Subscribe to Bankless or sign in
Hotness Rating (🔥🔥/5): Umami is in crisis following the unceremonious (to put it lightly) departure of its former CEO. While it’s possible that the Umami brand is permanently tarnished, the transition to a DAO model and successful launch of the GLP vaults could breathe new life into a project which had already once been left for dead as an ex-OHM fork. Given that UMAMI currently trades ~1.7X above RFV, it’s unlikely that the DAO will vote to dissolve and return treasury funds to tokenholders in the short-term. Perhaps UMAMI will have an end of 2020/early 2021 SushiSwap style resurrection, but between trading above RFV and the massive near-term risks facing the project, non-degen investors may want to take a wait-and-see approach before adding it to their shopping carts.
Subscribe for free to continue reading
- Support the Bankless Movement
- Access to thousands of articles
- Complete archive of Bankless episodes
- Embark on free quests in Airdrop Hunter
- Daily alpha in your inbox
Already subscribed? Sign in
