Umbrella Network Monthly Recap: March 2022
On the month that we honored Women and celebrated St Patrick’s day, we also breached 50k followers on Twitter.
This is a great milestone for us — summing up our growth through the month of March!
Umbrella Network Announcements
Umbrella Network’s 2.0 Staking Streams Are Now LIVE!!!
Umbrella Network’s newest staking pool, the Astro Stream, enables you to stake your claimed rUMB1 tokens with a much higher reward % than the Polar and Hadley 2.0 Streams.
Umbrella Network’s staking streams can be accessed at staking.umb.network and enable you to stake across the ETH and BSC chains with the ERC20 or BEP20 variants of the UMB token, respectively.
Umbrella Network Community Update following the Polar Stream 2.0 Exploit
We would like to provide full transparency to our community on how things are progressing, so here are a few updates:
- Fixed Polar 2.0 Staking Stream for people to stake their UMB-ETH (Uniswap) and UMB-BNB (Pancakeswap) LP tokens, and will be sending it over for audit
- AscendEx Integration: The current expectation is that Hadley 2.0 will take 3–4 weeks to go live, and Astro up to 8 weeks
Sandstorm Joins Umbrella Network Ecosystem Accelerator
Umbrella Network participated in the $2.5M fundraising round for Sandstorm via the Umbrella Ecosystem Accelerator Program. This makes Sandstorm the first recipient of our program and will assist them in making the Metaverse space more responsible and efficient when it comes to data sourcing, avoiding the earlier mistakes made by the then-nascent DeFi space.
Sandstorm, backed by Umbrella Network, The Sandbox, Fenbushi Capital, Sanctor Capital, Bitscale, and others, offers a platform for Metaverse builders to collaborate more seamlessly with the biggest brands in the industry.
Umbrella Network Launches Passport Beta to Make L2 Data more easily accessible for dApps
Umbrella Network launched the Passport Beta and has lowered the technical requirements bar for dApps looking to receive thousands of Layer-2 data points directly into their smart contracts.
Passport Beta automates the series of steps that dApps (up until now) had to undertake to be able to get authenticated data feeds (via decentralized oracles).
With Passport, layer-2 data becomes available on-chain and can be served directly into smart contracts — in a more cost-effective and more reliable way than any 3rd party or in-house solution.
MetalCore Joins Umbrella Network Ecosystem Accelerator
Late last year, we announced the Umbrella Ecosystem Accelerator, a program dedicated to companies fostering growth and bringing data solutions to the blockchain. The accelerator’s mission is to prevent limited data access and high costs from impacting the development of innovative decentralized applications.
Umbrella has welcomed MetalCore into Umbrella’s Ecosystem Accelerator as the first blockchain-based gaming company, joining Sandstorm (metaverse) as our next accelerator project, with more to come.
The Umbrella Community Council has shown support and enthusiasm for this collaboration and has voted to approve Umbrella’s participation in the private token and NFT sale.
Umbrella Network To Integrate KuCoin’s Price Feeds
Umbrella Network announced that KuCoin has joined us as a data provider partner. This will help us diversify our price feeds while driving immense benefits to the KuCoin Community Chain ecosystem — a public chain project built by developers in the crypto exchange KuCoin community.
This partnership helps broaden the list of different sources from which data is received by the Umbrella Network’s decentralized oracle.
Umbrella Network Adds The Russell 2000 Data To Their Decentralized Oracles
The Russell 2000 index is a collection of 2000 American small-cap stocks listed on the London Stock Exchange. As layer-2 data, these 2000 data points, along with other thousands of data points, are processed and written on the blockchain as one singular transaction.
The addition of all 2000 data pairs of the Russell 2000 data is a testament to the scalability potential of Umbrella Network’s decentralized oracle.
Umbrella Network at The Avalanche Summit
Umbrella’s John Chen and Joel Bergeron attended the Avalanche Summit in Barcelona from March 22 -27 to discuss the latest data solutions and oracle innovations.
In addition to meeting each other IRL for the first time, the duo was able to meet many new dApp developers and engage with some of the world’s most exciting projects building on Avalanche including gaming, DeFi, NFTs, blockchain\Web3 infrastructure, and many more. They were also able to sign a partnership with Flagship in person, which was announced live from the conference.
Umbrella Network’s Partnerships
Umbrella Network Announced Partnership with Flagship
Flagship is a decentralized investment platform that enables users (both novice and experienced investors) to invest in a basket of investment opportunities.
Through this partnership, Flagship becomes more decentralized, more transparent, more resistant to price oracle attacks, and thus, more trust-able than the DeFi apps that simply source their data feeds from singular and/or centralized sources.
Umbrella Network Announced Partnership with Cryptovergelijken
Under the aegis of this partnership, Cryptovergelijken shall get the data for at least ten of their tracked feeds, not from centralized sources such a coingecko, but shall get authenticated, validated, and verified price feeds directly from the Blockchain for 10 of their most popular coins.
Umbrella Network makes available all that crypto-pricing data (and more) on-chain (serving as the authoritative source of truth). On the other hand, crypto-comparison websites such as Cryptovergelijken ensure that the price is ‘discovered’ by a large audience.
Umbrella Network Announces Partnership with Autobahn Network
BNB Chain already has one of the lowest transaction costs (GAS fees) and one of the fastest transaction times — in comparison to other Blockchains. Autobahn Network is building a Layer-2 Network on BNB Chain, based on Optimistic Rollup technology, to make transactions even faster and prices even cheaper!
This would make the DeFi dApps, GameFi projects, and NFTFi offerings on Autobahn Network safer from a data sourcing and resistance to price oracle attack standpoint. As early adopters of Passport, the Autobahn team will provide direct feedback about the solution for the Umbrella team to identify improvement areas.
Umbrella Network Announces Partnership with Akita Network
Umbrella Network is pleased to partner with Akita Network — as its fantastic journey from meme coin to DAO and beyond continues.
Umbrella Network, a decentralized oracle providing secure, validated data on multiple chains, and Akita Network, a sophisticated, community-powered project built around the once meme coin AKITA, will create a decentralized source of the pricing data of the Akita token and enable dApps to leverage this pricing data into their own smart contracts via a decentralized source.
Umbrella Network’s AMAs in March
Internal AMA w/ Umbrella Network’s Community Council
Umbrella Network’s Community Council, Keirran Lyons, Alex Shiny, Shak, and Qwerty, recently held an internal AMA on the main Umbrella Network Telegram channel to answer questions from the community.
So when I ran into Umbrella Network and started to understand what the team is trying to create, I realized this is a project being built for the long run. A legitimate project with great goals that will provide great value in this upcoming technology, bringing data on-chain. I have complete faith in the importance and success of our community-owned Oracle — Alex Shiny, Member Umbrella Network’s Community Council
Internal AMA w/ John Chen
Umbrella Network’s President, John Chen, recently held an internal AMA on the main Umbrella Network Telegram channel to answer questions from the community.
The tokenomics were planned way at the beginning of the project, and we’ve certainly learned a lot during the past year+. We’ve got a lot of great feedback from the community with respect to the rewards program and will look to implement a better solution, without having to change the high-level tokenomics of total rewards distributed to the community. But we have a few potential solutions moving forward that will hopefully make things a lot easier and better. — John Chen
Umbrella Network AMA w/Unmarshal
This week, Manohara K, CEO & Founder of Unmarshal was invited for an AMA on the Umbrella Network Telegram Channel to answer questions from the community.
We want more and more developers to venture into web3. We have a free subscription plan for anyone who wants to try it out. In fact we are planning to open up studios to help people navigate this space. We believe Unmarshal can help a lot from a tech point of view.
We love what Umbrella is doing. Both of us are practically data carriers helping people access data. We had some use cases where our partners wanted processed data to be sent to smart contracts, so we choose UMB to help us with it.
— Manohara K, Founder Unmarshal
Umbrella Network AMA w/ Michal Szachno of MoonieNFT
This week, Michal Szachno, MoonieNFT co-Founder was invited for an AMA on the Umbrella Network Telegram Channel to answer questions from the community.
As Moonchest price is denominated in dollars and the price of the underlying asset is constantly changing there is a need for such a feed to dynamically adjust the number of tokens being paid by users. We are very excited going forward with this partnership leading to a massive improvement in user experience in the Moonieverse using Umbrella Network!
— Michal Szachno, Co-Founder Moonie NFT
Umbrella Network AMA w/ChainWars Community
Umbrella Network’s President, John Chen, was recently invited for an AMA by the ChainWars community to answer questions from the community.
Right now, a lot of applications in DeFi need more information including financial data, applications in gaming are starting to grow but need solutions like randomness generation, and other markets like insurance, esports, as well as many other areas are just starting to evolve.
We want to be able to provide all of these projects with the critical data that they need, at scale, and at affordable costs so that they can innovate and build solutions to move the ecosystem forward.
— John Chen
Umbrella Network’s AMA w/ Sam Yao, Head of Operations at KCC
KCC’s Head of Operations, Sam Yao, was invited for an AMA on the Umbrella Network Telegram Channel to answer questions from the community.
“KCS is the native token of KCC, and the application scenarios of KCS will become more abundant as the KCC ecosystem develops. For example, with the rise of MojitoSwap and KuSwap, KCS can act as transaction gas fees on KCC. Using KCS for liquidity mining and staking further expands the usage scenarios of KCS and brings certain benefits to KCS holders, such as passive income.”
— Sam Yao
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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