Umbria Network DeFi Farm Launches
March 25 2021 - 9:55AM
ADVFN Crypto NewsWire
Umbria
Network DeFi
Farm
Launches
-
Earn passive income with UMBR
governance tokens
-
UMBR
holders can
capitalise on
their tokens
with the
introduction of the Umbria Farm.
Users
of the Umbria
Layer
2 DeFi
protocol
can
soon deposit
their
UMBR-ETH LP (liquidity pool) tokens into
the
Umbria
Farm
https://farm.umbria.network/ and
earn
even
more
$UMBR as a
reward.
After
buying UMBR on Uniswap,
anyone
can add liquidity to
the UMBR-ETH
pool on
the
Uniswap
platform.
They receive
LP
tokens
and earn
fees in return. Holders of
these LP tokens
will be
able to put them directly
into
the
Umbria
Farm to
get
a share
of 50,000
UMBR
(share
dependent on how many ETH-UMBR LP
tokens
they are
staking). This is
in
addition to the fees they earn
for
liquidity provision on Uniswap.
Watch this video for
a
step-by-step guide: https://www.youtube.com/watch?v=UGhks3zMSZY
At
block 12120000
farming rewards
will
begin
being
distributed to those
who have
staked their UMBR-ETH
tokens in
the
Umbria Farm. Participants will
receive a portion of the
0.25
UMBR minted
per
block for
the
subsequent 50,000 blocks.
It's
currently estimated that yield farming on the
platform
will
commence around the 27th
of
March.
Check
the block
countdown
here for the latest
update.
Anyone
adding 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.
"By
putting your LP tokens into another contract – that is the Umbria
Farm - you can really
capitalise
and
make your assets work much
harder. You still get fees for providing liquidity, but you're also
earning additional UMBR. Welcome to
farming!"
said Oscar
Chambers, Co-lead
developer
at Umbria. "We're looking forward to deploying many more features
on the Umbria Network in
2021."
See the latest price
of UMBR on CoinMarketCap:
https://coinmarketcap.com/currencies/umbria-network/news/
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 hello@umbria.network
using the
subject 'Brand Ambassador' in your email.
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. 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 protocol.
UK-publicly
listed Online Blockchain
plc (LSE:OBC)
is acting as Umbria's coordinator, administrator and
advisor.
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