Umbrella Network Announces Partnership With YOP Finance

The Umbrella Network is pleased to announce a partnership with YOP Finance (YOP), a yield-optimization platform & protocol, to provide Umbrella’s community-owned oracle solution to YOP’s suite of DeFi products.

TL;DR

• Umbrella Network, a community-owned Layer 2 Oracle solution for the DeFi market, announces partnership with YOP Finance, a yield-optimization platform & protocol
• YOP Finance is a decentralized protocol that allows users to access a wide variety of yield markets from a single platform
• Umbrella Network will provide YOP with crypto asset data like spot-prices and TWAPs for all of the digital assets listed on YOP’s aggregator platform

In the wake of the latest Robinhood & GameStop scandal, there has never been a more pressing need for a truly free and decentralized financial market. Frustrated with the amount of control institutional Wall Street players have over the market, retail investors have become more interested in alternative financial products that provide more freedom while at the same time can ensure an adequate level of safety and security.

More and more people are shifting towards the cryptocurrency and decentralized financial markets because of this, and the belief that they are, in a sense, the only truly free financial market. Within this ecosystem, YOP has set out to provide a better, more inclusive, and more secure trading platform for everyone.

YOP seeks to enable easy access to a wide range of DeFi products through a clean UX/UI and a big selection of technology integrations. Once launched, the YOP platform will enable customers to access market data, swap tokens, hold them in its proprietary wallet, deposit them into various DeFi contracts, and follow their portfolios.

Umbrella Network’s Price oracles will power market data in YOP.

As a chain-agnostic platform, YOP is set to integrate various DeFi protocols across multiple blockchains including Ethereum, Polkadot, Binance Smart Chain, and Solana.

The YOP platform will utilize Umbrella’s decentralized oracle solution to provide asset prices to YOP’s proprietary yield optimization protocol. Umbrella will supply YOP with a wide range of crypto asset data, from main pairs to mid and long tail, and a diversity of data types ranging from spot, historical, volatility, time weighted averages (TWAP), and others.

YOP will integrate Umbrella’s oracles for its platform, ensuring the stability and security of its data.

“We are extremely excited to close the first partnership with a fellow Polkastarter project. This is testament to the synergies that like-minded projects within the Polkastarter community can achieve through collaboration,” said Sam Kim, Partner at Umbrella Network. “We believe the community will be a key contributor in driving adoption, growth and ultimately the success of Polkadot as the next viable blockchain ecosystem.”

“We look forward to working with Umbrella Network, another member of the Polkastarter community,” said Atif Yaqub, YOP Founder. “Being able to get a broader array of secure, up-to-date crypto asset data that includes mid and long tail will help strengthen our offerings to the community, and further along our mission to provide everyone access to the world of decentralized finance.”

About YOP Finance

YOP Finance is a yield optimization platform and protocol making it easy for everyone to access the world of decentralized finance. YOP’s all-in-one yOptimization application enables users to have control, custody, insights, and flexibility while trading in a single application. The platform brings together all of the tools while the protocol aggregates all of the smart contracts and pools needed for successful yield optimization.

Follow YOP on Website | Twitter | Linkedin | Telegram

About Umbrella Network

Umbrella Network is a community-owned, scalable, and cost-efficient oracle for the DeFi and blockchain community. Umbrella believes a community-owned Oracle is not only possible but essential to creating a truly decentralized financial system. In addition, Umbrella’s Layer 2 technology utilizes the latest advances in Merkle Tree technology to write multiple data points on a single on-chain transaction, allowing for the secure, inexpensive, and accurate batching of data to smart contracts.

Stay ahead of our latest updates.

Follow Umbrella on Telegram Community Channel | Twitter | TG Announcement channel | Website

For any inquiries, please contact us at marketing@umb.network