Online Blockchain plc: Cheap, Fast and Easy Bridging of ETH on Umbria Network
Online Blockchain plc: Cheap, Fast
and Easy Bridging of ETH on Umbria Network
- Approximately 20% APY for ETH
liquidity providers on Narni Bridge and no impermanent loss -
LONDON, Nov. 29, 2021 --InvestorsHub NewsWire -- Ether
(ETH), the native cryptocurrency for the Ethereum Network, can be
transferred exceptionally quickly and cheaply cross-chain
using Umbria's Narni Bridge - bridge.umbria.network.
The world's second-largest digital currency by market
cap can typically be transferred from the Ethereum
blockchain to the Polygon blockchain in less
than four minutes, and often at a cost of
just $4-$9. This is a fraction of the gas price of other
solutions and has led to Narni being adopted by many in the NFT
community who had previously been experiencing exorbitant fees.
Users of Umbria's cross-chain liquidity bridge can
also earn a passive income from their $ETH through Narni's 'pool and earn'
- https://bridge.umbria.network/pool/ This feature
enables participants to lend their assets to the bridge, that is
become liquidity providers (LPs), to earn interest. LPs receive
fees when other users bridge ETH between networks. There is no
impermanent loss, as experienced with most other platforms, as only
one asset is provided as opposed to a liquidity pair.
"As a result of the integration of Polygon on the
OpenSea platform there's been an explosion in the number of
NFT projects being built on Polygon. This means there's a massive
demand for bridging ETH to the Polygon Network (that is exchanging
ETH for WETH) in this space alone," said Barney Chambers,
Co-lead developer of Umbria Network. "It isn't just the cheap and
fast bridging that has got the community excited, the APY for
lending the asset is also very attractive. We currently have
almost $1.5 million TVL in Ethereum alone on the
For more information about the bridge see
the Umbria documentation page: bridge.umbria.network/docs and for feedback,
questions and the very latest news about Umbria and the
Narni Bridge please head to our Discord
See the latest data on UMBR on CoinMarketCap and CoinGecko:
Umbria is a Decentralised Finance protocol, which is
demystifying and simplifying DeFi and getting more people earning
greater income on their crypto.
The Umbria ecosystem, built on Polygon, has three
- 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 bridge.
- A Decentralised Exchange (DEX) an automated
liquidity protocol powered by a constant product formula, deployed
using smart contracts, governed entirely on-chain. 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 - email@example.com, +44(0) 794 125
SOURCE Online Blockchain plc
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