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[UMI] Universal Money Instrument - umi.top

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How, Where and When to Vote for Stopping Staking
Dear friends, soon you will have to take a historic decision on the future of the UMI network: to stop staking or not. We are ready to lift the curtain of secrecy and answer all the questions. 
On Monday, Оctober 25 at 09:00 UTC (12:00 MSK) decentralized blockchain-based voting is launched on the official website:
- At the start of voting, we will make snapshots of balances – we will record the number of UMI on all your addresses, including structural ones.
- When you vote "FOR" or "AGAINST", the system will record your coins into the relevant block. The more coins you have, the more interested you are in developing UMI, which means the more valuable your vote is.
- Voting is finished at 09:00 UTC (12:00 MSK). The solution that receives the most votes will win.
Your coins will NOT be withdrawn — voting is free!
The snapshot-based voting system protects against fraud with coin tossing and juke. Blockchain will make the voting process completely transparent: anyone will be able to view balance snapshots, current results, and now any address voted. Thus, you will be able to check that votes are real, not faked, and make sure that everything is fair and square.
1. Just enter your UMI address.
2. Sign a special message via the UMI wallet or SIGEN.pro. 
3. And then just click "FOR" or "AGAINST" to cast your vote.
1. Stop staking when 1 billion UMI is reached. 
2. Launch token-based staking as an alternative to UMI staking.  
3. Transform UMI into a blockchain platform for DeFi rather than leave it a cryptocurrency intended primarily for staking. 
You can find more details in the Manifest:
Manifest’s full version (recommended) — https://umi.top/OneApp_en.pdf
OnePager (brief version)  — https://umi.top/OneApp_OnePager_en.pdf
UMI is a decentralized cryptocurrency, so all global solutions will only be implemented after our community gives its approval. Our community is the most valuable thing we have. And we must take this historic decision together. We will choose the path you will vote for! Remember you are the best!
Love, UMI Team!

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Decentralized voting has started. It's time to make a decision!
Dear friends, the decentralized voting for stopping staking and UMI's entering the DeFi market has been launched. The voting process is completely transparent: thanks to blockchain, balance snapshots, current results, and information on how an address voted are publicly available.  Thus, you will be able to check that votes are real, not faked, and make sure that everything is fair and square.
Voting lasts until 12:00 MSK (09:00 UTC) November 1, 2021 
If the majority votes "yes", we will be able to create UMI OneApp — a whole universe of blockchain solutions which will combine all types of income on the crypto market. You will also have an alternative to UMI staking in the form of token staking. As another option, you can vote to leave things as they are. 
It's up to you to decide. Don't forget to vote. Now the future of UMI is only in your hands! 
- VOTE, VIEW TERMS AND SEE RESULTS: https://umi.top/vote
- Detailed voting statistics: https://umi.top/votes
P.S. Short FAQ: 
1. How does decentralized voting work?  — https://t.me/umi_news_eng/417
2️. What are we voting for? 
Manifest’s full version (recommended): https://umi.top/OneApp_en.pdf
Onepager (brief version): https://umi.top/OneApp_OnePager_en.pdf

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UMI OneApp: U-Wallet multi-currency crypto wallet — what on earth is this?

Dear friends, we're right in the middle of decentralized voting for or against stopping staking and launching UMI OneApp — an entire ecosystem of DeFi products in a single location. From this day on, we will briefly review individual products of the ecosystem every day. We'll start with the basics — U-Wallet crypto wallet.

U-Wallet will have a range of key features, including:

Support for all popular blockchains: Bitcoin, Ethereum, Binance Smart Chain, Solana, Cardano, TRON,  Free TON, Minter, Polkadot, EOS and UMI, of course. All crypto assets based on the blockchains above, including cryptocurrences and all tokens, will be available in a single location: U-Wallet.  

You will be able to access all assets using a single mnemonic phrase. To do this, we will ensure U-Wallet supports all up to date crypto industry standards. It means your mnemonic phrase will grant you access to the wallet of each cryptocurrency and token present in UMI OneApp. You won't have to create a bunch of phrases and worry whether each one is secure. 

U-Wallet is a non-custodial wallet. It means it doesn't store users' private keys. It ensures security as your mnemonic phrase will only be stored by you and no one else will have access to it. 

Most importantly, you will be able to use U-Wallet to interact with UMI OneApp directly — to add assets to staking, farming, lending, to trade on decentralized exchanges, to dispose of NFT and many other things.

It's all in one place — secure and convenient. It's an ideal solution for anyone. 
If you like it vote YES — https://umi.top/vote

Will come back tomorrow to tell you more about the Profit Center in UMI OneApp.

Yours always, UMI Team!

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Voting has ended! UMI community has opted for stopping staking and entering the DeFi market


Dear friends, congratulations! Our community has made their choice. 

We’re stopping UMI staking at 1 billion coins, going to the Decentralized Finance (DeFi) market and launching UMI OneApp development! 

22 725 addresses with a total balance of 140 101 798 UMI have voted YES.

1 990 addresses with a total balance of 9 889 381 UMI have voted NO.

Both in terms of the number of addresses and the amount of UMI coins — the bias towards stopping staking is obvious. Each of you was free to make a choice, and most of you have chosen the path of further technological development. 📈

Voting results — https://umi.top/vote.

What happens next?

Right now, we’re starting to update UMI website to align it with the new mission and new ideas. 

Most importantly, we’re launching active development of UMI OneApp. The very first DeFi products based on UMI will include:

- U-Wallet multi-currency wallet;
- First token based on the UMI blockchain;
- U-Swap decentralized exchanges as part of U-DEX.

Then, we’ll go on creating new UMI OneApp products. Thank you for each of your votes. We’re confident that an awesome future is waiting for us out there. 

Always with love, UMI Team!

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Powerful video about UMI OneApp and its entry to the DeFi market

Dear friends, you have voted for stopping UMI staking and entering the DeFi market. We have accepted your decision and have already started developing UMI OneApp — a common ecosystem where all DeFi products and all types of earnings on the crypto market will be represented in a single place.

To celebrate this, we have prepared an awesome video: https://youtu.be/cVuijYGJAaY

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Thank you for your support!


Dear friends, today we just want to thank you for your support. For reading the Manifest, accepting our ideas and voting for entering the DeFi market. As we have repeatedly said, it is you who are our main value and achievement, something we have managed to achieve in a year and a half of development. 

We understand that it didn’t turn out as perfectly as we wanted. In the first year, the UMI price grew, the coin developed, and members of the community had an extremely positive attitude. However, new emissions changed everything, and the UMI price began to fall. Some of you bought UMI at a higher price than you can sell it now, and you are worried about this. Believe us, we are also worried. We also feel bad about your assets (ours, too) growing cheaper and cheaper.

But we are not resting. We have proposed a solution to the problem, and you have supported it. Right now, we have actively started developing the UMI OneApp DeFi platform which will open up the possibility of safe, convenient and profitable use of all DeFi ecosystem products to everyone. 

All types of income existing on the crypto market and the entire decentralized finance world will be available to you in one place. UMI will be UMI OneApp’s native coin, thanks to which its value should grow. Especially so, if we take into account the stop of staking and the introduction of the burning mechanism which will soon begin to operate and will lead to a shortage of coins on the market. 

Thanks again for your support. It inspires us to continue working. It is only thanks to you that we continue to develop and we are sure that in the near future we will reach new heights together.

Always with love, your UMI team!

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UMI listed on Bithumb Global!
Dear friends, we're here with very hot news.
The top crypto platform Bithumb Global is listing the UMI cryptocurrency today!
- The announcement was made at 07:00 UTC (10:00 Moscow time) — https://support.bithumb.pro/hc/en-us/articles/4409254511385-UMI-UMI-Listing-Nov-10-2021
- At 08:00 UTC (11:00 Moscow time), UMI deposit capability became available: https://global.bithumb.pro/asset/deposit/spot?c=UMI .  
- Trading starts today at 13:00 UTC (16:00 Moscow time)! 
Bithumb Global (Bitglobal) is an international trading platform created by the popular top exchange Bithumb. Bithumb itself is on the 10th line in the CoinMarketCap rating, and BitGlobal is in TOP 50.
And most importantly, this is just the beginning. In the near future, we will continue to work on listing UMI on the world's other top crypto platforms.
Link to Bithumb Global: https://www.bitglobal.com
We continue to grow.
Always yours, UMI Team!

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First UMI OneApp release — coming in December!


Dear friends, immediately after the voting ended, we set down to actively develop UMI OneApp. Over a short period of time, we’ve done a huge amount of work to develop a multitude of products that will be available to the users of our DeFi-platform. We’re happy to report that the first release of the ecosystem will be available in about a month — in December.

UMI OneApp beta version will include the following products:

U-Wallet multi-currency wallet. At the first stage, it will support the UMI, Ethereum, and Binance Smart Chain blockchains. This means that all UMI OneApp users will be able to work with any assets — both coins and tokens — from the above listed blockchains. The support for other networks will be implemented later.

U-DEXdecentralized exchange. In the beta version users will be able to make a quick exchange of their assets from the Ethereum and Binance Smart Chain networks. It will also allow users to provide liquidity and farming (will work via PancakeSwap and Uniswap decentralized exchanges).

U-Aggregate is the first beta version of the aggregator of decentralized exchanges which will have only the routing functionality. The aggregator will offer the user the most profitable exchange path, displaying diagrams with all pairs only on one exchange — U-DEX.

U-Staking is a page for staking cryptocurrencies and tokens. At the first stage, only GLIZE staking will be available. Staking of other crypto assets will be added later.

U-Gamefi is a page that will show various “Play and Earn” games based on the Ethereum and Binance Smart Chain blockchains.

U-ProfitCenter is a page where users can review all available ways of earning money on UMI OneApp.

U-Dashboard is a personal smart control panel where the user can view all necessary information regarding their assets.

U-DAO is the first version of a decentralized autonomous organization where UMI holders will have the opportunity to vote for integration of certain changes into the protocol.

U-Burn beta version will display statistics on UMI burning and have an interface for burning coins.

U-Data is an analytical dashboard in the form of dashboards and graphs for tracking general activity in the UMI OneApp ecosystem. It will also include a blockchain explorer.

U-Interface is a service for downloading and installing UMI nodes.

U-API will provide a lot of options for interacting with UMI OneApp via API.

Please keep in mind that in December only the first beta version will be released, that is, some features which you read about in UMI OneApp Manifest may not be complete yet. Nevertheless, even at this stage, it will have a wide range of options: staking, farming, providing liquidity, profitable exchange at DEX, asset management via a multi-currency wallet, and a lot more. And we will not stop there.

This will be a long journey. We must develop and integrate all the solutions described in the Manifest  — https://umi.top/OneApp_en.pdf. Our ultimate goal is a fully developed app.

Thank you again for supporting us in the voting.

Lots of love, UMI Team!

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GameFi has lately achieved a real breakthrough in the crypto industry. In simple terms, GameFi is blockchain-based games. Their distinct advantage is the opportunity to earn real digital assets during gameplay.
Alas, GameFi users have to deal with problems typical of existing blockchains: low capacity and high fees.
The UMI blockchain is able to solve both these problems!
UMI's high-tech nature will allow blockchain games to rise to a new level. Just imagine a virtual world in which:
- All transactions are free and instant;
- All in-game items are in the form of tokens that you can buy or sell in the game and on exchanges;
- UMI coins or network tokens are used as in-game currency;
- UMI's high scalability rules out the network overload.
It's clear that existing blockchain games need to be developed, and the UMI OneApp ecosystem can make a significant contribution to their development.

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UMI-based NFT to take the sector to a new level


The market of non-fungible tokens (NFT) has seen a great boom this year. Digital artists sell their works for hundreds of thousands and millions of dollars; video game developers actively integrate NFT tokens into their projects, and sports clubs sell their players’ cards in the format of NFTs.

The advantage of NFTs is that each token is indivisible and unique and its owner has the exclusive right to it. In this way, NFTs can resolve a lot of problems related to copyrights — to track ownership of an asset, you just need to view the history of transactions with this asset on the blockchain.  

NFTs are actively used and developed in such areas as:

- Digital art
- Music industry
- Digital collectibles
- Sports clubs’ fan tokens
- Blockchain games, or GameFi
- Ticketing business

And this is just the beginning — NFTs can be used in many other areas which involve identity verification and documents or items authentication: law, insurance, real estate and antiques, certification and licensing.

For this reason, UMI OneApp users will have access to U-NFTCenter — a universal NFT marketplace where they will be able to create, store, transfer and sell NFT tokens. Zero-free transactions in UMI blockchain will ensure users to make transactions on the most favorable terms.

On top of it, U-NFTCenter will fully support all popular blockchains. In other words, users will be able to exchange any tokens based on Ethereum, Binance Smart Chain, Solana and other blockchains.

UMI OneApp is all NFTs in a single place!

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Dear friends, we’re in the final stage of preparation to the large-scale UMI network upgrade. Right now, we’re actively testing the new node, and the upgrade of the main network is planned to happen on November 29 at 07:00 UTC.

The new node supports issue of tokens in the UMI network and coin burn!

After it’s launched, it will be technically possible to issue tokens in the UMI blockchain. GLIZE will be the first token.

The UMI network will also have a new type of transactions — burn transactions. These will be transactions that will make the much-awaited UMI burn feature! 

Important: all users will need to update the UMI Wallet mobile app after the new node is released. The new app will be released along with the node — on November 29 at 07:00 UTC. The old mobile wallet version will not be supported!

You will also need to update the validator node if you installed it.

We will publish all links after the successful launch of the new node.

Yours, UMI Team!

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Friends, the burning mechanism on the UMI network is working successfully.

Today at 12:55 UTC, 175 048 642 UMI were burned using the new transaction type, Burn.

Here is the transaction itself —

Another 150 000 000 UMI were burned through the conversion of coins into GLIZE tokens.

Transaction — https://blockchain.umi.top/transaction/48f47f9996cd9c86565d8ad5ab0c06467cf1565c1b5d68c93dd1ee64c039bb4f.

Current UMI emission is 677 773 263 and will continue to decrease.

UMI burning + increased coin demand = deficit.

Always with love, your UMI team!

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What is DeFi and why is it so popular? New video about UMI OneApp

In this video, we’re answering important questions. 

What is decentralized finance, or DeFi? Why is it an important tool for the crypto market? What are the unique opportunities opening up for DeFi users? Why are we developing the UMI OneApp ecosystem and how is it related to DeFi capabilities? 

We will also review the DeFi infrastructure, DEX capabilities and U-SWAP functionality.


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New questions answered

Friends, we continue to answer the most popular questions from UMI crypto users.

Let’s get down to answering questions right away. Here we go! 

1. When will the UMI OneApp platform be launched?

Immediately after the vote for stopping UMI staking and entering the DeFi market was over, we started developing UMI OneApp — a DeFi platform that will include a lot of decentralized finance (DeFi) solutions.

The first version of the DeFi ecosystem will be available in December. The beta version will include such DeFi solutions as:

U-Wallet multi-currency wallet. At the first stage, it will support assets from the UMI, Ethereum, and Binance Smart Chain blockchains. The support for other networks will be implemented later.

U-DEX decentralized exchange. Users will be able to make a quick exchange of their assets from the Ethereum and Binance Smart Chain networks. It will also allow users to provide liquidity to pools and farm supported assets.

U-Staking is a cryptocurrency and token staking service. At the first stage, only GLIZE staking will be available. Staking of other crypto assets will be added later.

U-GameFi is a page that will show a variety of “Play and Earn” games based on the Ethereum and Binance Smart Chain blockchains.

U-ProfitCenter is a page where users can review all available ways of making a profit on UMI OneApp.

U-Burn beta version will display statistics on UMI burning and have an interface for burning coins.

We have already published a full list of products that will be available in the first beta version of UMI OneApp: https://blog.umi.top/en/first-umi-oneapp-release-coming-in-december/

We also plan to add the other services that we announced before and expand the functionality of already existing solutions. This will be a long journey. We must develop and integrate all the solutions described in the Manifest.

UMI OneApp Manifest: https://umi.top/OneApp_en.pdf

2. When will the crypto cards with UMI support be launched?

Crypto cards with UMI support are still under development. Our long-term partner ISP Club is working on their launch.

The latest version of the cards was successfully released in October. In the current version, to make a payment, users have to convert UMI to fiat currency manually by using a special app. The future version will have automated conversion.

Our partners from the ISP Club are responsible for distributing the cards with UMI support and keeping users up to date with the latest information.

The latest news about crypto cards: https://t.me/umi_news_eng/409

3. Why did you stop staking?

UMI staking was stopped because the community decided to stop it. We took a decentralized vote on stopping staking. The overwhelming majority of users decided to stop staking and switch to the decentralized finance (DeFi) market.

We couldn’t enter the DeFi market without stopping UMI staking. The truth is that the high staking rate caused the generation of an excess number of coins and, as a result, a steady drop in the UMI price. In that situation, UMI wouldn’t attract new participants in the crypto industry, even with a wide range of products presented in UMI OneApp.

Now, after stopping staking and developing DeFi protocols, we can market UMI as a top blockchain platform for a variety of DeFi products. On top of it, by having stopped staking and integrated the burning mechanism, we turned UMI into a deflationary asset. It can have a positive impact on the coin’s shortage in the long run.

4. Why did you not foresee that high emission can cause a price drop?

Initially, the high staking rate helped UMI grow and draw an audience. It was one of our main advantages which helped the cryptocurrency stand out among other cryptocurrencies.  UMI has always had and still has other strong points such as super-high blockchain throughput and no fee on the network.

Looking back at the past, you could see that the growth of the UMI price was not connected to the high staking rate. From January to June 2021, the cryptocurrency price increased from $1 to $3.

But then we generated too many coins. The market situation changed, which led to the limitation of development resources. As the coin price began to fall, we offered the community a solution — stop staking and entering the DeFi market to popularize the cryptocurrency. Users made their choice.

5. What are your plans regarding listing on major exchanges? When will UMI be listed on Binance?

We plan to have UMI listed on major exchanges, including Binance. In parallel with UMI OneApp, we are working on adding UMI to a range of trading platforms. As a result, you may have already noticed that UMI has been added to several platforms. The largest and most popular ones are BitGlobal (formerly Bithumb Global, an international trading platform from Bithumb crypto exchange) and Bibox.

We also plan to have UMI added to other exchanges. It’s just the beginning.

6. Will U-DEX support stablecoins?

Yes, it will. The beta version which will be launched in December will have this functionality. At the initial stage, U-DEX will support the exchange of assets from the Ethereum and Binance Smart Chain networks. These networks feature a range of popular stablecoins, including USDT, USDC, and DAI, which will also be available for trading on U-DEX.

Similarly, the multi-currency crypto wallet U-Wallet at the first stage will support assets from the Ethereum and Binance Smart Chain networks. So users will be able to efficiently work with all popular stablecoins: store, transfer, receive, and trade them in pairs with other crypto assets.

7. When will the UMI rate grow?

The UMI rate depends solely on supply and demand on the market. We do not influence the coin price and cannot know when the rate will rise.

But at the same time, we have focused all our efforts on popularizing the cryptocurrency, its development, and creating a deflationary mechanism, which will encourage the growth of demand and create a shortage of coins on the market.

That was why we stopped staking, launched burning, Manifest, and started the development of UMI OneApp. As a native coin of the DeFi platform, it will be used to access various products. If users want to use some solutions, they will need to buy UMI.

Thanks for your time!

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Dear friends, we’ve successfully run another round of burning of UMI coins you exchanged for tokens.
This time, we've burnt another 14,793,368 UMI  worth $400,000 at the current exchange rate!
Here’s the transaction: https://blockchain.umi.top/transaction/a6869060b5460b2020c8b5d746f4216a256c2fce64ccebbdb338a9cde5918573?block=6207947.
Total coins withdrawn from circulation: about 366 mln UMI.
Total coins in circulation — 636,450,222 UMI.

Thanks to burning, the number of UMI coins in circulation will continue to reduce. We believe that this deflation process will lead us all to a bright future!
Yours, UMI Team!

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As you know, in November, the UMI node received a massive update. In addition to the advantages we wrote about in our previous posts, the update added another enhancement.

With the reduction of system requirements, the update has lowered infrastructure costs considerably.

In the short run, this will help reduce the budget significantly and will allow us to spend more on infrastructure development than on its maintenance. And this is really good news. 

Friends, this is the final post about the technical work we did in November to improve the UMI blockchain. Very soon we will publish interesting information regarding our work in December.

Stay with us!
Sincerely yours, UMI team

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New video: Enormous NFT Capabilities on the UMI OneApp Platform
Dear friends, we have released a new video about the UMI OneApp functionality. This video will focus on NFTs — a new trend and one of the most profitable areas which have made a lot of people fabulously rich.
- First, you will learn in more detail what NFTs are and how this area works.
- Secondly, we will show you how the UMI OneApp ecosystem which we are currently developing will help you generate a profit on NFTs.
- We will also observe the main tools for working with NFT marketplaces — U-NFTCenter, U-NFT, U-SmartNFT.
Watch the video to learn more about NFTs — a new and lucrative niche in the market — and how you can make a profit by using UMI OneApp.

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Dear friends, we have written another post about the technical work we are doing in December.

After we analyzed the costs of the UMI infrastructure maintenance, we came to the conclusion that traffic consumes significant resources. In this regard, we decided to update the binary protocol that ensures the synchronization of the nodes.

This update will allow the UMI network to:

Reduce traffic by more than a third, thus reducing costs.
Speed up the node synchronization.
Find more resources for development.

Thus, concurrently with working on UMI OneApp, we are updating the binary protocol.

We remind you that the first Beta version of UMI OneApp is coming really soon. The development is in its final stage and we’re preparing UMI OneApp for release

We’re continuing to grow! Sincerely yours, UMI team

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UMI Burn: Another 25 mln coins withdrawn from circulation forever!
Dear friends, we’ve successfully run another round of burning of UMI coins you exchanged for tokens.
This time, we've burnt another 24 860 749 UMI worth $427 000 at the current exchange rate!
Here’s the transaction: https://blockchain.umi.top/transaction/3b5b91ad9439ab4676ff495fa863d5958cd60910ecbe7f231e7ffff64731b95d?block=6775855.  
The total number of burned coins is currently 390 mln while the total number of coins circulating is  611 451 120.
We remind you that thanks to exchanging UMI for tokens, we will burn 500 mln coins. Now you can burn UMI in your wallet and we also plan to add more burning tools as UMI OneApp develops. 
Our goal is to create a shortage of UMI. We firmly believe that the burning mechanism and UMI OneApp launch will help us to achieve our aim. 
We will continue to inform you about coin burns.
Lots of love, UMI Team!

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Decentralized exchanges are the future of the crypto industry. And we’re going there!


Decentralized exchanges have become a real discovery of 2021. Despite the fact that these platforms have been on the market for quite a long time, it was this year that they became especially popular.

In 2021, DEX trading volume hit a record $1 trillion. This is 858% more than last year!

To make the comparison still more striking, in 2020 this figure was much more modest — ‘only’ $115 billion. Of course, this rise is primarily due to the overall growth of the entire crypto market. However, despite the fact that trading volumes on centralized exchanges have also increased, it is impossible not to notice an obvious fact — users increasingly prefer decentralized platforms. 

This is because DEX offer a number of unique advantages, such as:

- Users have full control over their crypto assets and do not have to trust exchanges with them;

- DEX offered new popular types of generating income via providing liquidity and farming;

- Access to a large selection of crypto assets;

- No need to perform verification and entrust your personal data to anyone.

Decentralized exchanges are the future of the cryptocurrency market. We believe in this and therefore are developing the highest quality product for decentralized exchanges and trading which will be available on UMI OneApp. Our decentralized ecosystem has every chance of becoming one of the market leaders and getting the lion’s share of the huge trading volume due to a number of key advantages. These include:

- Zero transaction fees within the UMI blockchain. 

- UMI blockchain throughput of 65,535 transactions per second. This means that the UMI network will process any number of transactions with lightning speed. 

- An easy-to-use, nice and intuitive interface for interacting with the platform. 

- A capability to exchange assets from different blockchains — this is why we are developing a number of auxiliary services in addition to U-DEX, namely: 

U-CrossChain — a cross-chain exchange that will allow trading crypto assets from different blockchain networks using tokenization;
U-AtomicSwap — an atomic exchange that will allow decentralized exchange of cryptocurrencies;
U-DEXP2P — a tool for decentralized exchange of crypto assets for fiat currencies;
U-Aggregate — provides the user with the most profitable exchange path by analyzing all available liquidity pools. 

Decentralized exchanges on UMI OneApp will be convenient, easy-to-understand (for anyone, even beginners), profitable and accessible to everyone.

The first beta version of UMI OneApp DeFi ecosystem will be released soon. We are entering the new year with a new solution and will actively develop it, while also implementing the plans we have described so far.

Together, we will succeed. Love always, your UMI Team!

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