.jpg)
Umbrella Network (https://www.umb.network/), the decentralized Layer-2 oracle solution, announced today, a partnership with IX Swap, the world's first DeFi platform that offers Automated Market Making (AMM) & Liquidity Pools for Security Tokens and tokenized stocks.
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 marks the first-of-its-kind data feed to be used across both traditional and crypto financial ecosystems.
"We at Umbrella Network are genuinely excited about this partnership with IXSwap as we look forward to the development of the world's first Private Assets Pricing Feed,” said Sam Kim, the founding partner at Umbrella Network. “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."
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. Umbrella Network's decentralized oracles 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.
"We are thrilled to integrate Umbrella's scalable oracles into IXSwap's sophisticated suite of Liquidity Pool and Automated Market Makers for Security Tokens,” said Julian Kwan, Founding Partner of IX Swap. “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."
In addition to becoming the sole data provider for IX Swap. The two will also be joining forces to develop a private asset data feed that contains assets that are not publicly traded. Such data will include pricing data on shareholding patterns of unlisted companies, their paid-up capital, AGM notes, and more. This first-of-its-kind data feed will 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. Umbrella Network plans to solve this problem by bringing real-time price private data feeds to the IX Swap platform.
To learn more about Umbrella Network please visit: https://www.umb.network/
