Umee

Description: Umee is a layer 1 or “app chain” for DeFi, they facilitate borrowing and lending markets for Ethereum and Cosmos. Umee uses IBC and the Ethereum Gravity Bridge to connect the two ecosystems. Umee has received a lot of criticism for things like their very centralized tokenomics model, high valuation out the gate, not a good airdrop, and even some criticism of locked tokens being used for voting. With this centralized setup off the bat, it will take a long time before Umee liquidity providers would have a real say in the platform. This also goes against the Cosmos model as they are asking ATOM holders to provide liquidity and take part in the project without any real ownership in the project.

Qualify: Use Testnet