Umbrella Network Announces Partnership with BSC Station
Umbrella Network is elated to announce a partnership with BSC Station — a full-stack DeFi Application that offers NFT auctions, a launchpad for initial token distributions, and BSC Swap, a Decentralized Exchange (DEX) for swapping BEP-20 tokens and trading NFTs on Binance Smart Chain.
Under the partnership, Umbrella Network will be providing a variety of price feeds including key crypto pairs as well as mid-cap cryptocurrency data to support BSC Station’s full suite of DeFi Applications.
Umbrella’s layer 2 data solution will provide secure, reliable and low-cost data to help BSC Station offer accurate NFT and non-NFT project feeds to enable the distribution of tokens to a wider audience, and help BSC Station incentivize investors with higher returns.
The Umbrella Network is the world’s first truly decentralized, community-owned blockchain Oracle, that offers secure and scalable data through its Layer-2 architecture.
This diverse array of data is utilized by smart contracts and DeFi applications to broaden the scope of applications and to ensure their precise and seamless execution.
Umbrella Network’s Oracle solution is capable of retrieving and relaying a range of off-chain data including major key pairs, real-world financial information, along with core, mid, and long-tail pairs. The data, once retrieved, is validated using a Delegated Proof of Stake (DPoS) consensus mechanism to ensure security and a fully decentralized environment.
BSC Station is a full-stack DeFi platform that offers NFT compatibility on Binance Smart Chain for auctions, along with swapping and pooling services. The BSC Station SDK and Smart Security facilitate the use of auction features by standardizing NFT tokens and allowing their seamless transactions on the Binance Smart Chain. Their NFT protocol employs smart contracts and encryption algorithms to encrypt bids, which ensures that the bids can’t be changed.
The auctions empowered by BSC Station’s DeFi platform include-
- Dutch Auction
- English Auction
- Sealed Bid Auction
BSC Startpool on the other hand allows users to pool their tokens to a wider audience, in turn generating higher returns in the form of new tokens. Startpool allows for the staking of BAKE, BNB, and BUSD tokens, and helps crypto users farm new assets. Moreover, BSC Swap’s decentralized exchange further allows for the swapping of BEP-20 tokens and NFT, through an Automated Market Maker (AMM) model using a liquidity pool.
“We are delighted to partner with BSC Station as we look forward to working closely with their NFT compatible smart chain swapping services,” said Sam Kim, Senior Advisor of Umbrella Network. “BSC Station offers a unique platform to auction NFT tokens through the BSC NFT Station SDK, along with swapping and token pooling services with NFT compatibility. We look forward to working with BSC Station’s team and to continue our support of the BSC ecosystem”
“We are excited to work with Umbrella Network and deploy their data oracle to strengthen the pricing data in our overall suite of solutions,” said BSC Station founder Scofield. “As our full DeFi stack continues to evolve, our various data requirements will also grow, and Umbrella is well-positioned to support those needs securely and at scale. We look forward to a long-term relationship with Umbrella Network.”
About Umbrella Network
Umbrella Network is a scalable, cost-efficient, and community-owned oracle for the DeFi and blockchain community. Its Layer 2 technology uses the latest advances in Merkle tree technology to write multiple data points on a single on-chain transaction, allowing for the batching of data to smart contracts accurately, securely, and inexpensively. Umbrella believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system.
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About BSC Station
BSC Station is a full-stack DeFi platform with NFT compatibility that offers various utilities including token swaps, pooling services, as well as NFT auctions. Its unique NFT compliance allows users to auction NFTs, swap tokens with BEP-20, and pool them through the BSC Startpool.
The tokens which can be staked in the BSC Startpool include BAKE, BUSD, and BNB. The decentralized trading platform places the ownership of your coins in your hands, and while any crypto wallets that support web3 and dApps can be used to leverage BSC Station’s services, the wallets’ Chrome extension is the more popular choice.
Learn more about BSC Station here-