Umami Community Newsletter, 11/11

Umami
2 min readNov 11, 2022

It’s been a crazy week in the markets with the ungraceful fall of the 2nd largest centralized exchange in Crypto and the collateral damage that has caused. We would like to reassure our community that Umami’s treasury was not at risk, being held by our multi-sig wallets on-chain and owning a total of 0 FTT. We will also go a step further and make note that Umami Labs uses CirclePay for all fiat transactions and holds no funds from our corporate accounts on FTX.

A crazy week doesn’t mean development on v2 Vaults has slowed or has been hindered in any way. While obviously a net negative for the industry as a whole this week presents our dev team with a phenomenal data point for backtesting our models, acting as a black swan event (Collapse of #2 CEX) this week will be invaluable to learn from and prove our models.

See all of our updates below:

  • Published updated FAQ text in our FAQ Discord channel
  • Continued on our journey of sharing AMA highlight videos, next week we move into a new topic… Umami Vaults!!
  • Finalized a candidate for the Growth Manager position on the Umami Team, we think you may recognize the legend in question.
  • Multiple smaller improvements to Umami’s UI
(Umami.Finance UI Changelog)

mUMAMI Deposited = 521,900 (up 4.61% WoW)

cmUMAMI Deposited = 286,700 (up 6.90% WoW)

Rewards pushed to stakers this week = 5.00 ETH

Total rewards pushed to stakers = 289.00 ETH

(Supply and ETH numbers quoted at time of writing on 11/11)

We are very thankful to have such a die hard community of Umami lovers and in times like these we are happy to return the favor. If anyone feels the need to talk with someone or just rant about recent events feel free to reach out in our discord or DMs. Here at Umami we are all one big yield generating, burger eating, Defi loving family!

Before we end it off I wanted to let you guys know that the Kromatika AMA was delayed slightly so instead it will be next Wednesday at 6pm EST.

Happy Marinating Folks! 🍔

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