Umbrella Network Monthly Recap: November Edition
November brought early gifts for the $UMB community and paves the road for more wins to come out in December so that we end the year with a bang!
From getting listed on new exchanges and doing AMAs with the crypto-community to new launches, the $UMB community did it all, and then some.
Here’s a recap in case you missed it
But first, did you know that…
Umbrella Network turned 1 in November
We decided to make a highlight reel to showcase how far we’ve come since we embarked on this journey with you.
While we look back nostalgically on our journey, we thought why not apprise the community on how it started and how it is going, 25+ AMAs and 50+ partnerships later.
Umbrella Network Announcements in November
$UMB Block Explorer adds 0xPolygon data feeds
The newly painted and updated Umbrella Network Block Explorer now has an entire section dedicated to 0xPolygon. Check them out here.
This shows our commitment towards emerging blockchains as we ensure that the faster, cheaper, more reliable, and more frequently updated data from our decentralized oracles are available for direct integration into smart contracts.
All of $UMB data feeds are free to use and we invite dApp developers to give it a try. Read the documentation here.
Umbrella Network’s Hadley Stream Surpasses 50M in $UMB staked
$UMB allows staking as single-side (Hadley stream) and as a pair to ETH (Polar Stream)
We would also like to reiterate that $UMB staking on both Polar and Hadley streams is coming to the BSC network soon, too!
Stay tuned for more updates.
$500k Insurance Coverage for Umbrella Network’s Token Bridge
Umbrella Network’s Token Bridge enables users to transfer their $UMB tokens to and from the ETH and BSC chains to make your $UMB tokens truly interoperable — without any dependence on third-party bridges.
With our partnership with Uno Re and Cover Compared, your transfers of $UMB across these two chains, are insured!
Talk about security via decentralization and doubling it with an active cover. That’s Umbrella Network for you.
Here’s a step-by-step tutorial for transferring your $UMB across ETH and BSC chains:
Umbrella Network is GOING LIVE on AVALANCHE any day now!
Becoming the 4th chain to be natively supported by Umbrella Network is Avalanche — the fastest proof of finality blockchain in the world.
This integration would be a shot in the arm for Avalanche dApp devs and the wider Avalanche DeFi ecosystem as our decentralized data feeds would be available for all in the Avalanche ecosystem to leverage and help bolster the wider DeFi world.
Distribution Complete — 100% Bonus to $UMB HODLers on Binance Smart Chain
Just like clockwork, Umbrella Network completed the distribution of $UMB tokens those HODLers that were stranded on the BSC network following a third-party exploit. We thank the community for their patience.
Updates on Roadmap Timelines
- Uniswap DEX Integration to go live next week
- Random Number Generator to go live next week
- Umbrella Network TableTalks Episode 4 to be held next week
- Pancakeswap DEX Integration to go live by mid-December
- Hadley and Polar Streams’staking on BSC to arrive by mid-December
Questions from the $UMB community
Q 1: What is the role of Umbrella Network in Metalcore?
We will be releasing a medium post next week that will go into depth on why Umbrella is collaborating on the MetalCore project. Just like how we acquired Lucidity to get into the enterprise market. We are working on MetalCore to enter GameFi. We will now have first-hand access to see how blockchain games need to process, manage and use data. what types of data will be produced, how it will be used, etc. All of this can be productized by Umbrella in the future and will provide us with inumerable benefits as this segment of the market continues to grow and evolve. Umbrella is looking to be a key player on the data side for blockchain gaming in the future. This is our initial step towards that goal.
— John Chen, President at Umbrella Network
Q 2: What is the rationale behind focusing development efforts on Random Number Generator?
Random Number Generators are a critical element for a lot of different needs, particularly in blockchain-based gaming. You need randomness for supporting things like fighting between parties (i.e. damage taken), offering random items in things like loot boxes, for doing things like generating random attributes for NFTs, etc. there are many, many critical uses for randomness.
— John Chen, President at Umbrella Network
4 AMAs with Umbrella Network were held in November
Umbrella Network AMA with Kucoin
What makes Umbrella different from others, like I briefly mentioned before, is our ability to aggregate data via a Layer-2 solution using Merkle trees. This allows us to bring thousands of data points, even hundreds of thousands of data points, to the blockchain in a single transaction, while the other oracles only bring one data point per transaction.
— John Chen, President at Umbrella Network
Umbrella Network AMA with Poloniex
it’s not just crypto price pairs or even financial data that we can bring on-chain. If there is an API in the real world, chances are we can bring that data on-chain. So it could be real-time weather, sports stats, insurance info, real estate pricing, personal health insurance, eCommerce data, you name it. The types of data we can bring on-chain are virtually unlimited.
— John Chen, President at Umbrella Network
Umbrella Network AMA with SpykeFast
By Q1 of next year, we will be transitioning to delegated proof of stake consensus with our validator network, so token holders will then be able to stake their tokens with their validator of choice, and receive a share of the data usage fees from applications utilizing our oracles.
— John Chen, President at Umbrella Network
Umbrella Network AMA with Crypto Stalkers
For our project’s development, we currently have a Community Council that helps with overseeing our community ambassador program and will be critical to various governance functions for the project. Even our acquisition of Lucidity had to be voted on 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
Umbrella Network’s Media Mentions Since Last Recap
- Umbrella Network on Forbes.com
- Umbrella Network on Cointelegraph.com
- Umbrella Network on Investing.com
- Umbrella Network on newsBTC.com
- Umbrella Network on invezz.com
- Umbrella Network on Altcoinbuzz.io
- Umbrella Network on AMBCrypto.com
- Umbrella Network on CoinRivet.com
- Umbrella Network on BlockTribune.com
- Umbrella Network on CrowdFundInsider.com
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Until next time,
Umbrella Network Marketing Team.
