Umbrella Network
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Umbrella Network

Umbrella Network Community Proposal: Transition away from rUMB rewards and burn 50mm UMB tokens


Our current rewards programs (Hadley, Polar and Astro) distribute rewards in rUMB tokens (rUMB1, rUMB2, rUMB3, & rUMB4) and these can be eventually converted to UMB on a 1:1 basis.

Proposed changes:


Transition to UMB will remove the rUMB rewards token entirely, and allow the community to be better aligned with the UMB utility token.

Burn will reduce future supply of UMB and inflation in the long run.

Impact and benefits:

Implementation details:

Conversion process and timeline for rUMB to UMB will be announced after the vote and implemented by February 2023.

While the burn of 50mm tokens will be executed according to a transparent and verifiable process.


Proposed changes to be voted on by the Umbrella Network community. If approved, transition and burn will be implemented by February 2023.

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 that is secure, scalable and cost effective. Umbrella Network brings the world’s data to the blockchain to enable applications to perform at the optimum level regarding precise information dissemination. We believe a decentralized oracle is paramount to creating a truly decentralized blockchain ecosystem.

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Umbrella Network is a decentralized oracle for dApps to get data across different blockchains, at the lowest price, for 1800+ data pairs, with the most frequently updated data. Our other products include — Bridge, Options Pricing Data, Staking Portal, and more!

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