Staking with dosed withdrawal
Staking on a smart contract is the key and only way to create new UMI coins, available to every cryptocurrency user on equal terms.
To start staking - just transfer the coins to your personal staking address and the process will start automatically.
UMI coins on staking addresses are continuously multiplied automatically and in real time.
The staking rate is gradually decreasing in order to keep a balance between supply and demand in the market as development progresses.
Total issuance | Staking stages |
0 – 1 999 999 | First |
2 000 000 – 2 999 999 | Second |
3 000 000 – 3 999 999 | Third |
Более 4 000 000 | Fourth |
As written in Tokenomics, in addition to rewarding users with staking, UMI coins are also generated on technical addresses:
UMI Development Team Fund. Staking generates coins on team addresses and is used to maintain and develop the UMI blockchain, the infrastructure around it, and bonuses for specialists (programmers, designers, copywriters, marketers, and so on).
To the ecosystem's product developer fund. Coins are used to finance new and existing products of the UMI ecosystem in order to expand it.
To the development fund. Coins are used for general development of UMI, including technical development, launch of promotions and active marketing.
To ensure that high interest rates do not lead to an oversupply of coins on the market and a drop in their value, a systematic withdrawal mechanism is integrated into the smart contract.
Each month, 1/10th of the total amount of coins in the staking can be withdrawn from the staking, taking into account the accrued reward. The mechanism does not allow withdrawing the entire amount from staking at one moment, thus increasing the value of the entire UMI ecosystem and protecting against speculation in the market. At the same time, it allows each user to receive stable rewards in the long term and use the coins for any purpose.
Coins in staking are not burned as part of the monthly burn-in (more on burn-in below).
You can withdraw and deposit coins in staking at any time, even every second.
The amount available for withdrawal is updated not once a month, but in real time.
Coins on technical addresses that are generated for the team fund, ecosystem developer fund and development fund are not subject to burning and withdrawal restrictions. In addition, transit staking addresses can be created in the UMI network - they are also exclusively technical and coins on them are also not subject to burning and withdrawal restrictions. Such addresses are used only in official products of the UMI ecosystem.
With UMI staking you can withdraw larger and larger amounts every month for any purpose, continuously increase your balance in the long term and be protected from speculation.
Thanks to staking technology and systematic withdrawal, UMI coins always have value and allow everyone to grow their balance on fair and transparent terms
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