Event Timeline
About Umee
Umee is a cross-chain DeFi lending platform built as a Cosmos SDK Layer 1, connecting liquidity across Cosmos (via IBC) and Ethereum. It lets users lend, borrow and earn yield on assets from multiple chains through a universal money market, with staked assets remaining usable as collateral. Founded by Brent Xu, it launched mainnet in February 2022 after a large CoinList sale, and later rebranded to "UX Chain" (UX token). UMEE/UX secures the chain via Proof-of-Stake and powers gas, staking and governance.
Umee launched mainnet Feb 15, 2022 with a 10B uncapped supply (dynamic 7–14% inflation) as a Cosmos-based cross-chain lending hub. Allocation: 46% Community (4.6B ,7% liquid at launch, the rest vesting linearly over 6 years), 16% Team & Advisors (1.6B, cliff + vesting), 14% Private Rounds (1.4B), 10% Umee Labs (1B, 12-mo cliff then 84-mo vest), 9% Ecosystem (900M, 8-yr vest), and just 5% Public Round via CoinList (500M). Honest flags: only 5% sold publicly while insiders (team + Umee Labs + private ≈ 40%) held a large share, supply is inflationary, and the project later rebranded to UX Chain (UMEE → UX).
How the Umee airdrop worked
Get a wallet
Acquire UMEE/UX
Lend or borrow
Stake
Govern
Was the Umee airdrop worth it?
- There wasn't a real airdrop. UMEE was distributed through a $32M CoinList public sale and staking/community rewards ,there was nothing to claim for free retroactively.
- Public access was small. Only 5% went to the public round while insiders held ~40%, so early allocation was limited and heavily vested.
- Value declined and the token rebranded. UMEE fell hard post-2022 and became UX , list it as a cross-chain lending project (now UX Chain), not an airdrop opportunity.
This airdrop has concluded. It is kept for research rather than participation.
