Online Blockchain PLC MATIC & ETH Added to Umbria Network's Narni Bridge
Online Blockchain PLC
20 September 2021
September 20th, 2021
Online Blockchain plc: MATIC and ETH Added to Umbria Network's
Narni Cross-chain Bridge
Liquidity providers currently earning up to 70% APY on ETH with
Umbria's ultra-low-cost liquidity bridge now supports ETH and
MATIC in addition to USDT and UMBR.
Using Narni - https://bridge.umbria.network/ - the native tokens
for the Ethereum and Polygon networks can be transferred
exceptionally quickly and cheaply cross-chain. ETH, which was
launched first, can be bridged from the Ethereum to Polygon Network
for as little as $2.56 in gas, which is significantly less than
other bridges. This has caused the Narni Bridge to be adopted
rapidly by many DeFi participants and has especially caught the
attention of the Zed Run community, who had previously been
hampered by prohibitively expensive gas fees.
Another considerable advantage of the Narni Bridge is the APY it
pays liquidity providers. Its 'Pool and Earn' function (
https://bridge.umbria.network/pool/ ) enables users to lend their
MATIC and ETH (and other assets) to the bridge and earn APY when
other participants bridge that specific token between networks.
Anyone currently providing ETH to the Polygon pool has received up
to an astounding 70% APY with no impermanent loss.
Further information can be found here:
" We're seeing great momentum now with the Narni bridge and a
very pleasing increase in Total Value Locked (TVL). Lots of people
are bridging, which in turn attracts more liquidity providers who
are enticed by the interest they can earn on the asset they
supply," said Oscar Chambers, Co-lead developer of Umbria. "More
chains and assets are coming online imminently; we'd love to hear
from the DeFi community about what they'd like to see next on the
Go to the Discord and Twitter channels for the very latest
product development news.
- Ends -
See the latest data on UMBR on CoinMarketCap and CoinGecko:
Umbria is a Decentralised Finance protocol, which is creating
low-cost and easy-to-use DeFi applications. Umbria aims to
demystify and simplify DeFi and get people earning income on their
Umbria's first partnership - with Polygon - is seeing it use
Polygon's Ethereum scaling solution to develop a suite of popular
DeFi features at fractional on-chain cost of many current DeFi
platforms with greater transaction speed. Umbria is actively
developing further collaborations in the DeFi space.
Umbria's Layer 2 Decentralised Exchange (DEX) and farm for its
native governance token UMBR and the popular MATIC token launched
in May 2021. This farm and the previous one have been characterised
by consistently high APY.
Umbria's cross-chain bridge (Narni) - an industry game changer -
facilitates easier, quicker and cheaper transfer of assets between
different blockchain ecosystems. The bridge also enables people to
stake their tokens and earn APY like they would in traditional
farming. The APY is expected to be particularly attractive for
Its governance token $UMBR is available on Uniswap as well as
Umbria's DEX. Other facilities will continue to come online which
will utilise the Umbria protocol and its governance token.
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.
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(END) Dow Jones Newswires
September 20, 2021 02:00 ET (06:00 GMT)
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