MATIC & ETH Added to Umbria Network's Narni Bridge
September 20 2021 - 2:00AM
InvestorsHub NewsWire
Online Blockchain plc: MATIC and
ETH Added to Umbria Network's Narni Cross-chain Bridge
Liquidity providers
currently earning up to 70% APY on ETH with Umbria's
bridge
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.
- 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
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.
Contact:
Francesca De Franco
francescad@advfnplc.com
+44 (0)7941 253135
SOURCE Online Blockchain
plc
Related
Links
http://www.onlineblockchain.io
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