LONDON, April 27, 2021 /PRNewswire/ -- The Umbria governance token (UMBR) has been added
to Polygon's token mapper paving the way for key Umbria DeFi
developments on Layer 2.
Umbria Network (https://umbria.network/) can now create a suite
of applications on Polygon, which will be part of the Umbria ecosystem. Polygon – formerly Matic –
provides scalable, secure and instant Ethereum transactions using
their plasma proof of stake chain. Users of Umbria Network will be
able to benefit from the fast, low-cost transactions (two second
blocks with approximately 1c transaction fees) and heightened user
experience that it affords.
Umbria will start developing
its Decentralized Exchange's (DEX) features on Polygon's chain and
can now fulfil bounty programs and airdrops and create
farms and other DeFi products within a faster and cheaper
environment.
"Token mapping of Umbria on
Polygon PoS chain https://twitter.com/0xPolygon opens the door
for our development on Layer 2 and a range of exciting
opportunities for the Umbria
protocol," said Barney Chambers,
co-lead developer at Umbria.
"Polygon have been instrumental in helping drive the project
forward and the next few months are going to be filled with
exciting innovation."
"We're pleased to welcome Umbria's ecosystem of DeFi products to
Polygon, and we look forward to demystifying DeFi and making it
accessible for the next wave of users in collaboration with
Umbria," said Arjun Kalsy, VP Growth - Polygon (previously
Matic Network).
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
Head over to the Umbria
Discord channel, Telegram, Instagram, Twitter, Facebook or LinkedIn
to find out more about the project. Become part of the
journey.
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. Using cutting
edge-layer two technology developed by Polygon, Umbria is developing a suite of popular DeFi
features at fractional on-chain cost of many current DeFi platforms
with greater transaction speed (while maintaining all the
cryptographic security provided by Ethereum).
Umbria is available on Uniswap
and users can add liquidity to earn fees. The first Umbria Farm
went live on March 26th,
2021. 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 governance 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. The Umbria governance
token will also enable users in the network to take control over
decision-making and have voting power over the development and
governance of Umbria's
protocol.
UK-publicly listed Online Blockchain plc (LSE: OBC) is acting as
Umbria's coordinator,
administrator and advisor.
Contact Details:
Francesca De Franco
+44 (0)794-125-3135
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SOURCE Online Blockchain plc