Umbrella Network is a community-owned Layer-2 oracle network that batches data and proofs for providing inexpensive, scalable, and secure information. By using a Merkle Tree that is rolled up and anchored to Ethereum and a proof-of-stake consensus model, Umbrella can write multiple data points on a single on-chain transaction. This allows each node to validate thousands of transactions for the price it would take to validate one transaction on other networks. As a result, Umbrella is poised to offer many more data pairs for crypto markets as well as for equities and derivatives.
Umbrella network, uses a Merkle Tree that is rolled up and anchored to Ethereum.
Umbrella Network’s mission / goal is to address the data “insufficiency” problem with its “decentralized” Oracle network. It aims to “increase the flow of accurate data between on-chain and off-chain platforms by offering a low-cost data solution (averaging about a thousandth of a penny per data point) that promotes high volume scalability,” the release noted.
At present, Umbrella makes over 1,200 price feeds available for reference in decentralized applications or dApps and products while Oracle solution Chainlink “only supports 194 cryptocurrency price feeds,” the announcement revealed while adding that in 2021, Umbrella has set a goal “to provide 10,000 price feeds.”
NOW ACHIEVEMENTS
Launch of Global UMBassador Program
Umbrella Network is excited to announce the launch of our Global UMBassador Program! To continue the growth of our global Umbrella Network community, we are establishing an UMBassador Program to help us on our mission to promote awareness and educate the broader community about Umbrella Network’s oracle solutions.
What You Will Receive as an UMBassador
- As UMBassadors, you will be official representatives of Umbrella Network in your respective geographies.
- you will become a part of a community of passionate, like-minded individuals as part of the UMBassador program, with the full support of the Umbrella Network team and community.
- UMBassadors will also be eligible to win from a monthly prize pool of $UMB, the amount will vary based on size of Umbassador program, and which will be rewarded to the top performing UMBassadors each month, along with other rewards like exclusive NFTs, Umbrella swag, and more.
As to qualify as an UMBasasador you must be
- A believer and supporter of blockchain, cryptocurrencies, DeFi and technological innovation
- Passionate about the Umbrella Network and our mission to bring the world’s data on chain
- Eager to get more involved with the Umbrella team and help the project grow
- Have an interest to meet other like-minded individuals within the Umbrella community
- Are excited to actively contribute to the project and have an impact on the growth of the Umbrella Network
Umbrella Network Listed on SushiSwap ☂️
Listing Date on : May 1
👉 Intial Trading Pair :UMB/ETH
👉 https://sushi.com
👉Umbrella network gave out big $$$ to the early liquidity providers💪
UMBRELLA NETWORK LIVE ON PancakeSwap V2
we have successfully migrated our liquidity from PancakeSwap V1 to PancakeSwap V2 pool due to PancakeSwap’s release of a second version of their application.
On providing liquidity on PancakeSwap for our UMB/BNB pair, you can now migrate your old LP tokens to the new type, to prepare for the new farms.
Farms are being migrated now.
- Umbrella Network’s Developer Challenge: Building a DApp on Binance Smart Chain using UMB’s decentralized Oracles
operation Build a Binance Smart Chain dApp using Umbrella Network’s oracles and win up to $30,000 from a total prize pool of $60,000.
The aim of the competition is to showcase the value-add of Umbrella’s oracles to the DeFi ecosystem in general and the BSC ecosystem in particular.
Umbrella Network’s Community Validator Program
taking the next step to become a truly decentralized oracle. Umbrella network open up applications for the first cohort of community validators on BSC.
Optimally, we would like to find a few technically proficient, experienced members of our community to be in the initial group, but anyone with experience running a cloud or web server Applied to the program
Umbrella Network Announces Roadmap Update [2021]
Umbrella Network’s roadmap 2021!!!!! 💪 🚀
From Binance Chain & Ethereum to Polygon, Solana, Avalanche, Plasm, and Moonbeam, ALL…in 2021!
umbrella Network oracles LIVE!! on the BSC Mainnet
Been officially live on BSC Mainnet! #RoadToMainnet has been a buildup of hard work and effort by the team, along with tremendous support by our community and ecosystem of partners.
Umbrella Network: Updated Roadmap [Q3-Q4 2021 Edition]
Umbrella Network’s Roadmap Update is HERE
NEW features such as a token bridge, VRNG, and DPoS
Native support for multiple blockchains — Polygon, Cardano, Polkadot, Avalanche, Solana.
Umbrella Network will be sponsoring the ETHOnline 2021
Our goal is to help some of the smartest minds of the world build out the Ethereum ecosystem
🗓 Dates 👉 Sep 17 — Oct 15, 2021.
Umbrella Network Moves Toward Decentralization and Launches BSC Community Validator Program
Umbrella Network is NOW ACCEPTING Community Validator Applications!
Read more
Apply here
☂☂PARTNERSHIPS ☂☂ (over from February 2021 till date)
~ This partnership will let UniLend securely, efficiently, and cost-effectively interact with all this price data, setting the stage for the platform to serve more assets to the DeFi community and further expand its network as a result.
Fire Protocol offers a suite of interoperable money market services that might best be summarized as “Uniswap meets Compound.
Umbrella Network will help MahaDAO in procuring scalable and low-cost oracle data for its various assets, both real-world and crypto
Bridge Mutual is a decentralized peer-to-peer discretionary coverage platform for digital assets. Through the partnership, Umbrella Network will provide secure and scalable price feed data to Bridge Mutual’s platform.
MARCH 2021
Umbrella Network is excited to announce that our $UMB token is now listed on Antimatter’s Chainswap Exchange. $UMB token holders can now seamlessly bridge UMB from ETH to BSC or ETH to HECO, with more chains to follow.
Under the partnership, Huobi will join Umbrella’s ecosystem and bring their deep operational expertise in staking to become Umbrella Network’s latest validator partner.
Under this partnership, Polygon will be able to leverage decentralized oracles on their network via Umbrella Network’s Layer 2 oracle solutions and access critical real-world data such as crypto asset prices, contract information, third-party data, and various other off-chain data feeds.
Umbrella Network is excited to announce a partnership with Uno Re — the world’s first reinsurance risk trading platform, powered by Polkadot. ☂️ 🥳
Umbrella Network is making staking & liquidity providing even safer & more worry-free.
Token holders can soon insure their $UMB via our partnership with Uno Re as the underwriter and PolkaCover for disbursals.
Umbrella Network’s partnership with IX Swap brings features that even tradFi doesn’t have — comprehensive & cost-effective data on private assets 💪
☂️Also includes data on security tokens & tokenized stocks
Conclusion
Umbrella Network, a decentralized oracle solution that promises to dramatically increase the flow of accurate data between on-chain and off-chain platforms.
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