DeFi is the next wave in the crypto revolution. The opportunities and benefits are truly mind-boggling.
However, a core challenge for the adoption of decentralized finance is that it has an extremely steep learning curve with a high barrier of entry. Enter Umbria, a project on a mission to demystify and simplify DeFi and get people earning income on their crypto. What’s more, its governance token (UMBR) will give holders the ability to shape the future of the Umbria ecosystem itself.
Umbria is a decentralized protocol that enables DeFi (decentralised finance) applications on the Ethereum blockchain. As a team, we are focussed on creating accessible applications, which provide anyone – including those without a deep understanding of the technologies behind cryptocurrency and DeFi – a simple entry-point. The first app to be deployed on the Umbria network will enable users to accrue interest on their crypto (they can already earn from Umbria on Uniswap).
We began researching DeFi back in 2019 and successfully launched open source DeFi project forks on the Ethereum testing network (Ropsten). During our research phase we looked at the capabilities of the software underpinning the protocols and the user issues. We concluded that most popular DeFi platforms were totally inaccessible to people without a lot of technical knowledge and this represented a big opportunity for us to provide a user-friendly experience. After much testing, the Umbria utility governance token (UMBR) went live on the Ethereum network last week.
“Umbria is a collective effort. We are welding together the best technologies and features in the DeFi space onto a single platform in the hope of unlocking the mass adoption of DeFi.” – Oscar Chambers, Co-Lead Developer at Umbria.
Umbria governance token made available for early community adoption
Umbria is currently traded on the Uniswap exchange. The Uniswap pool is the first dispersal of the currency with an initial limited supply of 500,000 tokens; there is a capped maximum total supply of 10,000,000 Umbria. You can swap the Umbria utility governance token with Ethereum on Uniswap and vice versa as well as provide liquidity to the ETH/UMBRIA liquidity pool to earn fees. With the launch of its own Umbria token swap pools, you will be able to earn added Umbria in addition to fees as an incentive for providing liquidity for ERC20 tokens.
Farming, liquidity, pools, staking, governance
On the Umbria network (https://umbria.network/), users will gain access to a developing suite of services created with smart contracts. One of the initial features of Umbria will be to allow users to deposit cryptocurrency as liquidity in AMM (automated market making) pools to earn fees from token swapping. Users will receive fees taken from each transaction and also receive a bonus of Umbria tokens on top. This can lead to significant returns for liquidity providers especially when certain tokens are in fashion and large volumes of token swaps occur.
We will be launching new features and facilities on the Umbria protocol over time. As many projects are designed to be components that can be used by other projects, we will be taking that opportunity to embrace and expand on the best innovations in DeFi as and when they occur. The UMBR token is also the key to the protocol’s evolving governance mechanism where the holders of the token become the stakeholders of the project with the ultimate say in its development direction. Token based governance is set to revolutionise the way enterprise is run and we believe it will be a highly efficient and frictionless way to monetise while decentralising the Umbria protocol.
Rewarding early adopters
The Umbria Bounty program will begin very soon. Lighthouse customers will be rewarded for creating content, growing the community and generally engaging with, and getting others engaged with the project. We will also have the Umbria Airdrop, which will see early adopters of the token receiving an airdrop of UMBR directly into their wallets. You can find out more by visiting: https://airdrop.umbria.network/
“DeFi will dwarf even Bitcoin in the next 10 years. It will do for finance what the internet has done for information.”- Clem Chambers, CEO of Online Blockchain plc
Best of Both Worlds
Umbria is a community and open source project, which is experimental and pioneering by nature. However, it has UK-publicly listed Online Blockchain plc acting as its coordinator, administrator, developer and advisor. Online Blockchain (OBC) has been an innovator and incubator in finance and technology for over 20 years and brings a high level 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 are committed to creating a DeFi protocol for the benefit of the wider community and to help those with limited experience in cryptocurrency to take advantage of this new financial landscape. The future looks very bright for DeFi and Umbria. Climb aboard.