Launch of Umbrella Network (UMB) Staking Service

Dear Users,

AscendEX has launched Umbrella Network (UMB) Staking Service. Details are as follows:

UMB Staking

Token	UMB
Reward Token	RUMB1
Minimum Delegation Amount	100 UMB
Maximum Delegation Amount	None
Minimum Staking Period	Unstake anytime
Reward Calculation Starting Time	T+1 Day
Reward Distribution Starting Time	T+2 Day
Reward Distribution Cycle	Every Day
Regular Unbonding Period	1 Day
Minimum Undelegation Amount	100 UMB
Instant Unbonding	Supported
Instant Unbonding Fee	1%
Staked Assets as Margin Collateral	Not Available Now
Compound Mode	Not Available Now

 

Notes: UMB staking rewards distributed in the form of RUMB1 tokens. RUMB1 is non-tradeable. Umbrella will generate 111,872 RUMB1 everyday after launch. RUMB1 will be redeemable for 1 UMB when certain business milestones are reached or 1 year from start of Milestone 1. Each day, a maximum of 223,744 RUMB1 can be exchanged for UMB. This RUMB1 for UMB exchange process will take 6 months or less.

PC: Click here to participate in UMB Staking

App: Click [Staking] on the homepage to participate.

We truly appreciate your continued support.

AscendEX Team

April 26, 2021

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