Umbrella Network (UMB) is making waves in the blockchain and Decentralized Finance (DeFi) space. The top-notch, Layer 2, oracle platform has been described by many as being quite similar to Chainlink due to its reliable price feeds.
Excitement around Umbrella Network (UMB) and its community-owned, reliable oracle is on the rise. In line with this, the platform has further expanded its reach with three new recent strategic partnerships. The decentralized finance (DeFi) oracle platform has strategically partnered with WOWswap, VAIOT, and OpenDeFi.
Umbrella Network | WOWswap – Improved Leverage Trading
UMB has secured a partnership with the PancakeSwap-based, decentralized, leverage trading protocol, WOWswap, which will facilitate the buying and selling of tokens on the protocol. WOWSwap makes it possible for its community members to trade their favorite tokens with up to 5x leverage. Liquidity providers LPs will also earn interest when they supply BNB to the lending pool. Thanks to the partnership, Umbrella network will now be able to provide leveraged trading protocol with accurate and reliable price feeds.
Founding partner of Umbrella Network, Sam Kim spoke highly of the partnership with WOWswap. In his own words, he revealed that the entire UMB ecosystem was “[…] thrilled to announce our partnership with WOWswap”. Kim added that Umbrella Network will continue to support the leveraged trading protocol even as it “[…]expands their token swapping options and capabilities.”
🎉#BSCMonth continues with another partnership!🎉
— Umbrella Network (@UmbNetwork) May 17, 2021
Umbrella Network and VAIOT Partnership
The DeFi oracle protocol has also partnered with blockchain-based virtual AI platform VAIOT. VAIOT is well known for providing businesses and consumers with cost-effective, seamless, faster, and easier automated transaction services. The partnership with Umbrella network will facilitate the introduction of VAIOT token to Umbrella price data record. Umbrella will also provide the virtual AI platform with customized data feeds for its off-chain data needs.
Co-founder of VAIOT, Michal Szafron revealed that the entire VAIOT team was looking forward to working with Umbrella network. Adding that even as the virtual AI ecosystem expands, “[…] Umbrella is well-positioned to be able to support our growth development as we join forces to continue innovations within the blockchain industry.”
🎉#BSCMonth continues with another collaboration🎉
— Umbrella Network (@UmbNetwork) May 20, 2021
Umbrella Network and OpenDeFi Strategic Partnership
Popular tokenizing platform, OpenDeFi, has also enlisted the support of Umbrella Network and its cost-effective, reliable, and accurate price feeds. OpenDeFi is focused on providing the conventional finance space with access to the world of DeFi. To do this, it first tokenizes real-world assets and then creates DeFi services using these assets. The partnership will provide OpenDeFi with secure and reliable access to data price feeds both on the blockchain and also for real-world assets. All this will be carried out in a cost-efficient, and scalable way as compared to any other data oracle platform available today.
Umbrella Founding partner, Sam Kim disclosed that UMB is “[…] thrilled to be partnering with OpenDeFi who are at the forefront of building an ecosystem for DeFi projects.”
Mohit Madan, CEO of OpenDeFi, also spoke highly of the partnership with Umbrella Network. Adding that having partners like UMB will help fulfil its vision of bridging the gap between the traditional finance space and DeFi. Therefore, providing institutional money with access to participating in the DeFi space.
🎉#BSCMonth continues with another collaboration🎉
— Umbrella Network (@UmbNetwork) May 18, 2021
About Umbrella Network (UMB)
Umbrella Network is well-known as a community-owned, scalable oracle for blockchain technology and DeFi. The Layer 2, DeFi oracle platform makes use of the Merkle tree technology to facilitate the provision of cost-efficient, scalable, and reliable price oracles. UMB also operates by facilitating the secure and accurate processing of transactions in batches. The DeFI oracle platform is also focused on ensuring the DeFi space is truly decentralized.
At the time of publication, UMB was trading at $0.233605, with a market cap of $11,387,845 and also a 24-hour trading volume of $1,022,234.
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