CoinList ICO: Umee + Registration Quiz Answers

Umee is the decentralized infrastructure for cross chain interactions between networks. Umee connects users to create lending and borrowing positions, move capital across chains, discover new yield opportunities and explore DeFi applications in a seamless and trustless manner.

The sale has two public options.

Resources

Places to learn more about UMEE:

• Sale page: https://coinlist.co/umee
• Umee official website: https://umee.cc/
• CoinList Blog: A Deep Dive into Umee: The Base Layer DeFi Hub
• Umeeverse Genesis Launch event
  • 20 Nov 2021 - 27 Nov 2021 00:00 UTC

My opinion on the CoinList ICO system

The CoinList ICO system requires interested investors to login prior to, or during the sale time to obtain a queue number. Judging from the trend, it is getting harder and harder to get a decent queue number.

Only 1.41% of participants managed to purchase anything from the previous ICO. This makes me wonder if it is worth the effort to stay up late and wake up early to participate in these ICO events, and be disappointed 99 times out of 100.

I hope CoinList would work on improving the system. Maybe they can consider adapting from Singapore’s public housing balloting system.

For example, if only 1.5% of registrants are expected to be successful, why don’t they have a pre-sale round of balloting and only grant 4.5% (3 times of expected success rate) of participants the right to queue up on the actual sale date.

It would:

• ease the load on their website servers
• grant the balance 95.5% of investors a good night’s rest

The three times buffer would definitely be enough to ensure the tokens would be sold out also.

Registration quiz answers

I have registered for the ICO and sharing the registration quiz answers in this blog post.

How many tokens are allocated to the Option 1 and 2 sales?

Option 1: 300,000,000; Option 2: 200,000,000

What is the sale mechanism for the Umee sale?

Users in the waiting room for the sale will be given a random spot in the queue when the sale starts. Users who arrive after the sale starts for the sale will be placed behind those in the waiting room.

What is Umee built on?

Multichain

What is Umee built for?

Cross chain lending hub

What currencies are accepted for payment in the sale?

BTC, ETH, USDC, USDT

What is the price per token and max purchase for the sale?

Option 1: $0.06 per token, $500 limit. Option 2: $0.07 per token, $500 limit

What will happen if someone submits a purchase but doesn’t complete it?

The user’s purchase may be cancelled and the user may be banned from future CoinList sales

Where will I be able to participate in the token sale?

CoinList.co

What happens to a user who uses bots or abuses the Queue-It system?

The user’s account will be terminated and all purchases will be cancelled

Purchase details

Your purchase will be confirmed when your deposit clears. If your deposit doesn’t clear immediately, that’s fine – you have until December 7, 23:59 UTC to finalize your purchase.

Please note that if you do not complete your purchase before December 7, 23:59 UTC, your purchase may be cancelled entirely and you may be banned from all future CoinList sales.

If you cancel your purchase after all allocations are sold, you may be banned from all future CoinList sales.

When will tokens be received?

Tokens are expected to be distributed on or around February 15, 2022. Please note that tokens sold in the Option 1 sale have a 2-month cliff followed by a 10-month linear vesting schedule.