What a year it has been! As 2021 draws to a close, Umbrella Network looks to the future. Umbrella Network has been hard at work building market-leading oracle solutions for DeFi and beyond. New year, new goals, and with it - Umbrella Network's revised roadmap for January-June 2022!

In setting our goals and developing our roadmap for the first and second quarters of 2022, we began by reflecting on 2021 - all that has been achieved and where we can do better.

We have learned a lot from our roadmap revision for 2021, taking into account current and most important priorities.

We also listened to and incorporated community feedback and considered a more appropriate place to implement the milestone.

Regarding the rollout time, there are a few things that could affect it:

1. First, Umbrella Network now has more validators. As the validator network continues to grow, rolling out new features will take more time, as all validators will need to upgrade their nodes with every feature release or software update.

2. Second, we will be very focused on product adoption in the first half of 2022 and beyond. While this won't necessarily be carefully reflected on the roadmap, it does impact roadmap planning as partner integration will take time and resources.

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Partnerships and Product Adoption

Umbrella Network quickly gained the trust of dApps across multiple blockchain networks. From Armor Finance, which joined as an Umbrella Network partner because we are the only decentralized oracle capable of processing its transaction volume, to Uno Re, which uses decentralized data sources to help more accurately calculate its insurance premiums.

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Transition to further decentralization and community governance

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Continue to expand multi-chain support across major blockchain networks

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Umbrella Network January-June 2022 roadmap breakdown by month

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Umbrella Network January 2022 Roadmap Plan

Uniswap integration - Umbrella Network should include Uniswap's liquidity pool pricing data as one of its sources. The benefits of doing this are twofold -

1. More decentralized in terms of data sources

2. Greater coverage of mid- or low-cap data pairs

rUMB2 Release - Upon successful completion of Achievement 1, all rUMB1 tokens are freely convertible to UMB (at a 1:1 ratio). Converting rUMB to UMB After this, all staked UMB tokens will start generating rUMB2 denominated yields which can be converted to UMB upon successful completion of Achievement 2.

The conversion event from rUMB to UMB shall be subject to the controlled conversion method as follows −

The daily quota should be equal to 2 times the current daily rUMB payout. This means that, for example, if rUMB1 has a daily spend of 120,000, a total of 240,000 rUMB1 can be converted to UMB on any given day on the day the conversion event is triggered. Once the limit of 240,000 token conversions is reached, conversion events for that day will stop and you will have to retry the next day.

For those rUMB1 HODLers who don't want to participate in the conversion event and just want to continue staking, we will provide a seamless mechanism to stake their rUMB2 holdings of rUMB1 with a lock-up period. Stay tuned for more updates on this!

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Umbrella Network February 2022 Roadmap Plan

Boba - This is a collaboration between OMG Platform and Enya. Boba is an extension based on Layer2 Optimistic Rollup

The solution on Ethereum, in addition to having lower fees, also offers faster exits. Boba has become one of the fastest growing L2 Ethereum scaling solutions in 2021.

Arbitrum — This is one of the well-known names in Ethereum Layer 2 scaling. By launching on the Arbitrum mainnet, Umbrella Network will be available to thousands of DeFi and NFT projects built on Arbitrum

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Umbrella Network March 2022 Roadmap Plan

DPoS Phase 1 — Validators of the Umbrella network validate incoming data via a delegated proof-of-stake consensus. The DPoS announcement means that all UMB HODLers will have the option to stake their tokens with validators and share in the prorated staking rewards.

As this will be quite complex, we decided to roll it out in phases (more details will be released in Q1 2022)

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Umbrella Network April 2022 Roadmap Plan

Moonbeam — While some may refer to Moonbeam as the gateway for EVM smart contracts to the Polkadot ecosystem, we believe it is much more than that. As an independent parachain, Moonbeam has quickly grown into one of the most popular Polkadot parachains. Launching on the Moonbeam mainnet will be Umbrella Network's entry into the Polkadot ecosystem.

Passport v1.0 - This will be the official release of Passport for Umbrella Network to everyone following the implementation of the beta feedback from the February release.

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Umbrella Network May 2022 Roadmap Plan

DPoS Phase 2 - Following the launch of Phase 1 in March 2022, Umbrella Network will expand the rollout of DPoS in Phase 2 to increase the capabilities of UMB holders.

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Umbrella Network June 2022 Roadmap Plan

Canado - The Canado mainnet launch will be the 10th blockchain mainnet launch - ensuring that dApps in all major ecosystems (covering over 95% of all dApps) can directly leverage Umbrella Network's decentralized oracles calls into their smart contracts.

Well, that's it, folks. When planning our roadmap, we balanced the short-term interests of UMB with the long-term interests of UMB.

In future revisions, we will add more products and feature releases to the roadmap to become a multi-chain interoperable decentralized oracle.

Our team at Umbrella Network is committed to continuing to deliver on our roadmap (we will stick to our 2022 roadmap goal)

Thanks to our community for supporting us throughout the ups and downs of 2021 - let's look forward to an amazing 2022 together!