/biz/ - Business & Finance

//Umb Network// Layer 2 Oracles

umb.network
https://www.coingecko.com/en/coins/umbrella-network#markets


>What Is Umbrella Network?

A new oracle that is built upon layer 2 which enables a massive amount of data to be provided in a single eth transaction.

>What is their Vision?

To build a decentralized network invulnerable to influence, manipulation, or attack; where the cost of validating data doesn’t prohibit high volume scalability; that is owned by a community who retains governance over the network while early contributors are still rewarded for their efforts.

>Why?

Limitations on what data is available for application developers and how often that data is refreshed restricts what DeFi application developers can do. Furthermore, the fact that the data used to settle contracts, rebalance collateral, close existing positions, and more is controlled by a VERY centralized party has to give us all pause for concern.

>Price thoughts,

ICO price.
$ 0.05
(+3913.2%)

Hard Cap
$ 250,000 - Maxed

Currently around $2. Significant increase s/p ICO but this is the bull market trend we are seeing. Look at the recent bsc drops. Price has been rock solid around $2 for the past week. There's always the risk that early buyers dump on you, though.

>Staking

Staking went live yesterday. Very generous rewards in rUmb, which can be redeemed 1:1 for UMB in the future. There is a series of vesting strategies within the Umb tokenomics: https://medium.com/umbrella-network/an-update-on-umbrella-networks-umb-tokenomics-b81030bd699e


I like it. This is a legit project and the only concern I can see is the ICO return. But there was also a $250k cap there so it's not too bad. About a 11m circ supply right now, 4 year linear vest.

Bring the FUD you fucking idiots. I wanna hear it