Umbrella Network Joins Forces With OIN Finance
Umbrella Network’s community-owned oracle technology is gaining a valuable DeFi partner in OIN Finance.
OIN is a major staking and stablecoin provider. It brings robust DeFi functionality to crypto projects large and small, like the ability to issue their own stablecoins. Its technology is already in play with Bitmax and Uniswap. It even has an associated decentralized autonomous organization called OINDAO, like a MakerDAO that’s specifically designed to work with altcoins.
A platform of this variety obviously needs a robust, reliable price feed. Umbrella will provide OIN with scalable oracle infrastructure that securely delivers price data on altcoins and other mid-market crypto assets that flow through its platform. OIN gains enhanced certainty on the price of digital assets, and Umbrella gains another compelling use case.
“There’s no shortage of oracle providers out there, but Umbrella Network’s solution is incredibly compelling for us,” said Richie Li, co-founder of OIN. “It can operate at a significant scale and provides certain mid tail data sets that were previously unavailable. As our OINDAO grows in number of tokens offered, we need a reliable partner to support us in our mission to bring DeFi functionality to every project.”
“We’re glad OIN sees the value in what we’re developing. Umbrella Network presents some compelling advantages over what’s currently available in the market,” said Sam Kim, founding partner of Umbrella Network. “Our fundamentals are strong, our community is growing, and we’re continuing to gain more momentum. And it’s great to partner with other like-minded projects like OIN as we work together to help spur further growth in DeFi.”
About Umbrella Network
Umbrella Network is a scalable, cost-efficient, and community-owned oracle for the DeFi and blockchain community. Its Layer 2 technology uses the latest advances in Merkle tree technology to write multiple data points on a single on-chain transaction, so it allows for batching data to smart contracts accurately, securely, and inexpensively. Umbrella believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system.
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For any inquiries, please contact us at marketing@umb.network
About OIN
OIN is a stablecoin issuance platform that uses its multifaceted infrastructure to bring great Decentralized Finance functionality for various blockchain projects. It has a unique and versatile blockchain infrastructure that provides one-of-a-kind DeFi functionality to small and large-scale blockchain projects.
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