Umbrella Network Announces Partnership with MoonieNFT
Umbrella Network is pleased to announce a partnership with MoonieNFT — a Play2Earn gamified DeFi platform where each NFT is 100% usable to earn guaranteed rewards, yield farming, and more
TL;DR
- Umbrella Network and MoonieNFT have announced a partnership for a multi-front collaboration in the NFT and Metaverse space
- Under this partnership, the MNY-USD trading pair has been added as Layer-2 data in Umbrella Network’s decentralized oracle
- This partnership aligns with Umbrella Network’s stated push in providing data solutions in the gaming, NFT, and Metaverse realms in 2022
MoonieNFT is a gamified DeFi platform where users (players) can use their Moonies (MNY) to participate in a host of different exercises to earn guaranteed rewards (via Price Races), earn interest on NFTs and USDT (via Research Lab), and compete with others to get on the leaderboards (via Arcade Games)
Since the Moonie token (MNY) is the key to entering into all the above-mentioned activities for winning rewards, its pricing data needs to be always fresh, cheaply available to dApps and players alike, be free from tamper-attempts, and be available across multiple blockchain networks.
This is why a partnership with Umbrella Network is a paradigm shift for MoonieNFT. With Umbrella Network’s decentralized oracles offering all of the above and more, players in the Moonieverse would benefit massively from an authentic pricing data feed of their key currency — MNY.
The MNY-USD trading pair data has already been integrated into Umbrella Network’s decentralized oracles and is available across 4 Blockchain networks (as of writing) — Ethereum, Binance Smart Chain, Avalanche, and Polygon.
Umbrella Network, already the largest decentralized oracle by transaction volume, now processes 3500+ data pairs and writes them on the blockchain every minute — effectively, a little over 70M+ data pairs per week!
We’re able to achieve this feat due to our Merkle Tree architecture whereby each data pair brought in and validated by community validators is added as ‘leaves’.
These ‘leaves’ are then ‘rolled up’ to the level of the root and hashed before being written on the Blockchain. This enables us to write hundreds of data pairs on the Blockchain while incurring the GAS costs for only one transaction.
This enables us to add several mid-cap and low-cap cryptocurrency pairs which are usually the most susceptible to price oracle attacks but are also usually not covered by other oracles.
This situates Umbrella Network at a unique position where we can add data pairs to our decentralized oracles — essentially adding a line of defense against price oracle attacks.
Ever since the rapid rise of P2E gaming, metaverse, and NFTs, we at Umbrella Network have decided to support this growth by entering into partnerships with both major and upcoming players in these spaces.
Our partnership with MoonieNFT is the continuation of our partnership strategy to better understand and provide rock-solid, scalable data solutions for this industry.
NFTs, gaming, and the metaverse spaces have grown into a multi-million dollar industry and, for some, is ripe for exploitation via price oracle MITM attacks.
If we go by recent vulnerabilities exposed at OpenSea or the hacks of DeFi protocols in 2021–22, the impact on the ‘artistic’ side of crypto could be even bigger where the assets are a little more illiquid and the pricing is a little more sensitive. It is to protect this industry is why Umbrella Network has decided to do a big push in this direction and serve as a first-line defense infrastructure.
About MoonieNFT
MoonieNFT is revolutionizing the gamified yield farming and play-to-earn market by introducing the Moonieverse offering NFT collectibles with arcade games and all-around usability throughout the ecosystem. The MoonieNFT play-to-earn platform provides 100% usable NFTs in a gamified De-Fi ecosystem with beautiful design and big guaranteed prizes. With an abundance of passive and active play-to-earn opportunities, the Moonieverse has something to offer everyone, from casual gamers to the most hardcore play-to-earn enthusiasts!
For more information about MoonieNFT or the Moonieverse platform, please look at our website, Discord, Telegram, or Twitter.
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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