Umbrella Network Announces Partnership With Bridge Mutual
Umbrella Network is pleased to announce a partnership with Bridge Mutual, a decentralized peer-to-peer discretionary coverage platform for digital assets. Through the partnership, Umbrella Network will provide secure and scalable price feed data to Bridge Mutual’s platform.
Built on the Polkadot network, Bridge Mutual is a risk coverage platform where users can buy or provide coverage for smart contracts, stablecoins, exchanges and more; the stakers then split profit and yields as a reward. Coverage is purchased using stablecoins, with coverage funds being invested onto platforms like Aave, Curve, and Balancer, among others. For unbiased and data-driven adjudication, the Bridge Mutual platform requires fast and secure asset price data, both real world and crypto. Umbrella Network’s decentralized oracles are able to provide the relevant price feeds, including stablecoins such as USDC and USDT, to Bridge Mutual to support its platform operations, offering faster, cheaper, and more scalable asset price data.