Umee is a blockchain aiming to facilitate crosschain interoperability. The network is based on the Cosmos SDK and uses the Tendermint proof-of-stake consensus mechanism to enable instant compatibility with the Cosmos ecosystem, Ethereum, and more than 30 other Layer-1s and Layer-2s. Umee's native token can exist as either an ERC-20 or Cosmos SDK token and takes the ticker symbol UMEE at exchanges. It aligns incentives within network consensus, facilitates governance and serves as a means of paying transaction fees.
Umee provides a base layer for developers to build crosschain decentralized finance applications. Initially, the network facilitates lending and borrowing across independent networks. Similarly, Umee enables users to take crosschain loans using staked assets as collateral.