– Sam Kim, the founding partner at Umbrella Network
Every data point on the Umbrella Network is tagged with proof of consensus which ensures the reliability of data even after data retrieval by dApps and other such innovative DeFi solutions like IX Swap.
Umbrella Network’s oracles easily add new data points (and in this case, unique data points) via its Merkle tree architecture that batches large sets of data before commitment to the blockchain.
“We are thrilled to integrate Umbrella’s scalable oracles into IXSwap’s sophisticated suite of liquidity pool and automated market makers for security tokens. I’ve been focused on STOs since 2017 and believe this is one of the biggest opportunities in the world today. I’m glad to be able to work with Umbrella’s innovative and scalable oracle solutions to be able to support some of our newer initiatives within the blockchain space.”
– Julian Kwan, Founding Partner of IX Swap
Private Asset Data
Both platforms will also co-develop a private asset data feed for assets that are not publicly traded, including pricing data on shareholding patterns of unlisted companies, paid-up capital, AGM notes, etc.
This data feed aims to be useful for things such as cross-border mergers and acquisitions, among others, as currently, authoritative data on unlisted companies is hard to fetch and authenticate.
Security tokens and tokenized stocks of private assets are considered illiquid not because of the lack of demand but because of the absence of reliable data regarding capital, compliance, and other factors. Umbrella Network intends to solve this by bringing real-time price private data feeds to IX Swap.
