LONDON, March 25, 2021 /PRNewswire/ -- 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.
Francesca De Franco;
francescad@advfnplc.com; +44(0) 794 125 3135
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SOURCE Online Blockchain plc