Umbrella partners with three BSC-based DeFi projects ahead of mainnet launch
After launching its Binance Smart Chain (BSC) Month campaign last week, Umbrella Network, a community-owned and decentralized oracle solution, is announcing three new partnerships with DeFi projects aiming to scale. The network’s new partnerships include projects BSC Station, Oction, and 8pay, which continue to strengthen Umbrella’s position as an early mover and the standard for oracles on BSC.
BSC Station is building a full-stack decentralized finance application including NFT auction capability, DEX features, and wallet functionality on the Binance Smart Chain. Umbrella will provide a comprehensive mix of price feed data to support all of the various components of BSC Station’s platform. Umbrella will offer them a targeted set of critical key pairs, and potentially more as they expand their offerings in the future.
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Oction is a project which allows for options trading through a democratic framework on the BSC without market manipulation. Oction will leverage Umbrella’s decentralized price feeds to provide efficient and accurate prices to the CeDeFi options trading platform. Umbrella’s feeds, including prices for major pairs and mid-cap coins, options data, and other calculated metrics such as Implied Volatility will help Oction more efficiently price options.
8pay is a DeFi platform for automatic, trustless cryptocurrency payments. Umbrella will provide frequently updated pricing feeds to 8pay’s roster of supported token payment options, currently including BNB, several BPE-20 tokens as well as several stablecoins.
“As we continue our BSC Month push, we could not be more pleased to add BSC Station, Oction, and 8pay to the robust group of partners helping to build a truly decentralized oracle solution that supports all decentralized applications,” said Umbrella Founding Partner, Sam Kim.
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These partnership announcements closely follow a slew of key developments for the Umbrella Network: Its successful IDO (Initial Dex Offering), the launch of its public testnet, and its migration to the Binance Smart Chain underlying technology. Following these crucial events, The Umbrella Network has finalized key partnerships with many important players in the space to increase its off-chain data offerings and showcase the usability of these offerings for any DeFi project.
Umbrella has proven to be particularly beneficial to the DeFi ecosystem, connecting blockchain applications to data from the off-chain world in a uniquely secure and efficient way. Umbrella Network’s Merkle Tree based architecture results in more, faster transactions at a lower cost than alternatives, making it one of the most scalable oracle solutions known to date.
