We are thrilled to announce that we have partnered with Umbrella Network, following the announcement of UniFarm Cohort 7, in which $UFARM was available to be staked for the first time.
Umbrella is an oracle service provider that is fully decentralized. It offers low-cost oracle services for smart contracts that are enormously scalable and extremely secure.
How Will This Partnership Work?
UniFarm and Umbrella Network will collaborate on various fronts as a result of this strategic alliance.
UniFarm will use Umbrella’s oracles to obtain secure and accurate price feeds for UniFarm tokens.
Umbrella is also part of UniFarm Cohort 7, where its token can be staked on Binance Smart Chain, as a result of this partnership. Users can stake $UMB and farm $ORO, $UFARM, $UDO, and $COOK in addition to $UMB. This gives the entire Umbrella community a lot of flexibility when it comes to parking funds.
“We are delighted to announce our partnership with UniFarm and to be able to provide them with secure, accurate price feeds to support all of the tokens on their platform. Additionally, we look forward to joining their latest decentralized farming pool, Cohort 7, alongside other like-minded projects to offer a more unique and attractive staking experience for users,” said Sam Kim, Founding Partner of Umbrella Network.
In UniFarm Cohort 7, we’ve brought together the best projects to form a farming pool that will last 180 days while offering a maximum of 250% APY.
“We are thrilled to announce our partnership with Umbrella Network, and warmly welcome them into our latest Cohort 7 staking program and into our community. We look forward to working with Umbrella across both our token farming programs, as well as through the use of their innovative oracle solution,” said Mohit Madan, CEO of UniFarm.
Umbrella Network is a community-owned decentralized oracle service that provides blockchain applications with secure, low-cost, and massively scalable data solutions.
The $UMB token, which helps secure the network and is used by the community to stake, vote on key representatives, and earn incentives and user fees, is at the heart of the Umbrella Network. Umbrella uses a layer 2 solution and Merkle trees for batching transactions to tackle the scalability problem in Oracle.
UniFarm is one of a kind staking solution where the best projects in DeFi space come together to provide value to investors. UniFarm allows you to stake one token but earn multiple high-value tokens, so in addition to a great APY, your returns are automatically diversified as well. Powered by OroPocket.