OIN partners with the first Decentralized Oracle Service — Umbrella Network
We at OIN are thrilled to announce our latest partnership with the Umbrella Network, the first of its kind decentralized oracle service.
Umbrella Network is the first decentralized oracle service platform that has the ability to handle all modern DeFi applications. The company’s USP lies in its scalable, secure, and community-owned network that provides access to previously unavailable data to blockchain projects.
This partnership will help OIN by providing us with a robust and reliable price feed. Umbrella network has all the tools necessary for providing any DeFi platform price data on altcoins and other crypto assets securely. We will be utilizing Umbrella’s scalable oracle infrastructure for the OINDAO service. This will help in fulfilling the requirement of custom priced oracles for each pool to function properly.
About Umbrella Network
Umbrella Network is a cost-efficient, secure, scalable, and community-owned oracle service for the Decentralized Finance space. The company’s decentralized nodes are built using Layer 2 Merkle Trees which have the capacity to combine thousands of data pairs in a single node. To keep its data accurate, the company collects information from multiple sources and Delegated Proof of Stake (DPoS) consensus models.
Umbrella Network governs their network together with their community members, stakers, developers, and validators to keep all the activity transparent.
“We’re glad OIN sees the value in what we’re developing. Umbrella Network presents some compelling advantages over what’s currently available in the market,” said Sam Kim, founding partner of Umbrella Network.
He adds, “Our fundamentals are strong, our community is growing, and we’re continuing to gain more momentum. And it’s great to partner with other like-minded projects like OIN as we work together to help spur further growth in DeFi.”
Partnership Details
OIN is a stablecoin issuance platform that brings unique Decentralized Finance functionality for various projects using its multifaceted infrastructure. We cater to the needs of small and large-scale blockchain projects alike by utilizing our robust network of community members to provide one-of-a-kind DeFi functionality.
Our first product OINDAO is a stablecoin and stake derivative issuance platform. Our members and clients can use this tool to mint their own stablecoin and leverage it for building their yields or exchanging for other crypto assets.
“There’s no shortage of oracle providers out there, but Umbrella Network’s solution is incredibly compelling for us,” said Richie Li, co-founder of OIN.
He further adds, “It can operate at a significant scale and provides certain mid-tail data sets that were previously unavailable. As our OINDAO grows as the number of tokens offered, we need a reliable partner to support us in our mission to bring DeFi functionality to every project.”
This partnership will provide OIN with the opportunity to serve our clients more productively and improve the Umbrella Network’s scalability while we consistently work towards our vision of a world where crypto is used for everyday transactions, just like traditional fiat.
About OIN
OIN is a stablecoin issuance platform that uses its multifaceted infrastructure to bring great Decentralized Finance functionality for various blockchain projects. It has a unique and versatile blockchain infrastructure that provides one-of-a-kind DeFi functionality to small and large-scale blockchain projects.
OINDAO service helps users leverage their assets and mint their stablecoin tokens with a flexible staking pool. Users can exchange these tokens for other coins to build their holdings.
OIN has the brains and the tools to provide a platform for seamless integration between Ethereum and other cryptos in its ecosystem. By doing so, we will open up to all of the DeFi space and provide them the tools to leverage their assets for staking rewards, mining and staking pools, and more. This mission will be achieved by a three-way approach:
- Becoming the gateway for DeFi
- Promoting and building up the DeFi space
- Walking the DeFi industry to maturity.
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