UX's Monthly Newsletter #7
Hey UX Community,
How has the month of July been for you?
For us, it has been 30 days of amazing achievements, including the launch of our new incentives module, participating in EthCC and forging new partnerships to improve the UX experience even more.
Here, let's give you a summary of how July was for us.
We Launched the UX Incentives Module
The V5.1.0 update was completed and went live this month, introducing the Incentives module, a feature that allows projects to incentivize tokens on UX. It allows for custom asset supply strategies; and with more tokens incentivized, an increase in the liquidity pools. This update allows us to encourage the adoption of new up-and-coming assets and attract more blue-chip communities and tokens into UX. We will be sure to notify the community when incentives are provided, so keep an eye on our social channels so you don't miss when the first incentivized tokens go out!
Speaking of Broadening the Liquidity Pool…
With the passing of Governance Proposal 89 came the community's collective approval to add $AXL as a collateral asset. This means that it's now possible for users supplying $AXL to borrow against it!
Additionally, it was impressive how quickly the community took to $stkATOM, because the maximum supply cap was quickly reached, prompting a new proposal which passed to allow us to raise it. We see your love for liquid staking derivatives, and we will do everything in our power to make them available to you.
+$13M Supplied and $4M Borrowed!
Back in October our protocol had $40K $USD supplied, in under a year we’ve grown exponentially thanks to our community embracing us as the premiere lending and borrowing choice for Cosmos. Our devs are working hard to release even more financial products to give you the most utility for your Cosmos and cross-chain tokens. Stay tuned as we plan to drop some new products and partnerships in the coming weeks for You + Me.
UX is on TFM!
We remain committed to fostering the growth of DeFi throughout the Cosmos Ecosystem, and partnering with TFM was a great step in making this happen! It is now possible to transfer tokens to and from UX, and the best part is that it is incredibly fast. Check it out here if you have TFM and let us know how it feels for you!
It was a Month of Community Engagement
We always appreciate the chance to engage with the greater crypto community, and this month it came through the Ethereum Community Conference in France. Our CEO Brent was present to speak about the global financial markets, reminding us once again that the future is DeFi, and that real-world financial markets have begun to catch on.
The world is changing, and at UX, we're happy to give our community front-row tickets to what’s happening. So fasten your seat belts, as we get ready to surf even more DeFi waves with you. Keep in touch with us and let us know how you've been finding the experience on Umee; here are our social channels so you can reach us anytime.