LONDON, March 30, 2021 /PRNewswire/ -- Farming rewards
have begun for UMBR holders depositing into the Umbria Farm.
Currently, approximately 1 UMBR token is minted per minute; a
share of which is distributed to anyone who has staked their
Uniswap ETH LP- UMBR tokens in the Farm (smart contract). Rewards
for those depositing commenced on Saturday 27th March at block
12120000 and will continue for a further 50,000 blocks. The APY at
time of writing is 1187%.
The Umbria DeFi protocol, which uses cutting edge layer 2
technology, provides full flexibility on governance rewards given
to holders with the amount minted per block easy to change and vary
as many times as necessary. Umbria
offers an improvement to the SushiSwap protocol by leveraging the
next generation of DeFi technology - layer 2. Community members can
make governance proposals on the Umbria Discord channel. As the
project matures there will be full on chain governance so token
holders will be able to vote on how many UMBR per block are minted
Anyone staking their ETH-UMBR LP tokens can unstake them at any
time and the tokens
plus the Umbria rewards
received will go back into their metamask wallet. Those that have
added their LP tokens to the Umbria Farm will be included in the
Umbria airdrop snapshot on April
15th and eligible to claim their free tokens on May 15th.
"Our code base provides more flexibility on governance and,
specifically for yield farmers, more flexibility for token
distribution than SushiSwap," said Barney
Chambers, Co-lead developer at Umbria. "We're really excited by the progress
of Umbria and the very positive
response of our growing community."
See the latest price of UMBR on CoinMarketCap:
Head on over to our Discord channel or Telegram to find out more
on the latest developments.
If you are interested in becoming an official Umbria Ambassador and earning additional UMBR
please get in touch at email@example.com using the subject
'Brand Ambassador' in your email. You can also contact on the above
channels as well as Twitter and Facebook.
Umbria is a decentralized
protocol, which enables DeFi (Decentralised Finance) applications
on the Ethereum blockchain. It aims to demystify and simplify
DeFi and get people earning income on their crypto. Using cutting
edge-layer two technology developed by Polygon, Umbria is developing a suite of popular DeFi
features at fractional on-chain cost of many current DeFi platforms
with greater transaction speed (while maintaining all the
cryptographic security provided by Ethereum).
Umbria is available on Uniswap
and users can add liquidity to earn fees. A user of Umbria will soon be able to swap tokens and
earn interest on their cryptocurrency positions on the Umbria website with other facilities coming
online (via developers and community initiatives) which will
utilise the Umbria protocol and
its governance token. One of the initial features of Umbria is that it will allow users to deposit
cryptocurrency as liquidity in AMM (automated market making) pools
to earn fees from token swapping and earn additional Umbria as an incentive for providing
liquidity. The Umbria governance
token will also enable users in the network to take control over
decision-making and have voting power over the development and
governance of Umbria's
UK-publicly listed Online Blockchain plc (LSE:OBC) is acting as
administrator and advisor.
 APY as of 5pm BST on
Francesca De Franco
+44(0) 794 125 3135
SOURCE Online Blockchain plc