Coin sales and refinancing: DeFi startup Umee sells tokens and earns $32 million

Umee, a platform for creating interactive tools for DeFi users, raised an additional $32 million by selling UMEE tokens on Coinlist.

Umee is developing a "Switch Chain DeFi Hub" to provide DeFi users with interactive devices across chains and entities. This center includes the first tools that Umee has designed and trained to create from scratch. He focuses on developing tools that generate different interest rates, competitive rates, and more competitive rates.

Last June, the company raised $6.3 million in seed from Polychain, Coinbase, and more. Now add $32 million in revenue on UMEE tokens. The group sells tokens through CoinList, a platform where digital assets can be sold before they appear on the exchange.

Umee Products Marketing is the most recorded in CoinList's sales history, reaching over 900,000 and selling out within an hour. This sale adds 64,000 token keys to the Umee blockchain.

CEO Brent Xu said the team plans to use the new revenue to expand the engineering team. Grow your investment resources, grow your process, and grow your global community as you grow your business.

To improve the relationship between on-chain hubs, Umee hopes to invest a team of 6-8 experts for each blockchain network connection, including system engineers, crypto engineers, and product managers. He plans to increase the number from five to eight by the end of next year.

Umee's ecosystem continued to support multiple blockchain-connected infrastructures, making it easier to integrate different networks. The team plans to establish a network competition for connectivity and loans, Xu said.

According to reports, the team plans to launch the mainnet in mid-February 2022. A beta version of the web application will be available in the coming days.