Polygon (MATIC) gets Umbrella Network Onboard

Karthik Subramanian

Polygon, the layer 2 solution on Ethereum, now has a new oracle onboard in the form of the Umbrella network which is a decentralized Layer-2 oracle solution and this launch would make available price data for a range of instruments across the entire ecosystem.


The Polygon network has been seeing the onboarding of a lot of applications and solutions on its network over the last few months and the network has seen some massive growth during this period as it combines the power of the underlying Ethereum network with low gas fees and high speed, which is not available in Ethereum at this time. So, all the developers who would have ideally moved to Ethereum to house their applications are now choosing to go with Polygon and the network has also developed its developer support multi-fold to welcome the new developers and make their onboarding process much easier than before.

“We have long-term goals of providing a lot of different oracle solutions for the NFT and gaming segment, which is thriving on Polygon,” said Sam Kim, Partner at Umbrella Network. “We hope to be able to work with various DeFi applications on their data needs, as well as the growing gaming ecosystem there. Between our scalable data solutions, our newly released arbitrage-free options pricing, which is currently unavailable anywhere else in DeFi, as well as our VRNG, we have many data solutions that could be effectively utilized by applications on Polygon.”

For the first time, the Umbrella network would be releasing their random number generator which is an important development for the developer ecosystem and much-needed addition. One of the main challenges that the developers face, especially when building large games, is to be able to generate random numbers that cannot be tampered with or predicted, under any circumstances. This would be satisfied by the launch of the random number generator by the Umbrella network which would also support uniform randomness, skewed randomness as well as customer distributions. This would be very useful for NFT minting and crafting and also help with the integration of the NFTs into a gaming ecosystem apart from its usual use-cases like lotteries and queue generation. This would be welcomed by the game developers on the Polygon network which has also been actively supporting this ecosystem in recent months.

  • Read this next

    Digital Assets

    Japan Is Rapidly Emerging As A Global Leader In Compliant Crypto Payments

    Japan is often hailed as one of the most forward-thinking nations in the crypto industry, with its government taking a very positive stance on the potential of concepts such as Web3. 

    Digital Assets

    Kraken launches institutional arm

    “If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”


    Centroid integrates with brokerage solutions provider GTN

    “We are thrilled to integrate GTN into Centroid Bridge, our multi-asset connectivity bridging engine. This integration allows our clients to gain access to the wide range of multi-asset products offered by GTN.”

    Podcasts, Women of the Industry

    FF Podcast delves into the rise of prop trading as Brokeree releases Prop Pulse

    In the latest FinanceFeeds Podcast, Tatiana Pilipenko discusses Prop Pulse, Brokeree Solutions’ platform for prop firms and retail brokers aiming to delve into prop trading. Offering a flat fee structure, Prop Pulse emerges as a scalable solution in an era where successful traders increasingly prefer prop firms over traditional retail brokers.

    Inside View

    Scalping or day trading?

    Among the many popular trading styles with both beginners and experienced traders are scalping, which allows you to extract small portions of profit from each price movement, and day trading, which aims to trade over a single day. In this article, you will learn what scalping and day trading are and their differences and peculiarities. Ultimately, you will learn what to look for to understand which trading style is right for you.

    Crypto Insider

    Unveiling Plasma Next: INTMAX’s Solution to Scale Ethereum with Stateless Layer

     INTMAX has launched Plasma Next on the mainnet α, a groundbreaking Layer 2 zkRollup, revealed by co-founder Leona Hioki at ETH Denver. This innovation offers scalability with constant costs per block, merging Plasma’s scalability goals with zkRollups’ security.


    Nuam selects Vermiculus for clearing system in Chile, Colombia, and Peru

    “We are proud to deliver a system that plays an integral role in the core of this historical merger, empowering one of Latin America’s most crucial markets with VeriClear’s state-of-the-art technology, together with our deep market expertise.”

    Retail FX

    Moomoo launches super app in Malaysia

    “As an investment platform connecting 21 million retail investors globally, we envision collaborating with exchanges, regulatory bodies, and partners in the visible future to become the gateway, connecting Malaysia’s investment products to global capital and investors.”

    Executive Moves

    FXPA elects Joe Hoffman as new Chair in its 10th anniversary

    “The opportunity to serve as Chair of the FXPA is truly an honor, and I am committed to upholding the exceptional work of a FXPA. Given the recent market fluctuations due to global tensions, inflationary pressures, shifts in monetary policy, as well as the outcome of the US election and the risk of recession, brings the potential for more FX volatility in 2024. I am dedicated to expanding the FXPA’s membership and I’m excited about collaborating with all members to echo the unified voice of the FX market.”