UX Chain, also known as Umee (UMEE), is a layer-one blockchain built on the Cosmos platform. It aims to serve as a universal cross-chain DeFi hub, providing a foundation for future DApps and financial primitives. The UX Chain leverages the interoperability of the Tendermint Proof-of-Stake consensus mechanism, enabling integration with various blockchain ecosystems such as Cosmos, Ethereum, side chains, layer-two chains, and other base-layer protocols. The UX Chain aims to address key challenges in the DeFi space, including detached yields, concentrated systemic risks, and isolated capital, by introducing bridging solutions that aim to enhance capital efficiency and break down the siloed structure of different blockchain ecosystems.

UX Chain operates using the Tendermint Proof-of-Stake consensus mechanism, which offers a blend of speed and efficiency. This mechanism allows UX Chain to establish a reliable base layer for cross-chain lending and borrowing. Built on the Inter-Blockchain Communication (IBC) interoperability protocol, UX Chain provides fast transaction finality without the need for multiple block confirmations or excessive time delays. The platform's Gravity Bridge facilitates transfers between Cosmos and Ethereum, allowing ERC-20 tokens to be used on a chain with fast transaction finality (Cosmos) and then bridged to a network focused on decentralized validators (Ethereum). UX Chain also features a Universal Debt Facility, a base layer lending protocol that allows developers to deploy their own customized debt instruments.

UX Chain aims to enable cross-chain lending and borrowing, staking, and cross-chain DeFi rates. It strives to become a hub for all things DeFi, connecting various ecosystems under the DeFi umbrella. This includes the development of its own interest rate instruments and other financial primitives to provide financial infrastructure for the crypto industry. UX Chain's meTokens are used for collateralized liquid staking positions, enabling users to participate in one blockchain through the UX Chain ecosystem and use this participation to engage in another ecosystem. The platform's uTokens serve a similar function for assets lent through the Universal Debt Facility, representing both the asset and the accruing interest.

UX Chain was founded by Brent Xu, a former contributor to the Ethereum ecosystem and former Strategic Advisor to Tendermint. The project has a team of 16 employees with experience at various blockchain companies and tech giants. UX Chain raised funds in a seed round led by various investors. The platform's native governance token, UMEE, is used for consensus validation in the network's PoS architecture and is involved in token swaps. The token has a total supply of 10 billion, distributed among various stakeholders including the team, Umee Labs, ecosystem, and advisors.

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The current market cap of Umee is $1.17M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Umee is $0.37. This all-time high is highest price paid for Umee since it was launched.

Over the last 24 hours, the trading volume of Umee is $1.12K.

Assets that have a similar market cap to Umee include Vectorspace AI, Kenyan Digital Token, Phoenixcoin, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Umee is 4 billion.