Known for its highly-efficient, scalable, and trusted oracle services devoted to DeFi and blockchain firms, Umbrella Network has entered into a strategic partnership with Genesis Volatility, a renowned analytics portal for crypto options trading.
With this collaboration, Umbrella Network will be able to avail seamless access to quality data pertaining to various options and derivatives which aid decision-making for DeFi solutions. The GVol ecosystem will be integrated into Umbrella’s Layer 2 oracle infrastructure to provide a host of advantages to users. Umbrella Network’s architecture employs the latest developments in Merkle Tree technology to provide various data points on an individual on-chain transaction. This facilitates secure and reliable data batching for smart contracts.
As part of the deal, GVol will work as the chief source of Implied Volatility (IV), Realized Volatility (RV) and other powerful volatility data for Umbrella’s DeFi cluster. The system currently lacks a potent solution for pricing options by the various DeFi applications relying on the Umbrella ecosystem. The lack of accurate volatility data compelled investors to depend on inferior derivative pricing tools. However, with GVol, Umbrella aims to resolve this problem by facilitating easy access to Genesis’ reliable data channel for decentralized solutions. Umbrella is set to explore the market of options and derivatives for the first time.
Talking about the pact, Sam Kim, partner at Umbrella Network, stated that the team is elated to join hands with Genesis Volatility. They are looking forward to reap the benefits of upcoming opportunities. The partnership will support the growth of DeFi by working as a bridge between data and the entire DeFi cluster. A similar response was given by Gred Magadini, the CEO of Genesis Volatility, who is confident that the on-chain curated on Umbrella will work effortlessly well for DeFi protocols and investors.
The use of top-tier pricing metrics offered by GVol’s IV, IR, and skew data fields are likely to help investors to make informed decisions. This will play a significant role in popularizing DeFi across multiple sections and classes of investors. The pact will expand the growth of decentralized financing, making it a powerful solution giving stiff competition to centralized exchanges in the options industry. The non-availability of volatility data often stagnates the growth of DeFi projects. Now, with Umbrella and GVol, users will enjoy access to the readily available data stats, making it easier for them to take price-related decisions.