UMI-based products, such as the NFT platform and games that support NFT.

We will shortly make the public testing of the NFT functionality available for our community. 

Continuously developing, Your UMI team!

Link to comment
Share on other sites

UMI-based card game: proudly presenting our first GameFi product!

spacer.png

Fellow blockchain enthusiasts, please welcome a truly unique product in our DeFi universe — the UMI Jack card game. It uses the same principle as the world-famous Blackjack, but players are paired not with a dealer but with other players, like in the also-popular Twenty-One.

UMI Jack functions on top of the UMI decentralized blockchain, which enables the following advantages for the players:

Complete transparency and security. All the game operations are transactions in the UMI blockchain. This means that any player can easily check that all the game rules are strictly followed by monitoring the respective blockchain operations thanks to the transparency of UMI.

Fairness. The inherent transparency also lets anyone see which cards any of the players had when the game ends. The algorithm allows these data to be published openly.

High performance. The ultra-high throughput of UMI and complete absence of fees have made it possible to create a genuinely innovative blockchain-based product. Moreover, the UMI OneApp platform itself does not impose any fees as well.

A new way to obtain UMI. Since UMI Jack is based on the UMI blockchain, the UMI coin is organically used as the in-game currency. Play, win, and get your prizes in UMI!

As UMI Jack becomes more and more popular, the demand for UMI will also grow since the beginners wishing to try their luck in it will need to buy the coin.

Make sure to be one of the first to play, challenge your friends, choose your opponents, and start winning to get your UMI prizes! Get to the top of the leaderboard!

UMI Jack (based on the UMI blockchain)https://app.umi.top/gamefi/umi-jack.

P.S. This is just the first release: the development of UMI Jack will continue, so the game will continuously improve and new features will be added. Best of luck!

Link to comment
Share on other sites

spacer.png

UMI Jack game updated

Dear friends, we’ve updated the UMI Jack game — now the gaming process is more pleasant and convenient. The new features include:

- Sound notifications;
- Auto-authorization (you don’t have to log into your gaming account every time);
- The game update timer is reduced to 10 seconds;
- More games are displayed on the screen;
- The game filtration system has been change;
- Other technical points to improve UMI Jack. 

Most importantly, we’ve fixed the bugs that made the game hang and shut down — you can now play with maximum pleasure!

We continue to improve UMI Jack and we’ll make a pleasant announcement very soon.

Play UMI Jack — https://app.umi.top/gamefi/umi-jack.

Have a nice game. Yours, UMI Team!

Link to comment
Share on other sites

New answers to your questions

spacer.png

We greatly respect our community; therefore, we want to answer the questions you are most concerned about right now. We have compiled a list of questions from the chats and, idle talk aside, here are the answers.

1. You used to say that UMI bought from the wall return to the wall again. Why then is the wall shrinking?

To keep the wall from shrinking, we need to sell UMI bought from the wall for bitcoins, and return the received BTC back to the wall. That is, the procedure should be as follows:

- A UMI buy wall is created — and users use it to sell coins;
- The UMI coins bought by the wall holders are sold for BTC at a higher price;
- The received BTC are returned to the UMI buy wall at the wall price. 

This is exactly what we did before when we set up the first buy wall in the first year of UMI development. 

But the wall that exists now is completely different — it’s the second wall which we have nothing to do with. Last summer, during the panic sale, our former partners bought the entire wall from us. That is, they sold their UMI and received all BTC from this wall. Not to push the price down, we did not offer all the UMI coins we bought for sale at a higher price.  

After the situation stabilized, our former partners set up the second UMI buy wall using these bitcoins at on SIGEN.pro where UMI is now sold at 0.00000035 BTC per coin. As far as we know, the price was calculated in such a way that all UMI in circulation could be bought. After that, our former partners closed down and left the market. Even though they did not take away the bitcoins from the wall on SIGEN.pro, they also stopped managing the wall, according to their news about the closure. As far as we know, when selling UMI to the wall, they can easily withdraw these bitcoins from the exchange. It means that the wall is real, but we have nothing to do with it. It shrinks for a simple reason — users sell UMI using the wall and take bitcoins for themselves. 

2. Will the wall keep UMI from falling below 1 ruble?

UMI is an international project that has nothing to do with rubles or any other national currency. In the previous answer, we already mentioned that the UMI buy wall was set up by our former partners so that all UMI coins in circulation could be bought for BTC. And the UMI team has nothing to do with this wall. 

3. Why don’t developers launch a service to exchange fiat money for stablecoins linked to fiat currencies or gold? Stablecoins can be launched on the UMI network. For example, UMIG is a gold-bound stablecoin, UMIT is a dollar-bound asset.

Since these are two separate questions, we will answer each of them. 

We plan to launch a service for exchanging fiat currencies for crypto assets within UMI OneApp. In our Manifest, we told you about U-DEXP2P — a decentralized peer-to-peer platform for exchanging cryptocurrencies and tokens for fiat currencies and vice versa. It will use a smart contract to protect the interests of both the buyer and the seller. 

Read more about this service in our Manifest —https://umi.top/OneApp_en.pdf

As for the stablecoins in the UMI network, we also plan to launch them. But we’re still working on the implementation options. Stablecoins can be different. For example, we can create backed stablecoins (such as USDT or USDC) or algorithmic stablecoins (for example, UST). If we create backed stablecoins, then we need to work out the issue of storing stablecoins backing. For example, to create UMIG, we first need to resolve the issue of purchasing and storing gold. Since we support the idea of full decentralization, it is not so easy to do this. 

There are also options to issue tokens of other stablecoins in the UMI network. For example, USDT or UST. We can create bridges to transfer them between different networks. Thus, in the UMI network, it will be possible to tokenize any crypto asset from other networks, including stablecoins, to then transfer it within the UMI network at instant speed with zero transaction commissions. If necessary, this asset can be transferred back from the UMI network to another network.

In general, the issue of adding stablecoins to the UMI network and UMI OneApp is an interesting one and we’re actively working it out. As UMI OneApp develops, we will definitely develop this area. Follow our social media accounts to learn news firsthand.

4. After UMI OneApp is released, will the platform somehow develop to contribute to the growth of the UMI price?

Of course! We are making every effort to further develop the UMI OneApp DeFi platform. After the release of the first beta version, we have already presented:

- End-to-end authorization for UMI Wallet and UMI OneApp for more convenient and secure interaction with the DeFi ecosystem;
- UMI Wallet browser wallet in Google Chrome for quick connection to UMI OneApp via browser;
- The UMI Jack card game based on the UMI blockchain. 

We are also nearing the finish line for the launch of NFT in the UMI network. 

All this attracts users to the DeFi platform and creates demand for UMI. In the future, there will be a lot more awesome DeFi products; in some, UMI purchase, storage or burning will be mandatory. This may have a positive impact on UMI pricing and shortage. We believe that our qualitative development will allow us to achieve a positive change in the value of our coin. 

We would also like to note that after new UMI OneApp updates are released and the DeFi platform is improved, we plan to launch a large-scale advertising campaign to attract a larger audience of crypto users from around the world. 

So the large-scale development of UMI and UMI OneApp is still ahead of us!

5. Will UMI be listed on well-known and large exchanges if UMI OneApp has a positive impact on the coin?

Listing on new exchanges, including large ones, has been planned and included in our strategic development concept. The development of UMI OneApp will help us because the coin can become more well-known and popular.

At the same time, we are now more focused on the development of various DeFi areas (including DEX) because they ensure true decentralization and independence from various centralized structures. We can see how the entire crypto world is moving in the same direction, and we fully support it. 

6. Will there be a possibility to shorten addresses in the UMI network in the future? For example, could there be something like a umi-nickname instead of a long and hard-to-remember address?

Yes. We have planned to develop the alias functionality, as we indicated in the Manifest. This solution will be presented in our DeFi universe within U-SideChain — the second layer on top of the main UMI blockchain (sidechain) for the integration of aliases, comments on transactions and other features. More specifically, alias is a short, easy-to-remember unique name that can be specified instead of a long and complex public address. For example, you can use your e-mail as an alias and actually receive cryptocurrency transfers “by email”.

That’s all for today. If you have some urgent question and you haven’t received an answer to it, don’t worry. We monitor what happens in our community and will definitely cover the most important issues that concern our audience.

Since comments in our Telegram channel are now open, as in many other social networks, you can safely ask new questions right there. We will select the most frequent, urgent and interesting questions to answer them in one of our future articles. 

Love, UMI Team!

Link to comment
Share on other sites

What challenges do UMI developers face?

spacer.png

“If a user has to click more than one button to start working with a product, they won’t want to do it”

Dear friends, we have always tried and continue to try to create products that will be the most high-tech, easy-to-understand, secure and user-friendly for any user. In today’s article, we want to share with you the problems that we, UMI developers, face, as well as solutions we find. After all, you only see the final product — an app that is convenient to interact with on a smartphone or computer. However, “under the hood”, this app has a complex infrastructure with a range of solutions. 

Today, we will tell you about the path the ready-to-use program code has to go before our users can start using it. It seems obvious that a nice and operating code is not enough to create a convenient product. We need to assemble and package the program in such a way that it is convenient for the user to work with. 

A variety of operating systems and architectural platforms

There are a huge number of operating systems based on various architectural platforms, but it does not make any sense to try and create solutions for all of them at once. It would be more logical to target the most popular systems when creating an app. 

Historically, three operating systems have become the most popular: Windows, Linux and macOS. However, they can be run on different hardware which is why a new variable appears — the processor architecture. 

Previously, the mostly used processors included i386 (IA-32, 32-bit) and AMD64 (x86-64, 64-bit). However, as various mobile devices became more popular, active development of the ARM architecture platforms began, which also took the path of improvement from 32-bit to 64-bit version. 

For the user, there’s just one difference between the 32-bit and 64-bit versions — the latter allows for the use of more than 4 GB of RAM with no particular difficulties. Since we knew that the UMI network could process a huge amount of transactions, we realized that network nodes would consume more memory. Accordingly, running a node with a small amount of addressable memory makes no sense in the long term. 

Based on the above, we decided to support 64-bit architectures only. In practice, this means supporting four operating systems and corresponding processor architectures:

- Windows OS and AMD64 processor architecture;
- Linux OS and ARM64 processor architecture;
- Linux OS and AMD64;
- Two options for Apple devices that can be combined into one: Darwin operating system and ARM64 processor architecture (for M1 processors) or AMD64 processor architecture (for Intel processors).

We have managed to get rid of external dependencies which streamlines the assembly of the software core — the Go (golang) compiler is all we need. 

However, the difficulties are still there because we need to pack the app into a package. Let’s consider a solution to this problem using Linux OS as an example. 

There are a huge number of Linux distribution kits. They mainly differ by the set of libraries included in the distribution kit. This is where difficulties arise. For example, if you build an app with dependencies for CentOS 5, it may not work on a more recent release due to the different version of the libraries the app depends on. 

Therefore, we are building the UMI app with no dynamic dependencies, that is, it does not depend on the environment it is launched in, at all. 

It may seem it has solved our problem — we just need to download or compile a binary UMI file from the source files and run it. But it’s actually a little more complicated than that. In fact, our entire architecture was initially built around the Kubernetes open source software. Therefore, we used Docker as a packaging tool. We assembled Docker images for the AMD64 platform, and it all worked just fine. Docker was also good in a local environment. 

However, a different Docker version for the new Apple M1 platform has recently been released, so we had to assemble two versions of the package — for AMD64 and ARM64. At first, it went smoothly thanks to buildx, an experimental Docker functionality. But following transition to the binary blockchain, we had to abandon Kubernetes because we had new requirements for the speed of the disk subsystem. Since we use Amazon Linux 2 based on the RHEL distribution kit to run virtual machines in the Amazon cloud, we decided to try using Advanced Packaging Tool (APT), a regular package manager, and RPM. 

Initially, we had no problems with assembling RPM packages using Docker for the AMD64 platform. Later, while optimizing the server architecture cost, we tried using AWS instances on the ARM64 platform. To do this, we had to assemble RPM packages for the ARM64 architecture. Buildx handled the task perfectly well. 

At around the same time, the UMI community asked us to add support for the Yum package manager used in Debian and Ubuntu. We delivered. As a result, we now have our own package repository — https://pkg.umi.top/.

So, while preparing each release, we assembled three versions of Linux packages — each package designed for two architectures. In total, it means six stages of development, if we leave out the pipelines for updates and repositories synchronization. 

Later we ran into some issues: 

- After each update of macOS (used by our developers as the main OS), the programs we used worked worse and worse. 
- After another Android Studio update, the network stopped working in the Android emulator;
- We had some problems with network operation in VirtualBox which we actively used to test network interaction. 

Working in such conditions became more and more difficult — we had to spend more and more time on repairing the tools rather than on the work itself. When we say ‘tools’, we mean compilers (packagers) we use to prepare products for release.

We decided to try the option with a test environment based on Google Cloud and created a new account to do this. In practice, however, it turned out that this has no major advantages, so we abandoned this idea. 

Step by step, we came to the option with an ESXi hypervisor running on a local computer. We liked this option the most, so we just settled on it. But then, we still had the problem of assembling packages for different architectures. The most logical option would be to run separate servers to assemble packages for the target architecture. This would mean maximum efficiency with a relatively small increase in infrastructure costs. 

But the recent instability in the world has forced us to reconsider the idea of using “foreign” servers for critical services. Therefore, we started looking for a solution that would allow us to solve the problems with assembling all the necessary packages and updating repositories within one local server. This solution would have to be easily reproducible in the event we need to move all the components to another environment. 

As a result, GoReleaser became the solution of our choice. The first impression was quite good. We are now gradually transferring assembly lines to this tool. As we work, we carefully review and test everything; we also have to tackle with multiple peculiar things. It takes a lot of time, but so far this approach seems the most rewarding. 

Dear friends, as you can see, the development of complex blockchain products is a time-consuming process most users don’t even notice. We are constantly facing new challenges and sometimes we spend a lot of resources and creative energy on solving the emerging problems. However, it’s definitely worth it as we want to create the best-of-class product that would be accessible to as many users as possible.

In the future, we will continue to be in close touch with you and publish technical articles to share our experience. We hope it’s been interesting. 

Love, UMI Team!

Link to comment
Share on other sites

On 4/9/2022 at 8:48 AM, Chad_Anderson said:

I don't know about universal money instruments, what I know is cloud mining with Minto. Not financial advice... do your own research

This discussion thread has nothing to do with cloud mining or any other project, for that matter. It is dedicated to the UMI cryptocurrency.  

UMI is a decentralized cryptocurrency with an open source code, that allows instant, secure and commission-free transactions to any location in the world at the speed of 65 535 tx/s. 

We also developed and launched an innovative DeFi-platform UMI OneApp, that is based on UMI. This platform provides access to a variety of top-tier DeFi solutions from different blockchains and basically unifies the entire crypto market in one place. 
 

Link to comment
Share on other sites

On 4/10/2022 at 9:04 PM, jhonmason said:

You can buy UMI coins via the SIGEN.pro trading platform, which includes an exchange, an automatic exchanger and a p2p platform.

Currently, SIGEN.pro supports a crypto exchange and a P2P-platform, but UMI is also listed on other exchanges, including Bibox, Bitglobal & BTC-Alpha. 

It’s worth mentioning that we are currently working on developing our own decentralized exchange (U-DEX), where users can buy and sell UMI directly from each other. U-DEX will be available on the DeFi-platform UMI OneApp. 

In the nearest future we will continue working on listing UMI on various crypto exchanges, including major popular platforms on the market.  
 

Link to comment
Share on other sites

UMI wall: where did it go and what happens next?

spacer.png

Dear friends, the “UMI wall” on SIGEN.pro disappeared this morning, and we’re now receiving questions regarding this. We have no idea where the wall went, what happened and why because we had no control over it (which we mentioned more than once). 

The UMI price is currently free floating and the actual demand and supply will demonstrate what the coin is worth now. We’re sure that panic mongers and haters will sell the coin for nothing while true UMI believers will, on the contrary, buy as many coins as possible. We do not know what will happen to the coin price next. But we do know that nothing can stop us on our path to reaching our goals. 

Our team will continue developing UMI OneApp. We have a great potential in the development of a DeFi ecosystem, decentralized NFT’s and the GameFi sector. We will soon offer you new games, tournaments and a lot more. Blockchain games + NFT = future, especially considering that it’s a super-fast blockchain with zero commissions. 

In near future, you can expect a series of reports on NFT and new interesting products. If you believe in us — stay with us. We believe that the demand for UMI will grow in the future thanks to the products we develop, and it will be based on the genuine interest rather than a speculative wall. 

Love, UMI Team!

Link to comment
Share on other sites

spacer.png

GLZ support added to UMI Jack

Dear friends, we’re happy to announce that we have received an excellent idea — multiple times — through the new form for ideas, issues and suggestions.

You can now use GLZ to play UMI Jack!

You asked — and we did it! Log into UMI Jack right now, choose a crypto asset of your choice for the game and win.

Play UMI Jack — https://app.umi.top/gamefi/umi-jack

We continue to grow.
Always yours, UMI Team!

Link to comment
Share on other sites

New UMI transaction type. Everything you need for decentralized exchange

spacer.png

The realm of DeFi (decentralized finance) and DEXs (decentralized exchanges) as its significant part have existed for quite a long time; however, practically all the popular platforms are now using the same set of tools. We decided to follow a different route and develop our unique decentralized exchange solution: a new mempool for atomic exchanges within the UMI blockchain and a new transaction type called “exchange”.

The “exchange” transaction type allows for creation of transactions to directly exchange various types of crypto assets directly within the UMI blockchain. For example, your can exchange UMI for GLZ, or GLZ for uBTC (a synthetic bitcoin that will be added into the blockchain later). Essentially, within the UMI network, you’ll be able to work with any tokens, whatever thei might be in the future. 

1. First, the maker specifies the wallet address and the number of coins to send, as well as the address and the amount of any other crypto assets they would like to receive in exchange. And then clicks on “Publish transaction in mempool”.

2. The taker then chooses the transaction they need from the mempool, adds their wallets’ addresses for the respective coins/tokens, signs the transaction with their private key (using their mnemonic phrase), and then sends it into the network.

When the transaction is successfully confirmed, it is written into the additional storage, and a master node creates two surrogate transactions in the main blockchain: exchangeWitness.

In other words, an “exchange” transaction is similar to a limit order, with the UMI mempool acting as the order book. Consequently, the UMI network itself becomes a full-fledged decentralized exchange.

We would like to note here that to create the new mempool, we had to create a new protocol to synchronize it both ways. This was needed because atomic swaps, among other things, will also become the foundation of the future integration of farming and liquidity pools.

We have also provided for decentralized NFT trade. We’ll get into the details on that in our future posts.

Link to comment
Share on other sites

UMI-based SocialFi — opportunity to get cryptocurrency in exchange for content

spacer.png

SocialFi is one of the most innovative sectors combining the best practices of the crypto market and the social media. 

Decentralized social networks based on the blockchain have become particularly popular after numerous scandals with Meta (formerly Facebook). Over the years, this social network has been accused of selling user data to marketing companies, spreading fakes and leakage of data on 90 million users. 

Today, the user base of the social media includes about 4.55 billion people (!), with Meta alone accounting for 2.5–2.9 billion active users per month, according to various estimates. All these people might potentially fall victim to the issues described above. 

At the same time, these risks could be mitigated via blockchain-based social media which also offer multiple new opportunities and advantages, including:

- Protection of user data stored in the blockchain;

- No centralized content censorship;

- New opportunities for content monetization through a donation system based on cryptocurrencies;

- NFT integration which opens up new opportunities for both users and artists.

Moreover, it is quite likely that SocialFi will become one of the key development vectors for the mass introduction of crypto technologies into everyday life, and UMI could become an important player in this market. See for yourselves:

UMI offers totally free and instant transactions allowing you to implement various blockchain-based projects.

UMI can execute smart contracts of any complexity level allowing you to launch various SocialFi products.

The UMI blockchain is decentralized and secure — users of the future social networks do not need to worry about the safety and privacy of their confidential data.

Thus, SocialFi is one of the many areas that we intend to develop within UMI OneApp. Our plans for the future include a few interesting products:

- U-Messenger — a simple, secure and fast cryptomessenger based on the UMI blockchain. Users will be able to use it to exchange encrypted messages, as well as make money transfers. 

- U-Media — a decentralized platform for combining media resources of varying formats and topics.

- U-Donation — a system for collecting donations for any needs: for yourself or the community.

- U-SocialCapital — a reputation system allowing you to access various services and participate in voting when making important decisions.

Thanks to the high-tech nature and decentralization of the UMI blockchain, we can create a unique platform for communication, content and information exchange, video streaming, and socialization. Integration with the UMI donation system will provide additional incentives for content creators to join the innovative environment and grow. 

We continue to work on improving UMI OneApp in accordance with the Manifest — https://umi.top/OneApp_en.pdf.

Stay with us. Yours, UMI Team!

Link to comment
Share on other sites

UMI Jack - play and earn

We have launched the first game on the UMI blockchain in the Play-to-Earn format. Watch our new video to learn about all the nuances of the new product. This episode is also dedicated to games on the Ethereum blockchain, which can also be used as one of the ways to increase crypto assets!

https://youtu.be/IoMaiO9uRyo

Link to comment
Share on other sites

Public call to the Administration of CoinMarketCap

spacer.png

With this public call, the UMI blockchain development team once again requests CoinMarketCap to take notice of the unjustified alert on the UMI coin monitor page at https://coinmarketcap.com/currencies/umi/markets/ dated November 2021, which reads, “The Central Bank of the Russian Federation has issued a warning that the ROY Club (UMI) has signs of a ponzi scheme.” Here’s what it looks like:

spacer.png

It is unjustified because the ROY Club and UMI projects are equated.

UMI is not a ROY Club project, and vice versa — ROY Club is not a UMI project. These projects have different development teams, different beneficiaries and stakeholders.

The ROY Club used the UMI cryptocurrency as an asset along with, for example, the PRIZM coin (https://coinmarketcap.com/currencies/prizm/). Nevertheless, PRIZM does not have the same alert as UMI, with reference to the Russian regulator. Meanwhile, the official message of the regulator only references UMI and PRIZM in domain names “umi-club.ru” and “prizm-club.ru” which have never been owned or used by UMI.

Besides, the message of the regulator (https://cbr.ru/inside/warning-list/detail/?id=6823) clearly defined the “name, service mark, commercial designation and other means of individualization of a person” — “ROY Club” and “Roy Club”. The name “UMI” is not included in the warning issued by the Central Bank of the Russian Federation. This is how the warning of the Central Bank of the Russian Federation looks like:

spacer.png

The UMI team has repeatedly appealed to the CoinMarketCap Administration with legal requests, trying to resolve the current situation or at least get a clear and reasonable response. After all, it is only logical to expect an adequate response to official requests from “the world’s most popular website for tracking prices for crypto assets in the context of the rapid growth of the cryptocurrency industry” (as CoinMarketCap positions itself).

First, the above selectiveness of the CoinMarketCap aggregator in relation to the UMI coin is hard to comprehend since the aggregator must be impartial and avoid giving preferences to anyone, as CoinMarketCap declares on its website (for example, https://coinmarketcap.com/about/). It is obvious that an impartial and independent aggregator should not unreasonably post false information about any assets. In relation to the UMI coin, however, we can see that CoinMarketCap behaves contrary to what it publicly declares.

Second, in the light of the violation of all conceivable norms of international law by the Russian Federation and its unleashing of an aggressive war – an attack on the neighboring Ukraine – the Central Bank of the Russian Federation, as a financial institution that fully supports the criminal foreign policy of the Russian Federation, does not look (and has never looked, in the light of the oppression of the rights and freedoms within the Russian Federation) as a respected and trustworthy regulator. We believe that in this light, CoinMarketCap is not an impartial aggregator and acts under pressure from Binance Capital Mgmt and the Central Bank of the Russian Federation – this unfair abuse of centralization in the cryptocurrency sector does not only fail to strengthen the vision of promoting the idea of crypto revolution and ensuring transparency of the crypto industry declared by CoinMarketCap, but also discredits it.

Thirdly, the current collapse of the crypto market, including the fall of Terra (LUNA) by more than 99.9% (more than 1,000 times) in just a couple of days (more than UMI has ever seen) and the collapse of the UST stablecoin, which dropped below $0.17 at one point, vividly demonstrates the price vulnerability of the entire crypto market. Unfortunately, absolutely any asset can lose in value, and critically so — not only UMI. However, LUNA, UST and other collapsed assets do not have such a mark on Coinmarketcap, while we do. How is this fair? Quite unfair, at the very least.

We, the UMI team, have done everything in our power to reach the CoinMarketCap Administration and are extremely saddened by the current situation. We believe that we have the right to draw the attention of the general public to this issue. We hope that this way we will be able to understand the real position of CoinMarketCap, to prevent unjustified actions on the part of popular and trusted aggregators of crypto industry data, which could potentially be directed to any of the blockchain projects in the future.

Link to article Crypto Daily: 
https://cryptodaily.co.uk/2022/05/umi-team-accused-coinmarketcap-of-double-standard-policy
Link to article Cryptopolitan: 
https://www.cryptopolitan.com/umi-vs-coinmarketcap-conflict/

#SAVEUMI

  • Like 1
Link to comment
Share on other sites

We Stand with UMI ! UMI is a true platform, a trusted platform, one of the fastest blockchain and not a Scam platform as reported by irresponsible individuals out there. We ask for justice for UMI, please remove warning sign about UMI. #SAVEUMI

Link to comment
Share on other sites

What is happening with CoinMarket towards UMI is not fair at all, it deserves to have its place, everyone knows that UMI is an excellent platform, very functional and effective, there is no need to remind it. #SAVEUMI

  • Like 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

⤴️-Paid Ad- TGF verify and approve but does NOT endorse the products advertised. 🔥 Advertise here.🔥

×
×
  • Create New...