What is Compounded Marinated UMAMI ($CMUMAMI)?
Users on Umami Protocol can boost their returns by depositing into Umami’s alternative staking option, Compound. Compounding $UMAMI automatically uses $mUMAMI's $wETH rewards to market buy more $UMAMI and redeposit it into Umami's Marinate contract.
Compounders receive a fungible receipt token, $cmUMAMI, that can be exchanged for $UMAMI on the 1st of each month. The yield accrued by $cmUMAMI is reflected as an increasing ratio of $cmUMAMI to $UMAMI.
What is Umami Protocol ($UMAMI)?
Umami is pioneering the mass adoption of DeFi with its expanding array of DeFi Yield products tailored to institutional investors. The Umami protocol is built on Arbitrum, Ethereum's leading Layer 2 scaling chain. It is managed by Umami Labs, a U.S.-based blockchain services company, and governed by holders of the $UMAMI token.