Umami Finance is a market maker and liquidity provider for Arbitrum . This project has a complete set of liquidity services, including matching, fundraising and market making, helping partner protocols to quickly expand token liquidity on the Arbitrum network.
Up to now, Umami Finance has launched two products, Liquidity Pool and Vault System.
Liquidity Pool allows users to profit from their digital assets. Meanwhile, the Vault System allows users to deploy digital assets and earn rewards. Although the program is still just getting started, the project team has big goals for the future. In the long-term vision, they hope to build a full DeFi ecosystem with a broad range of products and services.
Umami Finance has 4 differences as follows:
The maximum total supply of UMAMI tokens is 1,000,000. This result was confirmed after a community vote on May 26, 2022. However, the total supply can be further increased in some cases as necessary to grow the platform.
This total supply of UMAMI tokens is divided into Non-Circulating Supply and Circulating Supply, where:
Umami offers two services to help users hold tokens:
The project team consists of people with extensive experience in the Web3 space and the cryptocurrency market.
There is no detailed information about the project's investor. However, the project has a cooperative relationship with major organizations in the Arbitrum ecosystem, including Banxa, JonesDAO, Dopex, GMX, Socket, TracerDAO...
In 2023, Umami is set to release a series of standard Crypto Investment products to institutions in the US through Umami Advisors.
Product roadmap 2023
1st quarter of 2023
Umami GLP Vaults: Optimum relative risk return with assets including USDC, BTC and ETH.
Second quarter of 2023
Umami Advisors (UA): Seamless and compliant integration of institutional capital into trust-mitigated DeFi strategies on Ethereum and its Layer 2 extension chains.
First half of 2023
Institutional ETH Staking Pool: Raise institutional capital into ETH staking pools and create a market leading APR on staking ETH through a proprietary technology stack on top of Ethereum's consensus layer.
USDC Yield Strategies: Yield USDC products are allowed to generate market leading risk-adjusted returns on USDC.
The Umami Finance project clearly shows the power of the platform in aiming for sustainable development, eliminating inflation. However, the project still has some limitations, the biggest of which is its complete reliance on GMX and Mycelium. Umami Finance may still face a big challenge as to how to attract users in the current DeFi market.
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