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MultiversX's First On-Chain Oracle Solution

Umbrella Network, a decentralized oracle service, now provides reliable on-chain data feeds, offering developers crucial tools for innovation within the MultiversX ecosystem. Initial feeds, including EGLD-USD and USDT-USD, mark a transformative step towards a more advanced and secure DeFi space.

The challenge

Navigating the transition from Ethereum Virtual Machine (EVM) to MultiversX posed intricate challenges. Adapting existing solutions to a new blockchain requires more than mere translation—it demands a meticulous, collaborative approach. Working closely with the Umbrella team, Buidly addressed the complexities of MultiversX, crafting an intricate yet efficient smart contract architecture. This architecture ensures scalability, security, and composability—key elements for a successful integration.

The strategy

The smart contract architecture we developed is a testament to our commitment to excellence. It intricately weaves together multiple contracts, prioritizing efficiency and scalability. Specialized enhancements for MultiversX, coupled with comprehensive testing of edge cases, guarantee a robust solution. Our strategy doesn’t end with implementation; it extends to meticulous testing, ensuring a bullet-proof system capable of handling MultiversX’s unique demands.

Conclusion

Buidly’s dedication to innovation shines through the successful integration of Umbrella Network into MultiversX. This collaboration enriches the ecosystem by providing developers with reliable, secure, and customizable on-chain data feeds. Empowering the evolution of DeFi protocols and innovative use cases, this integration underscores our commitment to shaping the future of blockchain technology.