Umbrella Network is pleased to announce a strategic partnership with Antimatter, a simple light-weighted, on-chain and cross-chain DeFi derivative protocol. Antimatter puts forward a DeFi perpetual options protocol based on a polarized token mechanism with tokenized perpetual derivatives. Through this partnership, Antimatter will be able to access critical derivatives data via Umbrella Network’s Layer 2 decentralized oracle solution. Umbrella will provide Antimatter with a diversity of secure data including crypto-asset pricing, options data, and calculated implied volatility, among others. Additionally, Antimatter will provide Umbrella with Chainswap, their proprietary cross-chain bridging solution that will allow our $UMB token to swap across to Binance Smart Chain, HuobiECO, and other chains.
Umbrella Network is one of the first truly decentralized oracles for the DeFi market. It is a community-owned Layer-2 data oracle service, providing secure and massively scalable data solutions to the DeFi ecosystem, at the lowest cost possible and helping users access a wider variety of data across multiple segments. This data includes major key pairs, middle and long tail crypto assets, as well as real-world financial data. Umbrella uses Delegated Proof of Stake (DPoS) to accurately validate data by economically incentivizing the participants.
Due to the unavailability of quality volatility data, current DeFi applications are unable to accurately price options. In this partnership, both Umbrella Network and Antimatter will work towards solving some of the current problems facing the DeFi ecosystem that hinders mass adoption, leveraging each other’s skills and expertise to help add further value to the growing DeFi industry. Umbrella is bringing in previously unavailable data to DeFi including more sophisticated implied volatility (IV) calculations, the greeks, and other complex metrics that will help to elevate the options and derivatives market in DeFi to operate more in parallel to the more advanced trading capabilities on Wall Street.
Umbrella Network solves the scalability issues in oracles today by utilizing Merkle trees for batching transactions. Merkle trees are used to aggregate the data, allowing multiple transactions to bundle up into a single transaction, and for a single fee. Hence, the time and cost required to bring real-world data on-chain are significantly reduced, allowing Umbrella to be the lowest cost oracle solution with the largest data set available in the market.
Antimatter focuses on simplicity and use-ability and aims to fill the gap in DeFi by offering a streamlined platform for users to execute their derivatives strategies. To maximize user experience, they try to abandon factors that add complexity, aiming to help less-experienced members to execute their long and short strategies which in turn increases mass adoption and retail use of the platform.
“We are extremely excited to join hands with Antimatter as one of our strategic partners,” shared Umbrella Network Partner, Sam Kim. “This partnership creates a great opportunity for Umbrella to showcase the potential for DeFi as more diversified financial data comes to the industry via decentralized oracles. We look forward to providing a broader range of secure, real-time data to our new partner to help more accurately and effectively price options. We are privileged to partner with such like-minded projects like Antimatter.”
“Antimatter is delighted to work with Umbrella Network as they help us solve the challenges of the growing DeFi options industry,” said Jack Lu, Antimatter CEO. “We look forward to being able to secure critical and accurate real-world derivatives data and more sophisticated calculations of implied volatility (IV) that will help DeFi options platform like ours to more accurately price options and allow options traders to perform more efficiently and profitably. We prioritize simplicity and efficiency, and will look to become the Uniswap for options and derivatives.”
About Umbrella Network
The DeFi and blockchain community is blessed with the first-ever decentralized, community-owned layer-2 oracle providing scalability at the lowest cost. It’s Layer 2 technology allows writing multiple data points on a single on-chain transaction using the Merkle tree technology, which enables batch-data processing to provide data to smart contracts precisely and securely at a low cost. Umbrella thrives to develop a truly decentralized financial system and believes that a community-owned oracle will definitely help achieve the same.
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Antimatter is a cross-chain simple, light-weighted derivative protocol, building a full product, elegant and simple, on Ethereum and further extending to Binance Smart Chain and Polkadot. Antimatter intends to help less-experienced users to execute their long and short strategies which in turn increases mass adoption and retail use.
With Antimatter’s initial ETH perpetual put option product, users need not worry about their on-chain positions. As the team abandons the time factor to make the system flexible and easy to use, a series of standardized put options can be built for anyone to contribute and participate. Market makers funds can collectively enhance liquidity and depth. As crypto is already risky, the on-chain crypto option adds another layer of risk and hence Antimatter came up with the notion of polarized tokens to de-risk and solve this problem. An option product consists of two sides, positive (call) and negative (put), and users only need to purchase and sell two polarized tokens to get exposure to call and put. To merge together call and put options, Antimatter brings more integrity and less complexity to their product and user experience.
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