Sparking data on chain — Umbrella partners with JewelSwap
At Umbrella Network, we’re excited to announce our latest partnership with JewelSwap, the first Peer-to-pool Lending Liquidity Protocol on MultiversX. As JewelSwap’s official oracle partner, Umbrella Network will provide crucial crypto price feeds to support JewelSwap’s platform.
About JewelSwap
JewelSwap is a leading DeFi protocol on MultiversX offering Leveraged Yield Farming, Dual-Token Liquid Staking and NFT Lending.
Their flagship product allows users to supply liquidity using EGLD, earning interest from loan fees. JewelSwap has extended this lending model to encompass NFTs and other MultiversX tokens, paving the way for innovative developments like NFT Mortgage, which enables users to purchase NFTs without upfront full market prices.
JewelSwap’s collaboration with AshSwap further diversifies its offerings, introducing leveraged yield farming. This feature allows users to enhance their farming positions through borrowing, earning yields on both their collateral and borrowed amounts.
JewelSwap is about to release Money Markets (Global Pool) Lending Protocol to enhance their offering and will be using Umbrella’s feeds to secure it.
Umbrella’s Role in Supporting JewelSwap
Umbrella Network steps in to empower JewelSwap with accurate and timely data essential for their operations. By providing customized price feeds to JewelSwap’s unique needs, we aim to facilitate their mission in enriching the DeFi and NFT landscapes.
Quotes from both teams:
“We’re super excited to be teaming up with Umbrella Network,” said Viktor Vostrikov from JewelSwap. “As the pioneering oracle on MultiversX, they bring a wide array of data solutions to the table.The Umbrella team’s dedication to meeting the diverse data needs of the ecosystem greatly enhances our capabilities in the DeFi and NFT spaces.”
Philippe Engels, Partnership Manager at Umbrella says: “This partnership with JewelSwap aligns perfectly with our vision and expansion in the MultiversX ecosystem. We’re excited to see how our data solutions will enhance JewelSwap’s impressive platform.”
Conclusion
This partnership marks a significant step for both Umbrella Network and JewelSwap and the expansion of the MultiversX ecosystem. As the first oracle on MultiversX, this partnership underscores our unique role in this growing network. Keep an eye out for further exciting developments from us within the MultiversX ecosystem.
About Umbrella Network
Umbrella Network, is a decentralized oracle service that provides blockchain projects with secure, scalable, and customizable data solutions.
Umbrella offers smart contracts a broad suite of solutions, whether it is high frequency pricing updates, aggregating large volumes of data at scale, or providing tailored price feeds for specific needs. Secured by a network of decentralized community validators, Umbrella can provide any data that you need when you need it.
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