Umbrella Network Announces Partnership with Alpha Hunt
TL;DR
- Umbrella Network and Alpha Hunt have entered into a partnership across multiple avenues
- Under this partnership, Umbrella Network shall serve as the data provider oracle for the portfolio companies of Alpha Hunt, across the entire spectrum, from due diligence to to launching with critical data/oracle solutions
- Umbrella Network shall also add the price feeds of these portfolio companies as Layer-2 data (L2D) made available via our decentralized oracle
- Our decentralized oracle shall also help Alpha Hunt perform initial investment audits related to data
Investment firms, companies, and associations like Alpha Hunt are always on the lookout for innovative crypto-startups to invest in early. The rationale is simple — get in early before everyone else and reap the benefits when the crypto-project invested in goes mainstream. Imagine buying bitcoin under $5 or ETH under $1 or more recently, buying LUNA under $10.
However, if it was to be so easy, everybody would be doing it.
Finding these (so-called gems) is not an easy task. Investing as a group is even harder because while you can ‘ape in’ with your personal funds and YOLO to profits (or losses) when it’s a group, you have a fiduciary responsibility (if investing others’ money) and need to perform lots of due diligence (a lot more than just scanning the block explorers).
It is with respect to the latter where Umbrella Network shall be leveraged by Alpha Hunt to fix issues that usually crop up during due diligence and project audits. As a decentralized oracle with the largest set of tracked data pairs (3800+) across 6 different blockchain networks, we’re the natural choice when it comes to the sheer volume of data.
But that’s not all!
Sourcing data from Umbrella Network is also cheaper than any other decentralized source of data AND is more frequently updated, ensuring cost-effectiveness and data freshness, apart from the aforementioned data volume.
This is made possible via our Merkle Tree architecture which enables us to process thousands of data points and write them on the Blockchain, as a single transaction!
The scope of the partnership doesn’t end here. It also includes:
Addition of price feeds of Alpha Hunt portfolio companies to our decentralized oracle
Crypto startups in 2022 do not have it easy. Not only must they toil hard to rise above the rest, they must also be ready to face the onslaught of nameless hackers looking to make a quick illegitimate buck.
A lot of these hacks are perpetrated by manipulating the price feeds.
Alpha Hunt portfolio companies, by virtue of their partnership with Umbrella Network, shall always have a decentralized source of their pricing feed — one that cannot be tampered with!
Umbrella Network To Serve as Oracle for Alpha Hunt’s portfolio of companies
While the addition of pricing feeds to our decentralized oracle adds resistance to price manipulation attacks, what happens when the Alpha Hunt portfolio company itself needs to source data onchain?
Umbrella Network shall ensure decentralized data availability on this front too! This is an essential good practice fast gaining currency among smart contract developers furthering decentralization. Alpha Hunt’s portfolio companies shall have a headstart in this regard over others!
On the occasion of the partnership, John Chen, President of Umbrella Network said, “We welcome the addition to Alpha Hunt as a partner for, among other reasons, their positioning as a long-term investor in a slew of innovative crypto-projects. This partnership shall not only bring a host of other partnerships for Umbrella Network but shall also ensure that the innovations in the world of crypto do not come at the cost of sourcing data from centralized sources”
About Alpha Hunt
Alpha Hunt Club is a community of crypto investors looking for long-term partnerships with young blockchain companies to help accelerate their growth.
Social media:
Twitter | Website | Telegram | Discord
About Umbrella Network
Umbrella Network is a scalable, decentralized, and community-owned oracle that utilizes Layer 2 technology to integrate real-time data into smart contracts for accurate and timely reports. Umbrella Network brings the world’s data to blockchains to enable DeFi applications to perform at the optimum level regarding precise information dissemination.
It believes a decentralized oracle is paramount to creating a truly decentralized financial space.
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Telegram| Twitter | Announcements | Website | Governance
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