Umbrella Network Partnership with Synapse Network
Investment platforms such as Synapse Network require frequently updated and verifiably authentic data that other oracles simply cannot offer. Umbrella Network, on the other hand, mints a new block every minute (on BSC and Polygon) ensuring that the most updated price is always available to our partner dApps
This enables dApps that require the SNP-USD pricing data to call that data securely, cheaply, and extremely fast, not to mention, fresh
All of these and more enables the dApps that use the SNP-USD pricing feeds (such as the components within the Synapse Network and their partners) to:
- Source pricing feeds that are always updated
- Access data at a low cost and pass those saving to their users
- Mitigate the risks of price-oracle attacks
- Ensure the authenticity of data via Merkle Proofs embedded in Umbrella Network’s data points
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.
Synapse Network
Synapse Network is a comprehensive cross-chain investment ecosystem with its presence in both the blockchain and traditional market. Its ecosystem includes a launchpad, cross-chain DEX, DeFi Marketplace, VC Syndicate, and Incubator. By allowing multi-connectivity exchanges and multi-chain interactions on a single platform, Synapse wants to build a fully free and decentralized market.
