Kyros Ventures is pleased to announce our collaboration with Umbrella Network, a community-owned Layer 2 Oracle solution for the DeFi market. Kyros Ventures will walk alongside this potential project as an investor and ambassador to the Vietnamese market.
One of the biggest challenges that DeFi is facing in the industry is the users’ ability to receive real-time derivative information, including metrics on implied volatility and realized volatility. Without accurate data on-chain, many existing use cases couldn’t exist, and future use cases would be impossible. Thus, empowering blockchains with off-chain data is essential for building a new ecosystem of decentralized finance applications.
Umbrella Network’s vision heads towards a more scalable, community-owned Oracle, which is not only possible but essential to creating a truly decentralized financial system. Umbrella uses Layer 2 technology to make it scalable while implementing Delegated Proof of Stake to ensure participants are economically incentivized to validate data accurately.
Furthermore, Kyros Ventures highly appreciate Umbrella’s new approach in its ecosystem. Not all blockchain is willing to place the control into the hands of the community, allowing stakers, developers, and validators to govern how the network operates. The community will own a majority of UMB tokens and will elect nodes to serve as representative governing bodies over the Oracle service.
Investing in Umbrella Network means investing in the future of DeFi access with a broad array of secure & up-to-date crypto asset data. Thus, Kyros Ventures is happy to be the gate between Umbrella’s oracle and Vietnam’s crypto adoption. We look forward to this new ecosystem where the community will be the key factor to determine the success of the project.
About Kyros Ventures
Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.
For further information, please visit: https://blog.kyros.ventures
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, so it allows for batching 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.
Stay ahead of our latest updates. Follow Umbrella on http://umb.network