Umbrella Network, a layer-2 oracle solution, announced today a partnership with IX Swap, a platform that offers automated market-making and liquidity pools for security tokens and tokenized stocks.
Under the partnership, Umbrella Network’s decentralized oracles will provide real-world asset data to IX Swap’s liquidity pools and AMMs. This may include stock prices, S&P 500 indices, options data, and more.
Further, Umbrella Network and IX Swap will work towards the development of a custom data feed for private asset data. This data feed is to be used across both traditional and crypto financial ecosystems.
“We at Umbrella Network are genuinely excited about this partnership with IXSwap as we look forward to the development of the world’s first private assets pricing feed. It will be a major step in bringing together CeFi and DeFi as we empower IX Swap with dynamic and real-time price feeds to be a global liquidity solution for all STO exchanges.”
– 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.