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 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 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.