/biz/ - Business & Finance

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>>28792610

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/UMBRELLA NETWORK//

Website: https://www.umb.network/

DexTools: https://www.dextools.io/app/uniswap/pair-explorer/0xb1bbeea2da2905e6b0a30203aef55c399c53d042

Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0x6fc13eace26590b80cccab1ba5d51890577d83b2
>Why UMB?

Most oracles are layer 1, about every oracle, in short, oracles today require you to choose between security of the data vs liveliness / freshness of the data. This is one of the reasons we see projects use alternative oracles like Coinbase Pro and Curve which proved to be susceptible to the flash loan + oracle manipulation exploit that's happened to projects like Compound and Harvest Finance. With Umbrella, you can have both. Because our cost to write data is so cheap, the team can update our prices more frequently without sacrificing security of the data.

> Blockchain?

UMB will ultimately support all the major chains. And they are actively speaking with many of them including polkadot, cardano, solana, binance and more. But today they are a side chain running on top of Ethereum.

>TLDR Tokenomics

Staking is starting tomorrow. Set amount of rewards a day provided to the locked up tokens, so earlier the better. Staking rewards are also essentially locked to prevent too much supply. You receive rUMB which can be exchanged to UMB later. Currently 11m circ supply. The rest of the tokens are locked up for 4 years with a linear vest - no large planned token releases like some other projects.

>MY OPINIONS

I took a small position the other day after seeing the buying pressure s/p IDO. There has been significant gains for those in the initial offering, but the price has been very strong around $2. Check dex tools to confirm and check the swaps to confirm buying pressure. I think it's pretty clear staking will only produce positive price action, this starts tomorrow. But the risk from initial coin purchasers IS present.