With the rise of decentralized financial DeFi as the most popular field in the blockchain industry, the decentralized oracle connecting the DeFi world and the physical world has attracted much attention. By providing DeFi with a trustless data source, the oracle has become an important infrastructure in the DeFi world: price finder. However, along with the success of Chainlink, there are also doubts about its centralization. For the DeFi world named after decentralization, the market is looking forward to the emergence of a decentralized oracle that is easy to use.

Umbrella is a truly decentralized, scalable, and community-governed oracle built on Polkadot. Umbrella can safely, cheaply, and large-scale bring a wide range and diversified real-world data combination on the chain. To help further promote growth and innovation within the DeFi ecosystem.

According to official news recently, the BitMax exchange will launch Umbrella Network at 22:00 on March 10 and open UMB/USDT trading pairs.

What is Umbrella Network

The DeFi world needs secure and reliable data sources. However, various oracle solutions on the market currently have several types of problems: one is slow speed, low efficiency or high cost; the other is data security and timeliness. It is impossible to have both; in addition, most of the current oracles are centralized or partially centralized solutions, which to some extent violate the "initial intention" of DeFi decentralization.

The development team of Umbrella Network hopes to solve the above problems and provide the market with a decentralized oracle solution that is easy to use. Umbrella is Boca 's first decentralized oracle, external data can be a safety zone to the chain, the community needs to provide data services DeFi project size and safety "standards" of.

Advantages of Umbrella

Current oracle solutions require users to choose between data security and timeliness. Umbrella can provide data with both security and timeliness.

Umbrella will use multiple data sources to ensure that users will not be exposed to the risk of data manipulation at the source. Secondly, Umbrella also uses Delegated State Proof (DPOS), while providing economic incentives and suppression layers, which is similar to most current markets. The alternatives are different. In addition, Umbrella's 2-layer solution uses Merkle trees to aggregate data into a single transaction.

Other current oracle solutions deal with a single data set for each blockchain transaction, and therefore face the dilemma of slow speed and high price. Umbrella can provide low-cost data sources that can meet the needs of emerging blockchain solutions, providing medium and long-tail assets, options, indices, synthetic assets, and many other types of data that cannot be provided by other current solutions.

What is UMB

Umbrella's token UMB aims to encourage long-term Umbrella token holders, and users can get rewards by depositing UMB into the DPOS system. Rewards are issued through Umbrella's auxiliary token, rUMB, which can be exchanged with UMB, but can only be used after 1 year or after Umbrella's business reaches certain milestones.

Umbrella's token economics structurally favors long-term holders rather than short-term speculators. First, the public sale will only account for a small part of the overall assets. In addition, the core team's token distribution will be released in a linear manner within 4 years. Therefore, there will not be any large-scale unlocking in the initial stage. Finally, nearly two-thirds of the tokens will be allocated to Umbrella's community governors for a long time (including through public sale, validator funds, partner funds, etc.), hoping to find loyal users who match the team's vision.

Total circulation: 500,000,000 UMB

Circulation: 10,000,000 UMB

Initial issue price: $0.05

Token distribution

Public offering: 1%

Node/Validator Fund: 10%

Developer Partner Fund: 10%

Reward: 33%

Market: 5%

AMM: 1%

Private placement: 15%

Founding team: 10%

Development and operation: 10%

Later release: 5%

Token unlock

70% of the tokens need to be linearly unlocked for 4 years, while privately-sold tokens need to be linearly unlocked for 18 months.

Online details

Open deposit and withdrawal: March 10th at 10:00

Open for trading: March 10 at 22:00

Open trading market: UMB/USDT

About BitMax trading platform

BitMax (BTMX.io) is a digital asset trading platform built by Wall Street's senior quantitative trading team. It adheres to the three core values of efficiency, transparency, and stability, and is committed to providing a wide range of financial products and related services to institutional and individual customers.

As a trading platform with rich experience and professional strength, BitMax has successively selected high-quality projects such as LTO, ALGO and RUNE. The forward-looking value vision has not only won the strong pursuit of many users, but also made BitMax the first choice for many potential projects to go online.

Click on the link to register and purchase UMB, the handling fee can be reduced by 20%

https://m.btmx.io/zh-cn/register?inviteCode=APNRHZT2