Jan 6, 2022
Umbrella Network Monthly Recap: December
Season’s greetings from Umbrella Network. Here’s a recap of what we were up to in December and what we’re planning to do in 2022.
If 2021 was the year of fast-paced developments and mainnets announcements, 2022 is the year we turn up the dial to 110%.
We’re going to ramp up our efforts towards increasing the adoption of our decentralized oracles by the thousands of dApps that are building on Blockchain.
Without further ado, let’s recap Umbrella Network’s progress, achievements, and observations for the month of December 2021.
Announcements by Umbrella Network
Umbrella Network is LIVE on Avalanche Mainnet
Avalanche becomes the 4th Blockchain to be supported natively by Umbrella Network’s decentralized oracles, following BSC, ETH, and Polygon
This shall enable Avalanche dApp developers to directly call data from our decentralized oracles into their smart contracts!
Umbrella Network will start off providing over 1,800 data pairs on Avalanche. More data means more possibilities. Many oracle service providers are not compatible with Avalanche or cannot provide low enough costs to use their services.
Read the full story here.
Umbrella Network Launches Governance Forum and Voting Portal
Umbrella is a community-driven project and to make community participation even easier, we launched two voting and participation platforms to make community participation more organized and fulfilling.
- Umbrella Network Governance Portal — This portal is built on top of Discourse and allows community members to submit proposals and participate in forum discussions to discuss the Umbrella Network. The URL is gov.umb.network.
- Umbrella Network Voting Portal — This portal is built atop Snapshot and enables community members to submit proposals and subsequently vote on those proposals.
Proposals accepted by majority community vote in the Governance Portal shall be formalized via voting on the Snapshot Voting Platform where all UMB HODLers can have the opportunity to vote on proposals submitted by the community
Read the Full Article here
Staking UMB on Binance Smart Chain is NOW LIVE!
The Hadley and Polar BSC Streams have been launched on Umbrella Network’s staking portal. With over 100% APY (as of writing), there really are no reasons for not staking UMB.
The Hadley Stream enables users to directly stake their BEP20 UMB tokens and the Polar stream offers (going live on 12th January) staking of UMB-BNB LP tokens (obtained from Pancakeswap).
Read the full story here.
Umbrella Network Launches world’s first arbitrage-free options pricing model
As the world’s largest decentralized oracle by transaction volume, we at Umbrella Network found ourselves flush with that missing piece of the puzzle — and we did exactly what you’re thinking.
We designed the world’s first arbitrage-free options pricing model for cryptocurrencies and brought crypto-options on par with the options available on traditional derivatives.
If you’re wondering why arbitrage is something to be eliminated, what was lacking in crypto-options, and how Umbrella Network’s new arbitrage-free options pricing model improves your trades.
Read the full article here
Uno Re and Umbrella Network Increase Insurance Coverage to $1.5M
We meant it when we said earlier that there really is no reason to not stake UMB. All our staking pools and the Umbrella Network Bridge are insured to the tune of $1.5 Million!
This insurance coverage was $500k earlier and was increased to $1.5M following a deeper partnership with Uno Re.
Read the full story here.
Community Validators: Apply NOW!
Community Validators are rightly considered to be the backbone of the Umbrella Network ecosystem. They’re responsible for validating and committing to the Blockchain all data that is later made available to dApps.
To further increase the reliability of our data oracles, we are onboarding the third cohort of the community validators to help make UMB even better.
Fill this form to apply: https://zcu.io/eV3C
Umbrella Network Launches Uniform Random Number Generator
Random Numbers (aka RANDs) are used in many different app mechanics to generate a random result. From calculating damage in gaming RPGs to dice rolls, RANDs are used in several scientific, artistic, and mathematical computations that power DeFi apps, NFT mints, and several non-crypto applications.
RANDs on Umbrella Network uRNG can be directly integrated into dApp smart contracts across the BSC, ETH, Polygon, and Avalanche Blockchain mainnets.
Read the full story here.
Umbrella Network Announces $15 million Accelerator
The Umbrella Ecosystem Accelerator intends to fund companies that are bringing new data solutions to the blockchain ecosystem.
The $15 million provided by the program is dedicated to fund, mentor, supporting, and growing innovative crypto and/or traditional companies bringing data on-chain, and utilizing decentralized oracles
Projects can fill out this form to be considered for the program. Umbrella Network’s $15M Ecosystem Accelerator is envisioned to help development in the decentralization space. We want to draw focus towards making the procurement of data decentralized.
Read the full article here.
Umbrella Network Livestreams and AMAs in December
Umbrella Network TableTalks: Episode 4
Umbrella Network TableTalks is a series of live-streamed conversations between the leadership team, the developers, the community council, and the community.
…it’s going to lead to much broader adoption of blockchain tech, when those people realize that blockchain gaming is gonna invert the power structure and give ownership, earning capabilities, and all the advantages back to the player. It is just a matter of time before more quality games are produced and output on the blockchain system… For us to be positioned in that area will be beneficial to the ecosystem as a whole…
Watch the full broadcast here
AMA with Token Hunter
Umbrella Network’s President, John Chen, was recently invited for an AMA by TokenHunter to answer questions from the community.
Venue: Token Hunter Telegram Channel
On: Wednesday, 8th December 2021|Time: 2:00 PM UTC
We get our data from multiple sources, many of which are professional data aggregators that offer institutional-grade data. So that means they are getting data from multiple sources. In the case of cryptocurrency data, the data would be pulled from multiple exchanges, both CEX and DEX, and then the data is sanitized, and then our validator would check and validate the various data streams.
— John Chen, President at Umbrella Network
AMA with CryptoTalkz
Umbrella Network’s President, John Chen, was recently invited for an AMA by Crypto Talkz to answer questions from the community.
Venue: Crypto Talkz Telegram Channel
On: Wednesday, 3rd December 2021|Time: 2:00 PM UTC
For our project’s development, we currently have a Community Council that helps with overseeing our community ambassador program and helps to oversee various governance functions and responsibilities for the project. Our acquisition of Lucidity, for example, was voted on and approved by the community/governance council so that there is proper oversight from the community on what is best for the project.
— John Chen, President at Umbrella Network
AMA With Gem Tokens Club
Umbrella Network’s President, John Chen, was recently invited for an AMA by Gem Token Club to answer questions from the community.
Venue: Gem Token Club Telegram Channel
On: Wednesday, 15th December 2021|Time: 2:00 PM UTC
We do our best to do exactly what we say we are going to do, which means putting out roadmaps that we deliver against, and when we do get delays on our milestones, which inevitably will happen from time to time, we do our best to be transparent with our community to explain the reasons and situations. I think these things all help to build that trust, and make investors, customers, and users feel more re-assured.
— John Chen, President at Umbrella Network
Read Recap here.
Umbrella Network Media Coverage in December
- Umbrella Network on Cointelegraph
- Umbrella Network on Cointelegraph Features
- Umbrella Network on Finance Feeds
- Umbrella Network on Mond Vision
- Umbrella Network on Smart Liquidity
- Umbrella Network on Coin Live
- Umbrella Network on The Industry Spread
- Umbrella Network on CryptoDep
- Umbrella Network on Crypto Differ
And that’s a wrap on this edition of our monthly recap! See you again next month with more exciting updates!
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, so it allows for batching 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.
If you’re interested in becoming an Umbrella Network Partner, sign up here.
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