Umbrella Network Announces Partnership with Genesis Volatility
Umbrella Network is pleased to announce a partnership with Genesis Volatility (GVol), a leading crypto options analytics platform, to provide previously unavailable options and derivatives data to Umbrella’s network of decentralized financial (DeFi) applications.
TL;DR
- Umbrella Network, a community owned Layer 2 Oracle solution for the DeFi market, announces partnership with Genesis Volatility (GVol), the leading crypto options analytics platform
- Current DeFi applications are unable to accurately price options due to unavailability of quality volatility data
- Umbrella will solve this by providing GVOL’s volatility metrics, including implied (IV) and realized volatility (RV) data, to its entire network of DeFi applications, a market first
- DeFi can finally use IV, RV, skew and other advanced data to accurately price options and financial derivatives using industry leading pricing models, helping to further DeFi’s push to compete with centralized exchanges
Genesis Volatility is the leading provider of volatility data for cryptocurrency options trading. Integrated into Umbrella Network’s Layer 2 Oracle solution, GVol will serve as the primary source of implied volatility (IV), realized volatility (RV), and other advanced volatility metrics for the growing DeFi options markets.
Current DeFi applications are unable to accurately price options due to the unavailability of quality volatility metrics, with users forced to rely on inefficient derivative pricing models. Through the partnership, Umbrella seeks to solve this problem by making GVol’s robust and comprehensive data set readily available to all decentralized options applications. This finally allows users to apply volatility data such as IV, RV, and skew to accurately price options using industry leading pricing models, furthering DeFi’s growth and push to compete with centralized exchanges in the options market.
“We’re really excited to make this crucial data available to the DeFi market in partnership with Genesis Volatility,” said Sam Kim, Partner at Umbrella Network, “and are incredibly optimistic about the opportunities ahead. As the DeFi landscape continues to gain momentum, partnerships with like-minded projects will be essential to fuel continued growth in DeFi. We’re grateful to be able to play a small role in strengthening the oracle link between data and DeFi.”
“We’re extremely excited to see multiple derivative solutions being built in the DeFi space.” Said Gred Magadini, CEO of Genesis Volatility. “Options are complex products with many moving parts. As these nascent solutions come into existence it’s important for market participants to reference more liquid markets in order to efficiently price on-chain options. By working with Umbrella, GVol is able to provide vital volatility metrics, such as: term structures, skews, and volatility surfaces. These on-chain solutions being built by Umbrella are going to be the foundational pillars of DeFi protocol teams and their end users.”
Umbrella’s partnership with GVol is the first step in the Network’s expansion into options and derivatives. DeFi derivatives market players such as Hedget, Opium, Hegic, and opyn are some of the earliest movers in this space. With this partnership in place and the data readily available to the DeFi community, the decentralized derivatives market continues its explosive growth and DeFi applications can finally price their options effectively and efficiently.
About Genesis Volatility
Genesis Volatility is a leading data provider for institutional-grade option traders to analyze key metrics of Implied Volatility for seamless option trading. It promotes scouting opportunities, managing risks, formulating better trade strategies, and efficiently analyzing historical and futuristic data.
About Umbrella Network
Umbrella Network is a community owned, scalable and cost efficient oracle for the DeFi and blockchain community. Umbrella believes a community owned Oracle is not only possible, but essential to creating a truly decentralized financial system. In addition, Umbrella’s Layer 2 technology utilizes the latest advances in Merkle Tree technology to write multiple data points on a single on chain transaction. And thus, it allows for the secure, cheap and accurate batching of data to smart contracts.
For any inquiries, please contact us at marketing@umb.network
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