Welcome to MOONVEMBER!!!
It’s Moonvember because, in crypto seasons, this is the month where some low cap viable projects moon (increase in value) exponentially.
In the past I’ve talked about oracles and their importance and also done a brief review on the Umbrella Network, check it out in this video.
Have you seen our 7 THINGS WITH BLOCKCHAIN VIDEO?
In this video, we talked about 7 things you can do with Blockchain Technology, and No.3 was Decentralized Oracles.
And we’d be talking about the milestones of a certain cross-chain decentralized community-owned oracle — Umbrella Network.
UMBRELLA NETWORK OCTOBER 2021 IN REVIEW
Umbrella Network started the month of October with its launch on Ethereum Network, which is a major milestone reached considering that Ethereum Network has more dApps than most chains. You can view the data activity here, this means that projects on the Ethereum Network needing decentralized oracle service can be fed by Umbrella Network, decentralized applications on Ethereum /network can communicate with Umbrella code.
The table talk was hosted by the Founding Partner Sam Kim and President of the Umbrella Network–John Chen as well as other team members. Discussions were made on productive events happening in the Umbrella Network you can watch the video below.
Armor Finance is a leading DeFi insurance coverage aggregator built on the Ethereum Network that allows DeFI users to protect funds on DeFi protocols on the Ethereum Chain.
Umbrella Network partnered with them to provide decentralized oracle service to add and update data sets and data points more frequently at a low cost.
Umbrella Network shows that oracle services can be effective without being expensive, they bring efficiency and effectiveness to oracle service.
Umbrella Network gets mentioned on Crypto Crunch App as the 3rd most trended crypto for the month of October 2021.
The President of Umbrella Network was featured on Kucoin’s AMA you can read the recap here, that AMA featured a whopping 4,500 $UMB Token Giveaway.
We all know the fee issues on Ethereum Chain, and how simple DeFi activities like staking, liquidity providing, and earning with the $UMB token on Ethereum based Dapps can be expensive. So the launch of this bridge means more activity will come to $UMB token through BSC Network, a less expensive chain.
I did a tutorial on how to use the Bridge, watch the video here.
Last month was Kucoin Exchange and just a month later, it’s Poloneix Exchange, will this month be Binance? The Poloneix listing came with a 35,000 $UMB prize pool to incentivize trading and a 300% APY for HODLers. This means more funds will flow into the $UMB token increasing the market cap and increasing the $UMB token value.
One of the ways to expand the community is through AMAs, and Umbrella Network as much as they increase productivity in technical developments, they do the same in community developments.
Looks matter! Check out the new look of the UMB Explorer.
This is a big milestone reached by the Umbrella Network and also an opportunity created in the DeFi market by bringing options trading to the DeFi market. Read more about it in the heading or click here to get to the Twitter post.
Here’s a quote from the UMB TEAM on the importance of the conversion “The UMB token serves as the lifeblood of Umbrella Network’s decentralized oracles and is used to stake and validate data. UMBs are exchange tradable cryptocurrencies that are currently available as ERC20 and BEP20 variants across multiple centralized and decentralized exchanges including KuCoin, Poloniex, Uniswap, Pancakeswap, and others.”
25th October had Umbrella at 30.74% increase on Ascendex Exchange.
Umbrella started the Month of October with its launch on Ethereum Mainnet, and the team ended October with its launch on Polygon Network.
This is the 3rd Chain that Umbrella has extended its reach to. Umbrella will be feeding data to NFT, DeFi, Gaming, and more dApps built on Polygon Neywork.