UX

UX (formerly Umee) is a Cosmos ecosystem DeFi protocol focused on interchain lending and borrowing, designed to let users supply assets to earn yield, borrow against collateral, and access liquidity across multiple IBC-connected chains.

UX combines three main directions under one umbrella:

• Money market (lending/borrowing): users deposit supported assets into lending pools, earn interest from borrowers, and borrow other assets by posting overcollateralized positions. Interest rates and utilization are managed algorithmically by the protocol.

• Interchain functionality via IBC: UX is built to work across the Cosmos ecosystem, enabling assets from different IBC chains to be used as collateral or borrowed liquidity, with cross-chain transfers and composability as a core design goal.

• Protocol risk management + governance: the system includes risk parameters (collateral factors, liquidation thresholds, caps, etc.) and on-chain governance to update markets, manage risk settings, and evolve the protocol. The native token (historically UMEE / now UX positioning) is used for governance and incentives.

Key features typically highlighted by UX include permissionless market listings (subject to governance/risk controls), liquidations to keep the system solvent, incentive programs for suppliers/borrowers, and a focus on interchain capital efficiency for Cosmos DeFi.