Smart contract

Staking, withdrawal of tokens from staking addresses and monthly burning in UMI take place through a smart contract. This is an algorithm in which all actions and rules for staking, burning, and withdrawal limits are laid down and automated.

The smart contract ensures that the network strictly follows the rules and these rules are the same for everyone. Thanks to open source, all rules are also as transparent and secure as possible. Users always and exactly know when staking will take place, how many coins they can take out of staking and how many coins will be generated at a specific time.

Smart contract is a guarantee of honesty and a key tool to the targeted use of UMI cryptocurrency.