Umbrella Network is excited to announce a partnership with IX Swap, the world’s first DeFi platform that offers Automated Market Making (AMM) & Liquidity Pools for Security Tokens and tokenized stocks.
Under the aegis of this partnership, Umbrella Network’s decentralized oracles will provide real-world asset data to IX Swap’s Liquidity Pools and AMMs. This may include stock prices, S&P 500 indices, Options data, and more. Additionally, Umbrella Network and IX Swap will work together towards the development of a custom data feed for private asset data.
This would be a first-of-its-kind data feed, even in the traditional financial ecosystem.
A private asset data feed is one that contains assets that are not publicly traded. Such data may include pricing data on shareholding patterns of unlisted companies, their paid up capital, AGM notes, and more.
This would be immensely beneficial for things such as cross-border mergers and acquisitions, among others, as authoritative data on unlisted companies becomes a chore to fetch and authenticate in the current financial ecosystem.
Umbrella Network’s decentralized oracles can add new datapoints effortlessly, and in this case, unique datapoints, due to its Merkle tree architecture that enables batching of large sets of data before commitment to the Blockchain.
Additionally, every datapoint on the Umbrella Network is tagged with proof of consensus which ensures the reliability of data even after data retrieval by dApps and other such innovative DeFi solutions like IX Swap.
Security Tokens and tokenized stocks of private assets are largely considered illiquid not because of absence of demand but because of the absence of reliable data regarding capital, compliance, and other factors.
Umbrella Network fills this gap for IX Swap and enables the offering of an entirely new product that is not available, and very limited even in the world of traditional finance.
This partnership also marks the point where DeFi innovations have outgrown the possibilities offered by traditional finance and are now becoming truly unique offerings.
Sam Kim, the founding partner at Umbrella Network said –
“We at Umbrella Network are genuinely excited about this partnership with IXSwap as we look forward to the development of the world’s first Private Assets Pricing Feed. It will be a major step in bringing together CeFi and DeFi as we empower IX Swap with dynamic and real-time price feeds to be a global Liquidity Solution for all STO Exchanges.”
IX Swap’s founding partner, Julian Kwan, speaking on the partnership said –
“We are thrilled to integrate Umbrella’s scalable oracles into IXSwap’s sophisticated suite of Liquidity Pool and Automated Market Makers for Security Tokens. I’ve been focused on STOs since 2017 and believe this is one of the biggest opportunities in the world today. I’m glad to be able to work with Umbrella’s innovative and scalable oracle solutions to be able to support some of our newer initiatives within the blockchain space.”
As we seek to create a paradigm shift for the STO ecosystem on DeFi, and to revolutionize the STO/TSO industry globally.”
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, allowing for the batching of data to smart contracts accurately, securely, and inexpensively.
About IX Swap
IX Swap is the world’s first Decentralized Finance Exchange for Security Tokens and Tokenized Stocks. With its Liquidity Pools and AMMs, IX Swap seeks to incentivize STO holders on liquidating and staking their assets in the form of its native currency IXS. It also features the Sun and the Moon vaults as a deflationary measure. IX Swap assigns 5% of the total fees contributed to the pool to the vaults as an Impermanent Loss Insurance.