In-depth analysis of UMI tokens: what exactly will this Unimine platform do?

Even now that Bitcoin has hit a new high in the past three years , the popularity of DeFi is still unabated , and we can get a glimpse of the trend of YFI .

YFI has nearly doubled the market in less than two days from the bottom of $7,700 . If BTC represents the prosperity of the entire cryptocurrency industry, then there is no doubt that YFI is the leader of the DeFi sector in cryptocurrencies and also represents the prosperity and wind direction of the sector.

Recently, a UMI platform has adopted a different approach from YFI . The platform chose to mine in three phases after the undifferentiated airdrop. This is a very long-term layout. Let me take a look at it.

According to Unimine’s official website, the maximum supply of platform currency UMI is 100 million, which will be mined in three phases (the original plan was to raise two million online, and later for community fairness, the two million will be destroyed)

Screenshot of the project community announcement

After excluding the 2 million destroyed , the mining volume of unisage in the first phase is 22.5 million, and the liquidity in the second and third phases is more than 75.5 million. At present, there are about 2,000 Chibi addresses that can be seen through the browser , which proves that the first phase has indeed been obtained. A certain effect.

We learned from its white paper that the main role of UMI in the early stage is to use for liquidity mining, and the later application scenarios are gradually expanded. All the platform’s revenue will be used to buy back and destroy UMI , and eventually destroy 21,000 .

Moreover, when the second and third phases of liquidity mining are started, UMI can also be used to vote in the community to select mining projects. This is like giving the Unimine platform the attributes of YFI , which will undoubtedly continue to stimulate market demand.

The Unimine platform has just started . We will wait and see how high it will be in the later stage and whether it will break through the bottleneck of the existing DeFi world.

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Caesar Bruce

a finance,blockchain & fintech enthusiast,loves to focus on some altcoins and new fintech project.Remember Do Your Own Research.