Umbria Network
Releases Cheapest
Fantom Cross-chain
Bridge on the Market
- facilitating easy
asset transfer between Ethereum and
Fantom blockchains -
Umbria ($UMBR)
today announces the full public launch of its Fantom (FTM) bridge -
the third cross-chain bridge to be added to the platform in Q1 of
2022.
Unlike other Fantom bridging solutions,
where native Ethereum first has to be wrapped (WETH) before being
transferred, the Narni liquidity bridge - bridge.umbria.network - makes the process of moving Ether (ETH) between
the Ethereum Mainnet and the Fantom network quick, cheap and easy.
Price comparison testing of Narni versus the Multichain bridge,
which is endorsed on the Fantom website, provided the following
results (with gas price normalised for
fair comparison): [1]
Narni
Bridge: Fantom to Ethereum -
cost: $6.66
Multichain
Bridge: Fantom to Ethereum -
cost: $66.74
Narni
Bridge:
Ethereum to
Fantom - cost: $6.57
Multichain
Bridge - Ethereum to Fantom -
cost: $9.29
Umbria
already provides the fastest and cheapest bridging from the
Ethereum network to the Polygon network, Avalanche network
and Binance Smart
Chain (and vice versa) with
bridges for more EVM-compatible chains road mapped for 2022. In
addition to transferring assets between these networks, users can
provide liquidity to the bridge as a single asset
to earn high
APY with no impermanent loss. Whenever a participant bridges assets
between two cryptocurrency networks using Narni, the liquidity
providers receive a share of a 0.2% fee in the native crypto/token
they supplied - bridge.umbria.network/pool.
"Lots of NFT
projects and dApps are electing to build on Fantom due to its fast,
high-throughput smart contracts. However, whilst the Fantom network
solves many of the issues of the Ethereum network it has been
difficult to onboard users due to the high cost and technical
difficulty of bridging until now," said Oscar Chambers. "Umbria's
Narni bridge is helping the decentralised community discover a host
of more efficient chains such as Fantom and access them cheaply,
quickly and easily."
Join Umbria's Twitter
Space on Thursday, 31st
March at 5pm
UTC where the team will be talking everything Fantom, AVAX, Polygon
and Binance Smart Chain:
https://twitter.com/i/spaces/1djGXPABzORGZ
Umbria is
looking to reach out to projects on Fantom that would benefit from
cheap and fast bridging. Any parties interested in a partnership
should fill out the Partnership Contact Request
form: https://partner.umbria.network/
-
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
https://umbria.network/
https://bridge.umbria.network/
Operating within
the DeFi and NFT space, Umbria Network enables anyone to migrate
cryptocurrency assets across chain cheaply and quickly and earn
high APYs on those assets with no impermanent
loss.
Umbria's flagship
Narni cross-chain bridge is solving current blockchain
interoperability issues. Narni removes the difficulty and expense
of moving assets between blockchains and is the fastest and
cheapest cross-chain liquidity bridge between the Ethereum and
Polygon networks. Narni eliminates the barriers to entry for
engaging with DeFi applications and NFTs making them much more
accessible to a wider audience.
The Umbria
ecosystem, built on Polygon, has three major protocols:
-
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 Narni bridge
-
A
Decentralised Exchange (DEX): an automated liquidity
protocol powered by a constant product formula, deployed using
smart contracts and governed entirely on-chain. Provides 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 -
francesca@onlineblockchain.io