Urbit Launches Layer1 EVM Blockchain UVM

Decentralized personal server platform Urbit announced the launch of UVM (Urbit Virtual Machine), a Layer1 EVM blockchain running natively on Urbit. The native token of UVM is $U, whose total supply is 1 billion. 50% (500 million) of $U has been created, with 80% of the liquid supply granted to the Urbit community. The other 500 million illiquid $U has been locked for future protocol development, incentive programs, future airdrops, or to be burned in its entirety.