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The smart money protocol Umoja is on a mission to make wealth generation through investing a more achievable goal after closing on a $2 million extension to its initial seed funding round, bringing the total amount to $4 million. Today's round was led by a host of high-profile investors in the crypto space, including Coinbase, 500 Global, Quantstamp, the Blockchain Founders Fund, Orange DAO, Psalion, Hyperithm and the Blizzard Fund by Avalanche.
By attracting such a wide range of backers at such an early stage in its project, Umoja is demonstrating that there’s a lot of support for its idea of using algorithmic trading strategies to help retail investors capitalize on the current, extremely bullish nature of the crypto markets.
Bitcoin recently hit a new all-time high and many altcoins have followed suit, with the overall crypto market making strong gains in the year to date. It has created a golden opportunity for crypto investors to accrue more wealth, and Umoja intends to make sure of that by democratizing access to the wealth creation tools that were previously only available to elite investors like hedge funds.
Umoja’s smart money protocol essentially transforms dormant crypto capital into dynamic, self-enhancing smart assets that aim to make everyone more prosperous. The core building blocks of Umoja’s protocol are known as “Synths”, which are tokenized strategies accessible only through its dApp. Synths make groundbreaking financial instruments such as delta-neutral stablecoins, such as USDe by Ethen, and hedged assets, like zero-downside ETH, available to any investor through its dApp. These are aided by Umoja’s unique adaptive technology that’s designed to minimize losses and maximize returns, so everyone has the opportunity to make smarter and safer digital investments.
Umoja is led by its CEO Robby Greenfield, who has already had major success in terms of enhancing the social impact of crypto. He previously served at ConsenSys as its Head of Social Impact, where he helped Ofxam to implement the world’s first stablecoin-based humanitarian aid program, which resulted in a blockchain-based grant from the U.S. State Department, in support of factory workers in developing nations.
If Greenfield is successful with Umoja, he will likely have made an even bigger social impact, bringing wealth, prosperity, financial inclusion and independence to people who could previously have only ever dreamed of making such achievements. According to Greenfield, Umoja aims to make wealth creation as simple as holding the digital assets, and letting the protocol do all the world. “This marks a pivotal moment where traditional finance and decentralized finance converge,” he promised.
Greenfield explains that Umoja’s protocol will help to overcome a significant “ROI Paywall” that has been created by the lack of access to more sophisticated wealth creation tools. The institutional investors that do have access to these capabilities have demonstrated their ability to outperform retail investors time and again, even in a DeFi industry that was supposed to level the playing field by making money markets accessible to everyone. Umoja argues that DeFi has been unable to live up to its promise of generating wealth for everyone, as it only provides limited, hard-coded investment options.
Using Umoja’s smart money protocol, investors have the advanced tools they need to navigate the especially choppy waters of the digital asset markets. It will enable them to utilize tailored strategies matched to their specific level of risk tolerance.
Umoja is pursuing a laudable goal and to date it has made good progress on its vision, with its transaction volume rising from $45,000 to more than $1.5 million per day in the space of just six weeks.
Umoja’s beta is up and running now and the startup is inviting anyone who’s interested to join in and become an early adopter of its protocol. Simply head to the Umoja site, connect your digital wallet and start running your first Synth. Do this and you’ll be entitled to enter season 1 of Umoja’s early adopter airdrop, which plans to distribute 100,000 UMOJA tokens to beta participants.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
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