Announcing Orion — Umee Is Building a Decentralized Price Oracle Native to Cosmos!
TLDR
Umee is excited to create the first decentralized IBC oracle for the Cosmos ecosystem.
What’s A Price Oracle?
A price oracle is a tool which allows apps to accurately determine the price of an asset at any given time. Price oracles are a key component of every DeFi application since they help connect the off-chain and on-chain data and information, and provide protocols with the accurate price feeds they need to function as intended.
What Is Orion?
Currently there is a lack of a decentralized price oracle native to the Cosmos ecosystem.
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About Umee
Umee is a cross chain DeFi hub that interconnects between blockchains. As a base layer blockchain, applications and money lego primitives can be built on top of Umee to access cross chain leverage and liquidity. The Umee Blockchain facilitates interoperability between the Cosmos ecosystem, Ethereum network, side chain architectures, layer two scaling solutions, and alternative base layer protocols.
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