A REVIEW OF THE UMBRELLA NETWORK: THE UPDATED RUNWAY SCHEDULE
The Umbrella team has declared that they will keep up their efforts to assure the growth and advancement of the Umbrella Network and that they will keep the community updated on their progress even while they are actively looking for new sources of finance and industry partners.
Recently, the umbrella has seen a lot of activity, and shortly the team will make an important announcement. Having started with a major Update on Umbrella’s runway that was released by The Umbrella Team, the team has been quite busy over the past several weeks.
The runway will now last longer than six months, which was the initial resolution, owing to the Umbrella team’s laborious work to accelerate essential processes and put aside more funds to lengthen the runway even further.
A roadmap update for July and August was included in the statement made by the Umbrella team, and it provides a clear explanation of the direction the Umbrella Network plans to head in going forward.
This post provides a quick summary of recent changes to the Umbrella Network and other community reports from the Umbrella Network team over the past few weeks.
The Umbrella Network participated in the ETH Barcelona event with several great CeFi, DeFi, and blockchain protocols.
The event’s major topic was the dearth of information on Blockchain products, and initiatives need oracles to address this problem. The scalable and cost-effective oracle offered by Umbrella Network opens up new opportunities for innovative solutions in the sector.
Furthermore, the Umbrella team has made great work during the previous weeks in the following areas:
- Code cleanup for the Developer’s Portal was finished to transition to open-source.
- To be open-source, the readme files for the validator and back end have been updated.
- Developing scripts to export supported data points.
- Fixing a back-end issue that is weakening Solana’s chain information.
The team has made excellent progress as seen by their accomplishments below:
- The prize pool for staking streams has been restarted.
- Cleaning up the code for the Block Explorer.
- Transferring TxSender and GasEstimator to the system development kit.
- Examining the Oracle Smart Contract
- Updating the reference app
The team’s assessment of Oracle smart contracts left no detail untouched, and every feedback was taken into consideration. The reference smart contract that extracts data from a passport has been added to the Reference App. Snapshot voting has also been changed to reflect $UMB stakes in Hadley and Polar Streams.
In the coming month of August, the Umbrella team intends to accomplish the following:
- Prepping new repositories, deploying code to them, configuring them, setting up change tracking and version control
- The Multichain solution will be analyzed in a test environment
- Revise, put into practice, and expand the passport price feature.
As they work relentlessly to put the plan for reforming the Umbrella Network into action, the Umbrella team is on track to reach these goals.
Find out more about the Umbrella Network via the following links: