NB: The $UMJA token will be launched on Uniswap first, followed shortly thereafter by CEX listings.
Utility Tokens = Slow-Motion Rug Pulls
The hard truth is that the token listing value chain is extremely exploitative, does not work in the favor of the project, and results in a slow rug pool on the project’s community.
Memecoins overtook the ‘utility token’ narrative due to predictable underperformance and project-promise exhaustion. Instead of establishing product-market-fit and establishing natural demand for their token, projects increasingly oversold to VCs, launchpads, market makers, and centralized exchanges, leading to one foregone conclusion:
The token ain’t worth shit. 💩❌
For those that don’t know how the current token-listing value chain works, here’s a quick overview click the link in the caption below):
The use of this value-chain has been so ingrained into the Web3 ecosystem that it has fundamentally redefined what “tokenomics” means. To market makers, launchpads, and VCs, tokenomics is synonymous with, “How do you artificially pump your token price?” 😅
There is no game theory analysis.
No growth flywheels.
No long-term sustainability. It's all about “wen TGE?” 😖
This is not how the world’s largest protocols found their beginnings. WAGMI was built on vision, execution, and decentralized access and support–– not multi-stakeholder rug pulls.
Do What Matters, Not What’s Popular
It’s simply not worth paying nearly $1M for a CEX listing when that money could be better spent improving the project, rewarding the community, and providing DEX liquidity.
Most top protocols didn’t start on a CEX—they listed on a DEX first and were later listed on a CEX as their TVL and user activity grew.
Umoja will not follow what’s popular to its own end. We will do what’s best for the long-term growth of the protocol and the success of our community!
The biggest crypto secret, which memecoins understand, is that real success comes from empowering the community as the project grows and natural token demand increases.
Community strength and project growth. That’s how #WAGMI happens. 🤝
$UMJA Launch Strategy: DEX → CEX
Umoja will launch $UMJA on Uniswap on October 31, 2024, alongside $yBTC, the world's lowest-risk, highest-yielding BTC LST, allowing for natural price discovery.As protocol TVL grows, $UMJA's value will increase, as it can be staked for $yBTC, and minters must burn $UMJA to redeem collateral.
Umoja’s inaugural airdrop will also occur on TGE, giving recipients the option to:(1) redeem their tokens immediately or(2) vest them for bonus rewards.A decision must be made by November 30, 2024, or the airdrop recipient’s tokens are forfeited.
After the DEX listing, $UMJA will be listed on multiple centralized exchanges.
$UMJA Strategy: Deflation & Intrinsic Value
The only thing that gives a token value is organic demand and a strong, active community. $UMJA will be positioned as a ‘utility-token in nature, but a memecoin in community’, focusing on introducing tokenomics that create natural demand while also regularly (and sustainably) rewarding active community members that make Umoja great.
As a reminder, the $UMJA token’s utility is the following:
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Performance Fee Rebates: Users may stake $UMJA to the Governance Pool and receive smartcoins (e.g.,$yBTC) in exchange, further topping up their APYs.
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Minter Rewards: Users receive $UMJA for minting Smartcoins.
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Governance: Users may stake $UMJA to the Governance Pool and accrue
$UMO, a non-transferable governance token, in exchange. Governors may vote on protocol proposals on Snapshot.
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Burn Fees: Smartcoin minters must burn their Smartcoins, as well as a certain amount of $UMJA, to redeem their underlying collateral.
$UMJA’s token utility gives way to a strong tokenomic flywheel making it deflationary and giving it predictably increasing, intrinsic value.
Join Us On The Path to WAGMI
Backed by the likes of Coinbase, Blockchain Founders Fund, and Quantstamp amongst others, Umoja is a next generation liquid staking protocol. Introducing to the world's first Smartcoins: low-risk, high-yield LSTs supercharged by DeFi algo-trading.
Umoja’s mission is to democratize wealth creating tools–– for everyone.*(Subject to wait 30 days!)