Early
UMBR adopters reaping the benefits in Umbria Farm
-
Governance token
provides
full flexibility on reward distribution -
Farming rewards have begun
for UMBR holders depositing into the Umbria
Farm.
Currently, approximately 1
UMBR token is minted per minute; a share of which is distributed to
anyone who has staked their Uniswap ETH LP- UMBR tokens in the Farm (smart
contract). Rewards for those depositing commenced on Saturday 27th
March at block 12120000 and will continue for a further 50,000
blocks. The APY at time of writing is 1187%.[1]
The Umbria DeFi protocol,
which uses cutting edge layer 2 technology, provides full
flexibility on governance rewards given to holders with the amount
minted per block easy to change and vary as many times as
necessary. Umbria offers an improvement to the SushiSwap protocol
by leveraging the next generation of DeFi technology - layer 2.
Community members can make governance proposals on the Umbria Discord channel. As the project matures there
will be full on chain governance so token holders will be able to
vote on how many UMBR per block are minted for
farming.
Anyone staking their
ETH-UMBR LP tokens can unstake them at any time and the
tokens
plus the Umbria rewards
received will go back into their metamask wallet. Those that have
added 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.
"Our code base provides
more flexibility on governance and, specifically for yield farmers,
more flexibility for token distribution than SushiSwap," said
Barney Chambers, Co-lead developer at Umbria. "We're really excited
by the progress of Umbria and the very positive response of our
growing community."
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. You can also contact on the above
channels as well as Twitter
and Facebook.
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.