Thursday 2 September 2021 5:39 pm

Crypto AM is delighted to announce Umbria Network as a Silver Partner

A message from Umbria…

A core challenge for the adoption of decentralised finance is the extremely steep learning curve and high barrier of entry. The Umbria team is creating new DeFi solutions, which pave the way for mass adoption via easy-to-use, cheap, and quick applications. Umbria’s mission is to make DeFi accessible to everyone.

Crypto AM and its founder James Bowater have been early supporters of the project and we are thrilled to be partner at the upcoming Crypto AM London Blockchain & DeFi Summit and Crypto AM Awards. The partnership brings great value to us as the publication has such a strong footprint in the UK and is so highly rated amongst the crypto community.

DeFi innovation

Umbria is a Decentralised Finance protocol, which launched in early 2021 with the aim of demystifying and simplifying DeFi and allowing people to earn income on their assets. Its governance token $UMBR is available on Uniswap as well as Umbria’s DEX.

Our first partnership was with Polygon (formerly Matic), one of the most active Ethereum scaling solutions in existence today. Umbria is leveraging the solution to develop a suite of popular DeFi features at fractional on-chain cost and with greater transaction speed of many current DeFi platforms. Umbria is actively developing further collaborations in the space.

Umbria’s decentralised exchange (DEX) enables fast, low-cost swaps and liquidity providing for ERC-20 tokens.

We introduced farming as an incentive to provide liquidity to the DEX. Whenever a user adds liquidity to Umbria’s exchange, they receive LP tokens, which can be staked to earn bonus UMBR tokens every block. Our Polygon Network-based farm for staking UMBR and MATIC launched in May 2021.

The features allow users to earn interest on their cryptocurrency holdings and enjoy a high APY return on their investments.

Blockchain interoperability

Umbria is focused on creating a supreme user experience and promoting blockchain interoperability and compatibility.

Currently, anyone moving assets from Ethereum to the Polygon network can experience slow transaction speeds, high fees and the confusing technical challenge of configuring their cryptocurrency wallet to work with multiple chains.

To address this, Umbria has developed a first-of-its-kind interoperability bridge called Narni. By using a different transfer mechanism to comparable bridges, the Narni ‘insta” liquidity bridge ensures users can quickly and economically migrate assets from one network to another in a few clicks.

“We are moving towards being blockchain agnostic; ultimately Umbria’s bridge will realise full frictionless interoperability between a universe of chains.”

Barney Chambers, Co-lead developer of Umbria.

Umbria’s cross-chain bridge is an industry gamechanger that facilitates easier, quicker and cheaper transfer of assets between different blockchain ecosystems. The bridge’s unique function is its liquidity provision, which enables users to stake their tokens and earn APY like in traditional farming. The APYs in the Pool & Earn section are expected to be particularly high for stablecoins (Umbria has already announced the integration of USDT).

“We’re going to be rapidly introducing other assets with an initial focus on stablecoins. We are already seeing the staking feature of the Narni Bridge attracting yield farmers to provide valuable liquidity to bridge the Matic and Ethereum communities and in return providing themselves with a lucrative return on their crypto.”

Oscar Chambers, Co-lead developer of Umbria.

Transparency at the core

While being a pioneering project in a young industry means Umbria prizes tech innovation, the team’s also committed to providing transparency and credibility within a volatile space. It achieves this by having UK-publicly listed Online Blockchain plc acting as its coordinator, administrator and advisor.

Online Blockchain (LSE:OBC) has been an innovator and incubator in finance and technology for over 20 years and brings a high degree of expertise and credibility to Umbria. As a stock market listed company, OBC provides a level of transparency rare in the crypto and DeFi space.

We look forward to seeing you at the event. For further details, please visit: https://umbria.network/

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