We are thrilled to announce Umee’s mainnet upgrade of the native lending and borrowing module, compatible with all IBC-enabled blockchains in the Cosmos ecosystem! The upgrade introduces an elevation of user experience in cross-chain borrowing and lending by allowing users to leverage all Cosmos and Ethereum assets quickly and cost-effectively on the Umee blockchain.
The launch introduces a seamless experience in the native Cosmos environment for users to access liquidity across 40+ IBC-enabled blockchains. The advancement in interoperability will take the native Cosmos DeFi experience to new heights.
We are now opening doors for Cosmos users to lend and borrow Cosmos and Ethereum assets directly on Umee with just a couple of clicks. Users can instantly deposit their Cosmos and Ethereum assets to earn lending yields while borrowing at attractive rates.
Upon the release of the Cosmos native lending module, new cross chain yield opportunities arise for all Cosmos users to access greater liquidity with this upgrade through the use of liquid staking tokens, AMM LP tokens, bridged tokens and more. Umee allows anyone to propose and list new assets on Umee through its governance process. By allowing Cosmos and Ethereum assets to be seamlessly lent and borrowed within the IBC network, infinite new DeFi possibilities will be unlocked.
In preparation for this major milestone, we engaged with security auditors such as Trail of Bits, Runtime Verification, Least Authority, Peckshield and Halborn while proceeding with seven audits in total to deliver the best performing and secure lending experience in Cosmos.
We are very excited to release our latest product to you. What’s more, we will be announcing our liquidity mining program shortly after. Umee aspires toward building the industry’s best lending specific blockchain and paving the way to bring a new revolution to the global debt capital markets. Stay tuned for more announcements to come!