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28783625 No.28783625 [Reply] [Original]

/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.

>> No.28783857

Wow, a well written post on 4chan?? Miracles do happen!

Keep up the good work - UMB staking is going to be insane

>> No.28784516

>>28783625
Fuuuuuck does should I swing Rubic to this?

>> No.28784689

>>28784516

eh, I don't know a ton about rubic. Looks like a decent project, but it's a ways out and has had it's spotlight for a bit. I see more upside with umb and the staking APY

>> No.28784859

>>28783625
>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.

There was only 5 million coins sold in the IDO right?

Or was there more?
I saw some wallet already dumped.

please answer

>> No.28784974

>>28784859
$200k USD. It wasn't a lot.

Some people dumped sure, but if you've been watching the buying pressure over the last few days you'd see that their tokens are getting eaten up. We only aren't mooning because there is people taking profits.

We are legit in a beautiful consolidation right now.

>> No.28785033

>>28784974
I asked about UMB amount not USD amount

>> No.28785121

>>28785033

4m. Theres 11m circulating rn.

>> No.28785198

>>28785121
Okey

>> No.28785235

good time to accumulate

price won't be this low in a few weeks

>> No.28785273
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28785273

UMB is comfy. get a bag and stake with us starting today

>> No.28785276

>>28785121
Wonder where the rest 7 million came from...

>> No.28785337

>>28785276
you could try reading the white paper on their website.

>> No.28785356

>>28785276

I think it's general liquidity. The team provided uniswap with a bunch of liquidity

>> No.28785447

>>28785273

Yeah I think people are focused on the moonshot potential, but man the staking is where it's at. They also are locking up staking rewards so it's great for the price.

You just have to do the math on this