Umbria Network
Releases Fastest, Cheapest Arbitrum Cross-chain Bridge
- Narni bridge
provides superior
experience for transferring ETH between Ethereum and Arbitrum One
blockchains -
Umbria ($UMBR) is
pleased to announce the official launch of its Arbitrum bridge,
marking the fourth cross-chain bridge to be added to the site this
year.
The Narni bridge - https://bridge.umbria.network/
- now facilitates the market's cheapest
and fastest movement of $ETH between the Ethereum Mainnent and
Arbitrum One, the chain implementing Arbitrum's tech. Layer 2
scaling solution Arbitrum currently has $3.72 Billion Total Value
Locked (TVL), which made it a
priority to be included on the Umbria platform alongside its
existing stable of cross-chain bridges.
Price comparison testing of Narni
versus the official Arbitrum bridge provided the following
results:
Narni
Bridge: Ethereum to Arbitrum
One
Cost:
$2.61 ($6.52
with gas price normalised to
100 Gwei).
Speed:
4
minutes and 19 seconds.
Arbitrum
official bridge: Ethereum to Arbitrum
One
Cost:
$17.68 ($28.25 with gas price
normalised to 100 Gwei).
Speed:
6 minutes and
45 seconds.
https://bridge.umbria.network/bridge/ethereum-arbitrum/eth
View
the comparison video demonstration here:
https://www.youtube.com/watch?v=8sl3E8uUiy0&t=4s
Narni uses a novel liquidity lending
protocol, which hosts liquidity pools of singular assets on
different networks. As well as significantly speeding up and
reducing the costs of transactions, it generates fee-based rewards
for liquidity providers who add a single asset to the bridge.
Whenever a participant migrates assets between two cryptocurrency
networks using Narni, the liquidity providers receive a share of a
0.2% fee in the native crypto/token they supplied. There are
particularly lucrative rewards for anyone staking $UMBR
– Umbria's governance token. These
liquidity providers earn their share of a 0.3% fee whenever anyone
transfers ANY of the assets supported by the bridge. The APYs can
be viewed here: https://bridge.umbria.network/staking-pool/
In addition to Arbitrum, Umbria
currently provides the fastest and cheapest bridging from the
Ethereum network to the Polygon network, Avalanche network, Binance
Smart Chain and Fantom (and vice versa).
"Arbitrum One – an Optimistic Rollup
that settles Ethereum transactions off chain - is becoming
increasingly popular with NFT and DeFi projects due to its low
transaction costs, rapidity and high security," said Barney
Chambers, Co-founder/Co-lead developer of Umbria. "This
accelerating demand, which in turn increases demand for cheap and
fast solutions for transferring assets, made it a natural choice as
the next bridge for integration on our platform. We're expecting
high volumes of bridging between the Ethereum and
Arbitrum
networks."
Join Umbria's
next Twitter Space on Thursday, 5th
May at 5pm
UTC:
https://twitter.com/i/spaces/1rmxPgmabEZJN?s=20
Umbria is
looking to reach out to projects on Arbitrum that would benefit
from cheap and fast bridging. Any parties interested in a
partnership should fill out the Partnership Contact Request
form: https://partner.umbria.network/
-
Ends –
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
https://umbria.network/
https://bridge.umbria.network/
Operating within
the DeFi and NFT space, Umbria Network enables anyone to migrate
cryptocurrency assets across chain cheaply and quickly and earn
high APYs on those assets with no impermanent
loss.
Umbria's flagship
Narni cross-chain bridge is solving current blockchain
interoperability issues. Narni removes the difficulty and expense
of moving assets between blockchains and is the fastest and
cheapest cross-chain liquidity bridge between the Ethereum and
Polygon networks. Narni eliminates the barriers to entry for
engaging with DeFi applications and NFTs making them much more
accessible to a wider audience.
The Umbria
ecosystem, built on Polygon, has three major protocols:
-
A
Cross-chain Asset Bridge: enables the fast and cheap
transfer of assets between otherwise incompatible blockchains and
cryptocurrency networks.
-
A Staking
Pool:
users can earn interest on their crypto assets by providing
liquidity to the Narni bridge
-
A
Decentralised Exchange (DEX): an automated liquidity
protocol powered by a constant product formula, deployed using
smart contracts and governed entirely on-chain. Provides fast and
cheap token swapping
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.
For media enquiries, contact Francesca De Franco -
francesca@onlineblockchain.io