Known for its highly efficient, scalable and reliable oracle services dedicated to DeFi and Blockchain firms, Umbrella Networks has entered into a strategic partnership with Genesis Volatility, a renowned analytics portal for crypto options trading.
With this collaboration, the Umbrella Network will be able to have seamless access to quality data related to various options and derivatives that aids decision making for DeFi solutions. The GVol ecosystem will be integrated into the Layer 2 Oracle infrastructure of the umbrella to provide multiple benefits to users. The architecture of the umbrella network employs the latest developments in Merkle tree technology to provide different data points on an individual on-chain transaction. It provides secure and reliable data batching for smart contracts.
As part of the deal, GVol will serve as the main source of Implied Volatility (IV), Realized Volatility (RV) and other powerful volatility data for Umbrella’s DeFi cluster. The system currently lacks a powerful solution for pricing options by the various DeFi applications that rely on the umbrella ecosystem. The lack of accurate volatility data forced investors to rely on lower derivative pricing instruments. However, with gVOL, Umbrella aims to solve this problem by facilitating easy access to Genesis’s trusted data channels for decentralized solutions. Umbrella is set to explore the options and derivatives market for the first time.
Speaking about the agreement, Sam Kim, Partner at Umbrella Network, said that the team is excited to join hands with Genesis Volatility. They look forward to taking advantage of upcoming opportunities. The partnership will support the development of DeFi by acting as a bridge between data and the entire DeFi cluster. A similar response came from Genesis Volatility CEO, Grad Magadini, who is confident the on-chain DeFi protocol curated on Umbrella and will work well for investors with ease.
The use of top-notch pricing metrics offered by GVol’s IV, IR and SEE data fields is likely to help investors make informed decisions. This will play a vital role in popularizing DeFi among many classes and classes of investors. The agreement will expand the development of decentralized finance, making this option a powerful solution to give tough competition to centralized exchanges in the industry. The unavailability of volatility data often stunts the development of DeFi projects. Now, with Umbrella and gVOL, users will enjoy access to readily available data statistics, making it easier for them to make value-related decisions.
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