Old Li's UMX @UMX_CN has launched the UMI points program,

The Chinese name for the points UMI is easier to remember, it's called: Youmi!

Many people have privately messaged me to inquire about what this exchange is and what the points are used for. Here is a unified response for everyone, making it easier to understand:

As Old Li's re-entrepreneurship, UMX is positioned a bit differently from other exchanges. It applies some of the good strategies developed by Old Li's team into the wealth management system, so in my view, the main functions are wealth management and appreciation. Therefore, after you join, you will also see content such as its premium wealth management and private banking offerings.

I estimate that everyone was primarily concerned about the deposit promotion offering an iPhone Duo, but upon registering found that domestic identities were not accepted.

In fact, registration is not difficult; you can register using a domestic passport and proof of overseas residence. As for proof of overseas address, don't ask me, I believe you can all figure it out.

Then today, from November 11 to 17, the first phase of activities is launched. I did a simple study of the rules and there are several noteworthy points, as well as some issues that need to be viewed rationally.

1️⃣ Points Mechanism

During the activity period, eligible spot, contract, and options trading can earn UMI points at triple the rate under standard rules.

Points are mainly calculated based on the actual trading fees paid, rather than simply based on trading volume.

2️⃣ 5 Million Points Prize Pool

The first phase prize pool is 5 million UMI, with no upper limit on points per account.

But it is important to note that this is not a reward of 5 million US dollars. If the total points across the platform exceed the prize pool, it will ultimately be reduced proportionally.

3️⃣ Future Value of Points

This is what I believe is the most noteworthy aspect.

What the UMI points can be exchanged for in the future, how they will be priced, and when they can be redeemed are currently not clearly answered. However, I will boldly make a guess: I noticed @DujunX Mr. Du mentioning this might be the largest airdrop,

so could this possibly be some sort of equity? Could it potentially be a certificate for redeeming original shares post-listing?

Of course, this is just my speculation, and I am not sure if such a day will come.

Personally, my attitude towards such activities has always been simple: if there is already a genuine trading demand, accumulating some points along the way could be an additional potential benefit.

But if one intentionally increases trading volume for the sake of points, incurring additional fees and trading risks, then it needs to be recalculated.

Everyone can study this for themselves.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到[email protected]，本平台相关工作人员将会进行核查。