LONDON, Sept. 20, 2021 /PRNewswire/ -- Umbria's ultra-low-cost liquidity
bridge now supports ETH and MATIC in addition to USDT and
UMBR.
Using Narni - https://bridge.umbria.network - the native tokens
for the Ethereum and Polygon networks can be transferred
exceptionally quickly and cheaply cross-chain. ETH, which was
launched first, can be bridged from the Ethereum to Polygon Network
for as little as $2.56 in gas, which
is significantly less than other bridges. This has caused the Narni
Bridge to be adopted rapidly by many DeFi participants and has
especially caught the attention of the Zed Run community, who had
previously been hampered by prohibitively expensive gas
fees.
Another considerable advantage of the Narni Bridge is the APY it
pays liquidity providers. Its "Pool and Earn" function
(https://bridge.umbria.network/pool/) enables users to lend their
MATIC and ETH (and other assets) to the bridge and earn APY when
other participants bridge that specific token between networks.
Anyone currently providing ETH to the Polygon pool has received up
to an astounding 70% APY with no impermanent loss.
Further information can be found here:
bridge.umbria.network/docs.
"We're seeing great momentum now with the Narni bridge and a
very pleasing increase in Total Value Locked (TVL). Lots of people
are bridging, which in turn attracts more liquidity providers who
are enticed by the interest they can earn on the asset they
supply," said Oscar Chambers,
Co-lead developer of Umbria. "More
chains and assets are coming online imminently; we'd love to hear
from the DeFi community about what they'd like to see next on the
Narni Bridge."
Go to the Discord and Twitter channels for the very
latest product development news.
See the latest data on UMBR on CoinMarketCap and CoinGecko:
https://coinmarketcap.com/currencies/umbria-network/news/
https://www.coingecko.com/en/coins/umbria-network
About Umbria
Umbria is a Decentralised
Finance protocol, which is creating low-cost and easy-to-use DeFi
applications. Umbria aims to
demystify and simplify DeFi and get people earning income on their
crypto.
Umbria's first partnership -
with Polygon - is seeing it use Polygon's Ethereum scaling solution
to develop a suite of popular DeFi features at fractional on-chain
cost of many current DeFi platforms with greater transaction speed.
Umbria is actively developing
further collaborations in the DeFi space.
Umbria's Layer 2 Decentralised
Exchange (DEX) and farm for its native governance token UMBR and
the popular MATIC token launched in May
2021. This farm and the previous one have been characterised
by consistently high APY.
Umbria's cross-chain bridge
(Narni) - an industry game changer - facilitates easier,
quicker and cheaper transfer of assets between different blockchain
ecosystems. The bridge also enables people to stake their
tokens and earn APY like they would in traditional farming. The APY
is expected to be particularly attractive
for stablecoins.
Its governance token $UMBR is available
on Uniswap as well as Umbria's DEX. Other
facilities will continue to come online which will utilise
the Umbria protocol and its governance token.
UK-publicly listed Online Blockchain plc (LSE:
OBC) acts as Umbria's coordinator, administrator and
advisor. This provides a level of transparency rare in the DeFi
space.
Photo -
https://mma.prnewswire.com/media/1628734/Online_Blockchain_plc.jpg
Contact:
Francesca De Franco
francescad@advfnplc.com
+44 (0)7941 253135
View original content to download
multimedia:https://www.prnewswire.com/news-releases/online-blockchain-plc-matic-and-eth-added-to-umbria-networks-narni-cross-chain-bridge-301379563.html
SOURCE Online Blockchain plc