UX Chain

What is UX Chain?

UX Chain (formerly Umee) is a Cosmos SDK blockchain that acts as a cross-chain DeFi Hub. IBC connects UX with leading blockchains in the Cosmos ecosystem, such as Cosmos, Terra, Juno, Osmosis, and others.

The UX chain facilitates interoperability between the Ethereum network, side chain architectures, layer two scaling solutions, and alternative base layer protocols.

The UX DeFi hub lets developers build various financial products such as interest rate instruments, financial primitives, multi-chain staking, and more. UX Chain users can also lend and borrow across different blockchains.

UMEE is the native cryptocurrency of the UX Chain ecosystem, used as a primary means of governance, blockchain security, and gas fees for transactions.

What is UX Chain staking?

Staking is a great way for long-term crypto investors to earn passive income on their Proof-of-Stake cryptocurrency assets (such as UX) while taking part in securing the network.

Stakers, by delegating tokens to validators, give voting rights to these to validate transactions on the blockchain and propose new blocks. The more stake is attributed to a validator, the more it will be able to participate in the network consensus and earn rewards for its stakers.

A quick example: Suppose a blockchain network offers a 5% reward rate for a staking period of 1 year (5% APR). You decide to lock up and stake 100 tokens on the network. After a year, you can access your staked tokens, and you receive 5 additional tokens as your reward – minus eventual fees charged by the staking provider.

Staking Proof-of-Stake (PoS) cryptocurrencies such as UX does not require stakers to transfer their token to validators. It is a non-custodial process.

Why is Stakin a great choice for staking on UX Chain?

Staking your assets on your own is operationally challenging as it requires specialist expertise to set up nodes and ensure constant uptime to maximize rewards or prevent so-called slashing: partial loss of your staked cryptocurrencies due to prolonged downtime, or inappropriate/malicious behavior by the node operator.

Stakin has been an early participant in the Umeevenger incentivized testnet and an active participant in on-chain governance and votes on all key proposals. Over 3,000 delegators are already staking their UX tokens with us.

Stakin currently supports 20+ Cosmos networks. As a community contribution, we also provide public RPC nodes and IBC Relayers connecting the IBC ecosystem of networks.

There are several advantages when staking your UX tokens with Stakin, such as:

• Triple AAA-rated institutional staking provider by Staking Rewards

• ISO 27001 certified staking provider

• Tracking dashboard, to easily track and generate reports for the performance of your staked assets

• Reliable infrastructure - We distribute our servers across various geographical locations and partner with premier bare metal and cloud providers.

• Dedicated support for all your staking, unstaking, and network-related questions.

• Institutional grade SLAs with uptime and slashing guarantees.

What kind of institutional services does Stakin offer for UX Chain (UX) Staking?

As an institutional-grade UX Chain (formerly Umee) node operator, Stakin has a full range of staking services and advantages to cater to the needs of enterprises and investors, such as asset managers, company treasuries, exchanges, VCs and hedge funds, wallets, custodians, and liquid staking services.

• Institutional grade SLAs with 99%+ uptime guarantees and slashing guarantees for both the validator and oracle operations

• Integration with custodians such as Fireblocks (via raw signing)

• Dedicated Account Manager to answer all your technical and commercial questions

• Custom integrations and solutions such as custom performance reporting via API or CSV with the possibility to match your backend requirements

• Whitelabel and dedicated nodes with dedicated infrastructure which can be deployed in your preferred region to fit decentralization or compliance needs

• Automated commission and reward management with clear reporting

• 24/7 monitoring and alerting with a private dashboard for dedicated and whitelabel nodes

• Free premium access to Stakin Dashboard which includes staking data visualization across any validator, and premium historical data features (on selected networks)