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UMI Top

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GLZ support added to UMI Jack

Dear friends, we’re happy to announce that we have received an excellent idea — multiple times — through the new form for ideas, issues and suggestions.

You can now use GLZ to play UMI Jack!

You asked — and we did it! Log into UMI Jack right now, choose a crypto asset of your choice for the game and win.

Play UMI Jack — https://app.umi.top/gamefi/umi-jack

We continue to grow.
Always yours, UMI Team!
 
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UMI Top

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New UMI transaction type. Everything you need for decentralized exchange

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The realm of DeFi (decentralized finance) and DEXs (decentralized exchanges) as its significant part have existed for quite a long time; however, practically all the popular platforms are now using the same set of tools. We decided to follow a different route and develop our unique decentralized exchange solution: a new mempool for atomic exchanges within the UMI blockchain and a new transaction type called “exchange”.

The “exchange” transaction type allows for creation of transactions to directly exchange various types of crypto assets directly within the UMI blockchain. For example, your can exchange UMI for GLZ, or GLZ for uBTC (a synthetic bitcoin that will be added into the blockchain later). Essentially, within the UMI network, you’ll be able to work with any tokens, whatever thei might be in the future.

1. First, the maker specifies the wallet address and the number of coins to send, as well as the address and the amount of any other crypto assets they would like to receive in exchange. And then clicks on “Publish transaction in mempool”.

2. The taker then chooses the transaction they need from the mempool, adds their wallets’ addresses for the respective coins/tokens, signs the transaction with their private key (using their mnemonic phrase), and then sends it into the network.

When the transaction is successfully confirmed, it is written into the additional storage, and a master node creates two surrogate transactions in the main blockchain: exchangeWitness.

In other words, an “exchange” transaction is similar to a limit order, with the UMI mempool acting as the order book. Consequently, the UMI network itself becomes a full-fledged decentralized exchange.

We would like to note here that to create the new mempool, we had to create a new protocol to synchronize it both ways. This was needed because atomic swaps, among other things, will also become the foundation of the future integration of farming and liquidity pools.

We have also provided for decentralized NFT trade. We’ll get into the details on that in our future posts.
 

UMI Top

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UMI-based SocialFi — opportunity to get cryptocurrency in exchange for content

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SocialFi is one of the most innovative sectors combining the best practices of the crypto market and the social media.

Decentralized social networks based on the blockchain have become particularly popular after numerous scandals with Meta (formerly Facebook). Over the years, this social network has been accused of selling user data to marketing companies, spreading fakes and leakage of data on 90 million users.

Today, the user base of the social media includes about 4.55 billion people (!), with Meta alone accounting for 2.5–2.9 billion active users per month, according to various estimates. All these people might potentially fall victim to the issues described above.

At the same time, these risks could be mitigated via blockchain-based social media which also offer multiple new opportunities and advantages, including:

- Protection of user data stored in the blockchain;

- No centralized content censorship;

- New opportunities for content monetization through a donation system based on cryptocurrencies;

- NFT integration which opens up new opportunities for both users and artists.

Moreover, it is quite likely that SocialFi will become one of the key development vectors for the mass introduction of crypto technologies into everyday life, and UMI could become an important player in this market. See for yourselves:

UMI offers totally free and instant transactions allowing you to implement various blockchain-based projects.

UMI can execute smart contracts of any complexity level allowing you to launch various SocialFi products.

The UMI blockchain is decentralized and secure — users of the future social networks do not need to worry about the safety and privacy of their confidential data.

Thus, SocialFi is one of the many areas that we intend to develop within UMI OneApp. Our plans for the future include a few interesting products:

- U-Messenger — a simple, secure and fast cryptomessenger based on the UMI blockchain. Users will be able to use it to exchange encrypted messages, as well as make money transfers.

- U-Media — a decentralized platform for combining media resources of varying formats and topics.

- U-Donation — a system for collecting donations for any needs: for yourself or the community.

- U-SocialCapital — a reputation system allowing you to access various services and participate in voting when making important decisions.

Thanks to the high-tech nature and decentralization of the UMI blockchain, we can create a unique platform for communication, content and information exchange, video streaming, and socialization. Integration with the UMI donation system will provide additional incentives for content creators to join the innovative environment and grow.

We continue to work on improving UMI OneApp in accordance with the Manifest — https://umi.top/OneApp_en.pdf.

Stay with us. Yours, UMI Team!
 

UMI Top

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UMI Jack - play and earn

We have launched the first game on the UMI blockchain in the Play-to-Earn format. Watch our new video to learn about all the nuances of the new product. This episode is also dedicated to games on the Ethereum blockchain, which can also be used as one of the ways to increase crypto assets!

 

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Public call to the Administration of CoinMarketCap

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With this public call, the UMI blockchain development team once again requests CoinMarketCap to take notice of the unjustified alert on the UMI coin monitor page at https://coinmarketcap.com/currencies/umi/markets/ dated November 2021, which reads, “The Central Bank of the Russian Federation has issued a warning that the ROY Club (UMI) has signs of a ponzi scheme.” Here’s what it looks like:

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It is unjustified because the ROY Club and UMI projects are equated.

UMI is not a ROY Club project, and vice versa — ROY Club is not a UMI project. These projects have different development teams, different beneficiaries and stakeholders.

The ROY Club used the UMI cryptocurrency as an asset along with, for example, the PRIZM coin (https://coinmarketcap.com/currencies/prizm/). Nevertheless, PRIZM does not have the same alert as UMI, with reference to the Russian regulator. Meanwhile, the official message of the regulator only references UMI and PRIZM in domain names “umi-club.ru” and “prizm-club.ru” which have never been owned or used by UMI.

Besides, the message of the regulator (https://cbr.ru/inside/warning-list/detail/?id=6823) clearly defined the “name, service mark, commercial designation and other means of individualization of a person” — “ROY Club” and “Roy Club”. The name “UMI” is not included in the warning issued by the Central Bank of the Russian Federation. This is how the warning of the Central Bank of the Russian Federation looks like:

image2.png


The UMI team has repeatedly appealed to the CoinMarketCap Administration with legal requests, trying to resolve the current situation or at least get a clear and reasonable response. After all, it is only logical to expect an adequate response to official requests from “the world’s most popular website for tracking prices for crypto assets in the context of the rapid growth of the cryptocurrency industry” (as CoinMarketCap positions itself).

First, the above selectiveness of the CoinMarketCap aggregator in relation to the UMI coin is hard to comprehend since the aggregator must be impartial and avoid giving preferences to anyone, as CoinMarketCap declares on its website (for example, https://coinmarketcap.com/about/). It is obvious that an impartial and independent aggregator should not unreasonably post false information about any assets. In relation to the UMI coin, however, we can see that CoinMarketCap behaves contrary to what it publicly declares.

Second, in the light of the violation of all conceivable norms of international law by the Russian Federation and its unleashing of an aggressive war – an attack on the neighboring Ukraine – the Central Bank of the Russian Federation, as a financial institution that fully supports the criminal foreign policy of the Russian Federation, does not look (and has never looked, in the light of the oppression of the rights and freedoms within the Russian Federation) as a respected and trustworthy regulator. We believe that in this light, CoinMarketCap is not an impartial aggregator and acts under pressure from Binance Capital Mgmt and the Central Bank of the Russian Federation – this unfair abuse of centralization in the cryptocurrency sector does not only fail to strengthen the vision of promoting the idea of crypto revolution and ensuring transparency of the crypto industry declared by CoinMarketCap, but also discredits it.

Thirdly, the current collapse of the crypto market, including the fall of Terra (LUNA) by more than 99.9% (more than 1,000 times) in just a couple of days (more than UMI has ever seen) and the collapse of the UST stablecoin, which dropped below $0.17 at one point, vividly demonstrates the price vulnerability of the entire crypto market. Unfortunately, absolutely any asset can lose in value, and critically so — not only UMI. However, LUNA, UST and other collapsed assets do not have such a mark on Coinmarketcap, while we do. How is this fair? Quite unfair, at the very least.

We, the UMI team, have done everything in our power to reach the CoinMarketCap Administration and are extremely saddened by the current situation. We believe that we have the right to draw the attention of the general public to this issue. We hope that this way we will be able to understand the real position of CoinMarketCap, to prevent unjustified actions on the part of popular and trusted aggregators of crypto industry data, which could potentially be directed to any of the blockchain projects in the future.

Link to article Crypto Daily:
https://cryptodaily.co.uk/2022/05/umi-team-accused-coinmarketcap-of-double-standard-policy
Link to article Cryptopolitan:

#SAVEUMI
 

MINIALEJO19

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Soporte GLZ agregado a UMI Jack

Estimados amigos, nos complace anunciar que hemos recibido una idea excelente, varias veces, a través del nuevo formulario para ideas, problemas y sugerencias.

¡Ahora puedes usar GLZ para jugar a UMI Jack!

Tú lo pediste, ¡y lo hicimos! Inicie sesión en UMI Jack ahora mismo, elija un activo criptográfico de su elección para el juego y gane.

Juega con UMI Jack: https://app.umi.top/gamefi/umi-jack

Seguimos creciendo.
¡Siempre tuyo, Equipo UMI!
having a specialized area for customer service is essential for the proper functioning of a project, without that there is no well-defined UMI roadmap.
 

UMI Top

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What will tournaments be like in UMI Jack?

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Dear friends, we work on improving UMI Jack every day. Today, we’d like to share some details about the weekly tournaments among players, to be added in one of the future updates.

According to the plan, tournaments will be held each Friday (isn’t the end of the working week the best timing?!).

To take part in the tournament, you will need to make a certain contribution in UMI.

Tournament addresses will be displayed to everyone — so you will be able to see the prize pool of each tournament.

Part of the prize pool will be burned for a positive impact on the UMI tokenomics.

The remaining coins will be transferred to the tournament winner’s address.

The tournament itself will be based on the Olympic system (knockout game): the loser is immediately eliminated and the winner of the match-up plays in the next round against the winner of another match-up. The tournament lasts until only one winner remains. They scoop the entire pool.

We know you want to play right now and hit the jackpot. We’re also looking forward to the day when we can launch this new functionality. The actual release of the tournaments is expected in mid-summer — but a few more nice surprises will be there for you even before that.

We carry on. Love, UMI Team!
 

UMI Top

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having a specialized area for customer service is essential for the proper functioning of a project, without that there is no well-defined UMI roadmap.
Thank you for sharing this. We’d like to note that we constantly post about our future goals and plans in terms of developing UMI and UMI OneApp. You can find this information on social media and blog. For example, recently we told our community about our plan to launch SocialFi instruments and a new NFT marketplace. We also shared how we managed to develop an absolutely new solution for storing NFT’s mediafiles straight on UMI blockchain.

But nevertheless, a detailed roadmap is in the works. It will provide detailed information about our plans and the launch-dates of different products. We hope to release it within the next months.

We will definitely keep our community up to date!
 

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Mini-report on the development of UMI OneApp in April-May. Plans for the future

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Dear friends, we would like to share with you a mini-report on what we have recently done to develop UMI OneApp. We will also tell you about our current projects to be integrated in the near future.

So, what this is what we have been doing lately:

- We presented a new design of the game table in the UMI Jack game;

- We added a form for ideas, issues and suggestions on the UMI OneApp website;

- We added GLZ support in UMI Jack;

- We added cross-chain exchanges and finalized related documentation;

- We designed the tournament service and worked out the rules;

- We adapted UMI Jack for future tournament integration;

- We added a huge number of new tokens based on the Ethereum blockchain networks (MKR, SNX and SHIB and others) and BNB Smart Chain (1INCH, GMT and DOGE and others) to UMI OneApp.

- We systematized and added all relevant information on UMI OneApp to the Integrated Help Desk, dividing the materials into user and technical documentation.

In the course of this work, we had some difficulties which slightly delayed the launch of the services. We were forced to abandon the initial tournament architecture in order to make the functionality more load-resistant and create a universal solution for managing tournaments in various games on the UMI OneApp platform. We also encountered some difficulties in implementing cross-chain exchanges which is why we performed additional research.

Now we are:

- Working on adding another game to UMI OneApp — we will present it to you in the near future.

- Finalizing analytics on p2p exchanges and moving on to designing functionality.

- Working on the logic for the tournament admin panel and prepping to launch the long-awaited service.

- Working on adding a plugin for the UMI Wallet browser wallet to the Firefox browser extension store by analogy with the Chrome browser.

We also continue to work on improving other UMI OneApp features, including integration of the GLIZE NFT marketplace into the platform. New releases coming soon!

Love always, your UMI Team!
 

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Latest UMI news

Implementation of NFT in UMI blockchain, technical articles from developers, new version of UMI Wallet - great news that doesn't lose relevance. Watch the new video to stay on top of the latest developments in UMI life.

Liked the episode ? Share the video on social media!

 
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