UMB Table Talks — May Recap
Hello UMB Family! 👋🏻
Our latest Table Talks was full of swing! From $UMB listing to the new Data Layer Solution we have a lot to cover.
Let’s dive into all the latest updates and raise your Umbrellas high because it’s raining great news. ☔️🌦️
Exchange listing announcement
The “$UMB listing” is finally here! From now on you can buy and trade $UMB on LBank 🥳
This marks a significant milestone for Umbrella with the possibility of more listings in the future.
“Community feedback has been crucial in shaping our listing strategy and determining the best timing to optimize market conditions and maximize impact”, John, Senior Advisor at Umbrella, highlighted.
He also mentioned Binance’s newly opened application for small- to medium-sized projects as a great opportunity for Umbrella to explore.
Updated Roadmap
To make the most of every initiative, it’s essential to constantly assess new priorities.
In doing so, Eugenio, Umbrella’s Product Owner, introduces the most significant addition to the roadmap, the Data Layer solution.
This new solution marks a new path for Umbrella as it’s set to revolutionize the Web3 data industry. The Data Layer, in fact, will:
- Enhance the user experience;
- Provide visibility to data users;
- Scale the frequency at which prices are updated;
- Elevate price feed customizability.
That will be done by giving each data user the tools to compose their own price feeds without needing to go through intermediaries.
“By utilizing this Data Layer architecture, the broader data solutions will become more permissionless and customizable,” John highlighted.
Token Utility and Governance
Covering token utility and governance, on May 14th, we launched a Snapshot vote with a proposal to make $UMB the preferred payment method for oracle services. This was in line with our Token Utility Planning Proposal 2.0 from November 2023 which included using $UMB for both oracle fees and gas transaction fees.
The proposal passed with 99% voting yes!
This vote demonstrates our commitment to incorporating community input into our decisions and enhancing the utility of the $UMB token.
Partnership Update
To continue the expansion on new chains, back in April we announced a partnership with Rootstock. After successfully completing tests on Rootstock, we are thrilled to announce that $UMB price feeds are now live!
This marks a significant step forward in supporting the Bitcoin ecosystem and reinforces our commitment to being pioneers and expanding on it.
Team Expansion
During the session, the team also announced the expansion of the Business Development department, with a new member set to join soon. Additionally, they introduced Beba, the latest addition to the marketing team. Beba will be dedicated to strengthening our community and marketing efforts, while the new BD member will focus on catching new opportunities and clients for Umbrella.
Looking Forward
Looking ahead, we’re on an exciting trajectory to shape the Web3 data industry and become a key player in the space.
So stay with us for more to come! 🌤️🌈
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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