Umbrella Network, a scalable and community-owned oracle for the DeFi and blockchain community, has officially partnered with IX Swap to revolutionize the security token industry.
Umbrella Network’s decentralized oracles can add new data points effortlessly, and in this case, unique data points, due to its Merkle tree architecture that enables batching of large sets of data before commitment to the blockchain.
Additionally, every data point on the Umbrella Network is tagged with proof of consensus which ensures the reliability of data even after data retrieval by dApps and other such innovative DeFi solutions like IX Swap.
Under the aegis of this partnership, Umbrella Network’s decentralized oracles will provide real-world asset data to IX Swap’s liquidity pools and AMMs. This may include stock prices, S&P 500 indices, options data, and more.
Additionally, Umbrella Network and IX Swap will work together towards the development of a custom data feed for private asset data.
This would be a first-of-its-kind data feed, even in the traditional financial ecosystem.
A private asset data feed is one that contains assets that are not publicly traded. Such data may include pricing data on shareholding patterns of unlisted companies, their paid-up capital, AGM notes, and more.
This would be immensely beneficial for things such as cross-border mergers and acquisitions, among others, as authoritative data on unlisted companies becomes a chore to fetch and authenticate in the current financial ecosystem.
Security tokens and tokenized stocks of private assets are largely considered illiquid, not because of the absence of demand, but because of the absence of reliable data regarding capital, compliance, and other factors.
Sam Kim, the founding partner at Umbrella Network, commented:
“We at Umbrella Network are genuinely excited about this partnership with IX Swap as we look forward to the development of the world’s first private assets pricing feed. It will be a major step in bringing together CeFi and DeFi as we empower IX Swap with dynamic and real-time price feeds to be a global liquidity solution for all STO Exchanges.”
Julian Kwan, IX Swap’s founding partner, also commented:
“We are thrilled to integrate Umbrella’s scalable oracles into IX Swap’s sophisticated suite of liquidity pool and automated market makers for Security Tokens. I’ve been focused on STOs since 2017 and believe this is one of the biggest opportunities in the world today. I’m glad to be able to work with Umbrella’s innovative and scalable oracle solutions to be able to support some of our newer initiatives within the blockchain space.”
Umbrella Network fills this gap for IX Swap and enables the offering of an entirely new product that is not available and very limited even in the world of traditional finance. This partnership also marks the point where DeFi innovations have outgrown the possibilities offered by traditional finance and are now becoming truly unique offerings.
About Umbrella Network
Umbrella Network is a scalable, cost-efficient, and community-owned oracle for the DeFi and blockchain community. Its Layer 2 technology uses the latest advances in Merkle tree technology to write multiple data points on a single on-chain transaction, allowing for the batching of data to smart contracts accurately, securely, and inexpensively.
Umbrella believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system.
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About IX Swap
IX Swap is the “Uniswap” for STOs and TSOs, the regulatory and liquidity solution for security tokens and tokenized stocks.
IX Swap will be the FIRST platform to provide liquidity pools and automated market-making functions for the STO/TSO industry. The platform will facilitate the trading of security tokens through licensed custodians and security brokers, which will provide actual ownership and claim over these real-world assets.