LONDON, Feb. 15, 2021 /PRNewswire/ -- Umbria Network, a
decentralized finance platform on the Ethereum blockchain -
https://umbria.network, is proud to announce that it will be
deploying its suite of applications on Polygon (previously Matic
Network).
Polygon - which has vast experience and presence in the DeFi
space - provides scalable, secure and instant Ethereum transactions
using Plasma side chains and a Proof-of-Stake network. It is one of
the most active layer-2 Ethereum scaling solutions in
existence today. Its Developer Support Program is designed to
help developers overcome difficulties they may face while
developing Blockchain-based applications. It helps those building
on Polygon to thrive via:
- Early support grants
- Technical guidance from its team and network
- Security audit support
- Marketing and promotional support
- Help with investor connections
The Umbria team has decided to
build its applications on the Polygon network due to its EVM
compatibility; high speed, low cost transactions and the
overall composability of the network.
The Umbria roadmap outlines a
release of its DeFi platform with Polygon side-chain integration on
the Mainnet by Q3 of 2021. The DeFi platform recently released its
governance token on UniSwap, which will be used to vote on future
changes to the protocol.
"We are incredibly excited about our new partnership with
Polygon and look forward to collaborating with the team to achieve
our common aim of bringing DeFi to the masses by removing barriers
to entry," said Barney Chambers,
co-lead developer at Umbria. "The
technical and marketing support provided by Polygon will be
invaluable in driving Umbria
forward with the Polygon blockchain scalability platform
making it the perfect solution for us."
"We are happy to help the Umbria team build their suite of DeFi
applications and are excited to partner with them on their journey
to mass adoption," said Arjun Kalsy, VP Growth - Polygon
(previously Matic Network).
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. On the Umbria network, anyone will gain access to a
developing suite of services created by smart contracts.
You can buy UMBR on UniSwap and 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 utility 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.
UK-publicly listed Online Blockchain plc (LSE: OBC) is acting as
Umbria's coordinator,
administrator and advisor.
Contact:
Francesca De Franco
+44 (0)794 125 3135
francescad@advfnplc.com
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SOURCE Online Blockchain