Umami Community Newsletter, 09/16

With this week came further exciting news in regards to Umami’s transparency and legal ambitions. The launch of our Umami Labs LLC website perfectly showcases our mission statement and our team as a whole. On the legal front, we submitted an application to the U.S. Treasury Department to acquire an MSB license. This will help us facilitate the onboarding of institutional capital to Umami’s Vault products.

Other important updates include adding cmUMAMI liquidity on Uniswap v3 and integrating cmUMAMI with Vendor Finance so users can lend or borrow with cmUMAMI.

After hearing community feedback via the google form most of you filled out, there seems to be an interest in reforming our locking mechanism. We expect these two new features to help lessen the impact the current system provides. The team will reassess the time-lock structure for staked UMAMI once we’ve shipped the v2 Vaults.

See all updates below:

mUMAMI Deposited = 504,400 (up 1.06% WoW)

cmUMAMI Deposited = 263,700 (up 2.85% WoW)

Rewards pushed to stakers this week = 5.4 ETH

Total rewards pushed to stakers = 228.86

(Supply and ETH numbers quoted at time of writing on 09/16)

We are carefully reviewing all of the community’s suggestions from the Google form. We are happy to report that the team is already hard at work delivering many of the community’s suggested improvements!

Each new week your support brings us additional confidence that Umami is moving in the right direction. We just want to say thank you to those who read these newsletters, listen to our AMAs every week, and hangout in the Discord!

Happy Marinating Folks!

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