Umami DAO FAQ
Protocol, tokenomics and general guidelines
Last updated
Protocol, tokenomics and general guidelines
Last updated
What is Umami DAO? Umami DAO, a Bonsai Brand, is a Decentralized DeFi protocol that is pioneering the adoption of DeFi with its expanding array of best in class Yield products tailored to the average consumer.
What are Umami’s DeFi Yield Products? Umami Launched its primary yield product atop GMX v2 in Q1 2024 and has been running smoothly ever since, producing ~20% APR for depositors, we plan to expand the asset offering atop this platform and potentially introduce new vault products in the future. Deposit here: https://umami.finance/vaults
Are Umami’s products available to retail investors? Absolutely! All of Umami’s products can be deposited into permissionlessly on its Web 3 app, https://umami.finance/.
How do I access Umami’s Web 3 app? Umami is based on Arbitrum, the leading Layer 2 Scaling chain of Ethereum. Users can seamlessly bridge to Arbitrum from various bridges such as Hop or Synapses. Many fiat Crypto onramps, including Coinbase, Cryptocom, and Binance also onramp directly to Arbitrum.
Does Umami have a project token? No Umami's governance token ($UMAMI) was migrated to Bonsai. Umami no longer has a token. If you have remaining $UMAMI tokens please migrate here
What is $ARBIS? $ARBIS is an old ecosystem token that was deprecated and merged with $UMAMI following a community snapshot. As part of the token merge, $ARBIS holders were given an opportunity to exchange $ARBIS for $UMAMI at a modest premium. The exchange contract is no longer funded.
What is sUMAMI? sUMAMI is the old version of staked $UMAMI. Please unstake your $sUMAMI on the previous front-end.
Is Umami an OHM fork? Not anymore. A predecessor to Umami, called ZeroTwOhm (Z2O), was launched in October 2021. Z2O was a fork of Olympus DAO that utilized its bonding and staking smart contract functions. It continued to utilize OHM tokenomics for around 2 months after it was rebranded as Umami. Z2O/UMAMI “v1” were created by a different team than the one currently running the Umami project. Umami transitioned away from the OHM model completely when its current leadership team took over in February. None of the original Z2O smart contract code is in use.
Is Umami Audited? Yes, Umami's audit was performed by Guardian. You can review the Audit below:
Additional Links Website: https://umami.finance/ Medium: https://umamifinance.medium.com/ Twitter: https://x.com/UmamiFinance Youtube: https://www.youtube.com/@umamidao
