Umbrella Network Adds UNO-USD Pricing Data To Their Decentralized Oracle

Umbrella Network and Uno Re have been partners for quite some time now. Uno Re is the underwriting entity behind the insurance provided to the entirety of the Umbrella Network Staking Pools — the Polar Stream and the Hadley Stream, to the tune of $1.5M dollars.

Today, Umbrella is deepening that partnership by adding the UNO-USD pricing data as L2D, to our decentralized oracle.

Additionally, Uno Re shall begin using Umbrella’s decentralized oracles to fetch the pricing data for all their underwriting requirements. This adds another major DeFi player to the growing list of dApps/ecosystems that utilize the Umbrella Network as the ‘source of truth’ for all their pricing data needs.

Umbrella Network, the largest decentralized oracle by transaction volume, offers:

• Data pairs (1600+ data pairs supported)
• Cheaper access to data (via batch-processing of data)
• Wider access across multiple Blockchains
• Comprehensive coverage beyond just pricing data
• End-to-End data integrity (by appending Merkle Proofs)

“We’re really excited to deepen our ties with our partner, Uno Re. They’ve been instrumental in ensuring that those staking UMB sleep easier with the knowledge that the entire UMB staking pool is insured. Today, I’m happy to announce that we’re returning the favor to Uno Re users via our decentralized, tamper-resistant, and wider-coverage data feed.”—  John Chen, President at Umbrella Network

ABOUT Uno Re
Uno Re is the world’s first decentralized insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world.

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ABOUT Umbrella Network
Umbrella Network is a scalable, decentralized, and community-owned oracle that utilizes Layer 2 technology to integrate real-time data into smart contracts for accurate and timely reports. Umbrella Network brings the world’s data to blockchains to enable DeFi applications to perform at the optimum level regarding precise information dissemination. It believes a decentralized oracle is paramount to creating a truly decentralized financial space.

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RESOURCES
Medium