Online Blockchain: Umbria Partners with Polygon to Leverage DeFi Protocol
February 15 2021 - 5:07AM
ADVFN Crypto NewsWire
Umbria Partners with Polygon to Leverage
DeFi Protocol
- Polygon providing funding, scalability solution, mentorship and
marketing support -
London, February 15th -- ADVFN Crypto NewsWire -- Umbria
Network,
a decentralized finance platform on the Ethereum blockchain
-
https://umbria.network/,
is proud to announce that it will be deploying its suite of
applications on Polygon (previously Matic
Network).
Polygon - which has vast experience and presence in the DeFi space
- provides scalable, secure and instant Ethereum transactions using
Plasma side chains and a Proof-of-Stake network. It is one of
the most
active layer-2 Ethereum scaling solutions in existence today. Its
Developer
Support Program
is designed to help developers overcome difficulties they may face
while developing Blockchain-based applications. It helps those
building on Polygon to thrive via:
•Early
support
grants
•Technical
guidance from its team and network
•Security
audit support
•Marketing
and promotional support
•Help
with investor connections
The Umbria team has decided to build
its
applications on the Polygon network due to its EVM
compatibility;
high speed,
low cost transactions and the overall composability of the
network.
The Umbria roadmap outlines a release of its DeFi platform with
Polygon side-chain integration on the Mainnet by Q3 of 2021. The
DeFi platform recently released its governance token on
Uniswap,
which will be used to vote on future changes to the
protocol.
"We are incredibly excited about our new partnership with Polygon
and look forward to collaborating with the team to achieve our
common aim of bringing DeFi to the masses by removing barriers to
entry," said Barney Chambers, co-lead developer at Umbria. "The
technical and marketing support provided by Polygon will be
invaluable in driving Umbria forward with the Polygon blockchain
scalability platform
making it the perfect solution for us."
"We are happy to help
the
Umbria team build their suite of DeFi applications and are excited
to partner with them on their journey to mass
adoption,"
said Arjun Kalsy,
VP Growth - Polygon (previously Matic Network).
About Umbria
https://umbria.network/
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. On the Umbria
network, anyone will gain access to a developing suite of services
created by smart contracts.
You can buy UMBR on UniSwap and
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 utility 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.
UK-publicly listed
Online Blockchain plc (LSE:OBC) is acting as Umbria's
coordinator, administrator and advisor.
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