Tag: Oscar Chambers

online-blockchain-plc:-cheap,-fast-and-easy-bridging-of-matic-on-umbria-network

Online Blockchain plc: Cheap, Fast and Easy Bridging of MATIC on Umbria Network

November 22, 2021 Published by

 

MATIC, the native token for the Polygon Network, can be migrated cross-chain almost instantly and at minimal cost using Umbria’s Narni Bridge – bridge.umbria.network.

The popular token, which is currently ranked 20 of all crypto assets in terms of market cap, can be transferred with the Narni Bridge at approximately a 90% discount to other solutions. A typical transaction for MATIC takes less than four minutes and often costs just $4-$9 to transfer from Ethereum to Polygon.

In addition to benefitting from incredibly fast and inexpensive transactions, users of Narni can put their $MATIC to work by lending it to the bridge to earn interest on this asset. With Narni’s ‘pool and earn’ feature (https://bridge.umbria.network/pool/), liquidity providers (LPs) receive fees when other participants bridge MATIC between networks.

The ‘pool and earn’ feature is particularly lucrative for anyone staking $UMBR – Umbria’s governance token. These liquidity providers earn their share of a 0.3% fee, whenever anyone transfers any of the assets supported by the bridge (including MATIC) cross-chain. The rewards earned are paid in the assets used to bridge between networks and are added to the staking balance of each token on the respective network. Unlike many other platforms, where users provide liquidity as a pair of two different tokens and can lose upside due to the change in value of the underlying assets, on Narni there is no impermanent loss as only one asset is provided as liquidity.

Wednseday 17th, November saw the Narni bridge record its highest volume of transactions.

“Polygon solves many of the significant limitations of the Ethreum Network chiefly poor throughput and high gas fees, which is making it an increasingly popular platform for DeFi and NFT projects to build on including ourselves,” said Oscar Chambers, Co-lead developer at Umbria. “As its market share and TVL increases so does interest in its native token MATIC. We’re seeing this first hand and are thrilled to enable users to bridge this asset incredibly cheaply, easily and quickly; and to earn APY.”

For more information about the bridge see the Umbria documentation page: bridge.umbria.network/docs and for feedback, questions and the very latest news about the Narni Bridge please head to our Discord channel.

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

online-blockchain-plc:-cheap,-fast-and-easy-bridging-of-aavegotchi’s-ghst-token-on-umbria-network

Online Blockchain plc: Cheap, Fast and Easy Bridging of Aavegotchi’s GHST Token on Umbria Network

October 11, 2021 Published by

 

Umbria Network’s Narni Bridge now supports the cross-chain migration of Aavegotchi’s GHST token between the Ethereum and Polygon networks.

GHST tokens are used to buy DeFi-powered ‘Gotchi’ avatars – playable NFTs – and other goods in the popular Aavegotchi game, which is integrated into the AAVE DeFi platform. With the Narni Bridge, GHST can be transferred for less than half the price and 10 times faster than is possible with the current bridging solution used for Aavegotchi.

Another key benefit for GHST holders is they can earn APY by lending their asset to the Narni Bridge in a system called pooling – https://bridge.umbria.network/pool. In return for ‘staking’ in the pool, liquidity providers earn a 0.2% fee whenever other users bridge the GHST token between networks. The pool pays the GHST token to liquidity providers (with no impermanent loss) in a scenario similar to a traditional farm. Their rewards are auto-harvested every five minutes and there is no lock-up period meaning tokens can be un-staked at any time. The APY for current GHST liquidity providers has been up to 255%.

Find out more here: Umbria Narni Bridge x Aavegotchi: First Look 

There are extra earnings on offer for those who have staked UMBR (Umbria’s native governance token) in the bridge. These liquidity providers receive their share of 0.3% of all fees generated across all assets on the bridge – including GHST – for the network to which they provided the UMBR liquidity. This affords the opportunity to generate passive income on all tokens available on Narni. These rewards are added to the staking balance of each token on the respective network.

“The intersection of DeFi, gaming and NFTs is an exciting and growing area. It creates yet more demand and opportunity for the Narni Bridge and the ultra-fast and cheap bridging it provides,” said Oscar Chambers, co-lead developer at Umbria Network. “We’ve already seen major adoption from NFT communities such as Zed Run and we’re now delighted to be working with Aavegotchi to deliver a superior user experience to their community.”

“The timing of this couldn’t be better. Umbria’s solution represents a huge improvement for bridging GHST at a time when we are focusing a lot of energy on also making our Aavegotchi NFTs multichain,” says Aavegotchi summoner Jesse Johnson.

online-blockchain-plc:-matic-and-eth-added-to-umbria-network’s-narni-cross-chain-bridge

Online Blockchain plc: MATIC and ETH Added to Umbria Network’s Narni Cross-chain Bridge

September 20, 2021 Published by

 

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: bridge.umbria.network/docs.

“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 Narni Bridge.”

Go to the Discord and Twitter channels for the very latest product development news.

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

online-blockchain-plc:-cheap,-fast-and-easy-bridging-of-usdt-now-available-on-umbria-network

Online Blockchain plc: Cheap, Fast and Easy Bridging of USDT Now Available on Umbria Network

August 31, 2021 Published by

 

USDT can now be migrated cross-chain almost instantly and at minimal cost using Umbria’s Narni Bridge – bridge.umbria.network.

In addition to bridging the stablecoin quickly between the Ethereum Mainnet and Polygon network with extremely low fees, users can lend their USDT to the bridge in a system called pooling and earn APY (a return similar to interest on deposits). With Narni’s ‘pool and earn’ feature (https://bridge.umbria.network/pool/), liquidity providers receive fees when other participants bridge USDT between networks. Stablecoins are expected to accrue higher fee generation because of their popularity and uses.

Using the Narni bridge, it takes an average of 47 seconds at an average cost of just $2.80 to transfer USDT from the Ethereum network to the Polygon network (formerly Matic). Transferring USDT from Polygon to Ethereum takes an average of two minutes 12 seconds and costs on average $5.62. This is groundbreakingly quick and inexpensive with other methods costing many times more and taking much longer.

“With Narni, it’s a lot easier for people to use their crypto assets across different networks, and the addition of USDT is another milestone,” said Oscar Chambers, Co-lead developer of Umbria. “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 provide themselves with a lucrative return on their crypto.”

For more information about the bridge see the Umbria documentation page: bridge.umbria.network/docs and for feedback, questions and the very latest news about the Narni Bridge please head to our Discord channel.

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

online-blockchain-plc:-umbria-defi-protocol-releases-exceptional-results-for-cross-chain-transfer-of-usdt

Online Blockchain plc: Umbria DeFi protocol releases exceptional results for cross-chain transfer of USDT

July 21, 2021 Published by

 

The testing of Umbria Network’s cross-chain Narni bridge is in its final stages.

Narni will enable users to move ERC-20 tokens securely from one blockchain network to another cheaply, quickly and easily. In testing, moving USDT from the Ethereum network to the Polygon network (formerly Matic) took an average of 47 seconds and cost just $2.80; Polygon to Ethereum took an average of two minutes 12 seconds and cost $5.62. This is significantly faster and cheaper than the Polygon web wallet bridge, which can cost upwards of $200 and take several hours for a transaction to complete.

Umbria – https://umbria.network/ – has identified that no current bridging system facilitates the movement of large amounts of crypto assets from one blockchain to another in a cost-effective, fast and easy-to-understand way. Narni Bridge is being developed to make the whole ecosystem more efficient and remove the barriers that users presently experience. It will allow participants to capitalise on arbitrage opportunities effortlessly and at fractional cost.

Narni will empower users to rapidly migrate liquidity in high orders of magnitude from any decentralised exchange on any EVM compatible blockchain into Umbria’s DEX. This will alleviate the friction point other exchanges currently experience due to being confined to a single network.

As well as enabling the transfer of assets between chains, the Narni bridge will reward participants for providing liquidity in a new type of farming, which is unlike that of a traditional AMM style of exchange, traditional farms or vaults. Those staking single assets (as opposed to pairs) on the bridge will earn APY, the highest rate of which is expected for stablecoin farmers. The auto-harvesting feature of Narni will also save users money and is part of Umbria’s drive to make the experience as fruitful as possible for liquidity providers.

“Umbria will have a bridge, which allows people to potentially transfer all their assets very easily from any DEX – such as Uniswap or SushiSwap – on any EVM compatible blockchain into the Umbria protocol. This will give Umbria a massive advantage over many of its DeFi competitors,” said Oscar Chambers, Co-lead developer of Umbria. “Umbria is going to be like the mothership with lots of people passing through its ecosystem as they move from one corner of the DeFi space to the other.”

online-blockchain-plc:-umbria-announces-alpha-version-of-its-layer-2-dex

Online Blockchain plc: Umbria announces alpha version of its Layer 2 DEX

May 11, 2021 Published by

 

The first phase of Umbria Network’s DEX development has been completed.

The DeFi protocol’s trading platform is fully functional with asset swaps and liquidity provision both successfully tested. Umbria – https://umbria.network/ -, which was recently mapped on Polygon (formerly Matic), will enable its users to benefit from fast, fractional cost transactions when using its developing suite of features. On testing, the transaction fees for swapping ERC20 tokens were less than $0.001. The Layer 2 DEX is a modified version of SushiSwap with extra governance features.

The Umbria token list, which includes the ERC20 assets that users will be able to swap and provide liquidity for on Umbria DEX, can be viewed here.

The development team is currently building out the user interface with asset swapping on the Umbria DEX and official liquidity pools (that will provide bonus UMBR for liquidity providers) scheduled for Q3 of 2021, which is in line with its roadmap.

The next farm – https://farm.umbria.network/ – on the Umbria platform will be on Polygon chain and will be for the UMBR-MATIC liquidity pair. It will work in a similar way to Umbria’s existing Ethereum farm but fees to enter and exit will be much lower. The team will continue creating farms with the most favourable APY possible.

“We’re very pleased with the liquidity we’re seeing for UMBR-ETH and we will enable people to easily migrate this liquidity directly from Uniswap onto the Umbria DEX,” said Oscar Chambers, Co-lead developer of Umbria.  “There are many developments and features in the pipeline, which will get our community excited. Fast, low-cost transactions and attractive APY are key for the project.”

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.

umbria-announces-alpha-version-of-its-layer-2-dex

Umbria announces alpha version of its Layer 2 DEX

May 11, 2021 Published by

 

The DeFi protocol’s trading platform is fully functional with asset swaps and liquidity provision both successfully tested. Umbria – https://umbria.network/ -, which was recently mapped on Polygon (formerly Matic), will enable its users to benefit from fast, fractional cost transactions when using its developing suite of features. On testing, the transaction fees for swapping ERC20 tokens were less than $0.001. The Layer 2 DEX is a modified version of SushiSwap with extra governance features.

The Umbria token list, which includes the ERC20 assets that users will be able to swap and provide liquidity for on Umbria DEX, can be viewed here.

The development team is currently building out the user interface with asset swapping on the Umbria DEX and official liquidity pools (that will provide bonus UMBR for liquidity providers) scheduled for Q3 of 2021, which is in line with its roadmap.

The next farm – https://farm.umbria.network/ – on the Umbria platform will be on Polygon chain and will be for the UMBR-MATIC liquidity pair. It will work in a similar way to Umbria’s existing Ethereum farm but fees to enter and exit will be much lower. The team will continue creating farms with the most favourable APY possible.

“We’re very pleased with the liquidity we’re seeing for UMBR-ETH and we will enable people to easily migrate this liquidity directly from Uniswap onto the Umbria DEX,” said Oscar Chambers, Co-lead developer of Umbria.  “There are many developments and features in the pipeline, which will get our community excited. Fast, low-cost transactions and attractive APY are key for the project.”

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.

umbria-network-announces-second-airdrop-of-100,000-umbr-tokens

Umbria Network Announces Second Airdrop of 100,000 UMBR Tokens

April 12, 2021 Published by

 

Umbria – the layer 2 DeFi protocol – is implementing another round of free distribution of its native governance token ($UMBR).

Anyone holding a minimum of 100 UMBR or two UMBR-ETH Liquidity Pool (LP) tokens at the time of the snapshot will be eligible to claim a share of the 100,000 UMBR airdrop directly into their MetaMask wallet on May 15th. Those who have staked their UMBR-ETH LP tokens in the Umbria Farm will also qualify whilst simultaneously earning an attractive APY.1

The amount of UMBR airdropped to participants will be proportional to their UMBR and UMBR-ETH LP holdings (or stake) relative to the total amount of tokens held by the community at the time of the snapshot. UMBR holders will receive a portion of 33.4% of the 100,000 UMBR airdrop allocation and those that provide liquidity to the UMBR-ETH liquidity pool in Uniswap will receive a share of an allotted 66.6% on the 15th of May.

The snapshot of the Ethereum blockchain will be taken on April 15th at 5pm BST and will take note of all holders of each token. Those eligible need to visit airdrop.umbria.network and press the “Claim Airdrop” button on May 15th to get their share of the airdrop.

Further details can be found here: https://airdropalert.com/umbria-airdrop and more information is included in the Airdrop FAQs. The Umbria Airdrop Bounty Program offers a number of ways to earn UMBR in return for completing different social media tasks to help promote the Umbria Airdrop. Find out more by visiting our Medium blog.

Umbria (https://umbria.network/) is an opensource project on a mission to demystify and simplify DeFi and get people earning income on their crypto. The project’s governance token

UMBR is available on Uniswap. UMBR-ETH Liquidity Pool Tokens – which qualify for a larger proportion of the airdrop – are obtained by adding liquidity to the UMBR-ETH Liquidity Pool on Uniswap; the pool recently hit $1 million in liquidity.

“The first airdrop was very well received and we’re seeing a lot of UMBR holders depositing into the Umbria Farm to additionally capitalise, which is great for the whole Umbria Network ecosystem,” said Oscar Chambers, Co-Lead Developer at Umbria. “With the next airdrop we’re looking forward to rewarding existing holders further and introducing new participants at this early adoption stage.”

online-blockchain-plc:-umbria-defi-launches-airdrop-bounty-program-to-reward-social-media-marketers

Online Blockchain plc: Umbria DeFi Launches Airdrop Bounty Program to Reward Social Media Marketers

March 10, 2021 Published by

 

Decentralised Finance (DeFi) protocol Umbria has initiated the first phase of its bounty program.

Umbria – https://umbria.network/– is inviting crypto enthusiasts with social media flair to spread the word about the project’s upcoming Airdrop and earn $UMBR in return. By performing specific social media tasks, participants will be rewarded with varying amounts of Umbria protocol’s governance token (currently traded on Uniswap).

Anyone creating approved content relating to the Umbria Airdrop such as YouTube videos, blog posts and infographics or raising awareness on social media platforms including Twitter, Facebook, Quora, LinkedIn, TikTok, Bitcointalk or Reddit will be paid in UMBR. The full details and list of social media activities and bounty available can be viewed here.

To claim the rewards for completing an Airdrop-specific bounty task, proof should be submitted to the bounty-program channel of Umbria’s Discord. Once verified, participants will receive Umbria through the Polygon sidechain directly into their Metamask[1] wallet. 10,000 UMBR has been allocated for this initial part of the bounty program.

Umbria, whose governance utility token UMBR can be bought, swapped and added to liquidity pools on Uniswap, recently took the snapshot for its first Airdrop, which will take place on April 2nd: Umbria DeFi Platform Announces First Airdrop of its UMBR Token

The next snapshot (snapshot of the ledger to determine existing UMBR holders) for the second airdrop will take place on April 15th.

  • Users who hold 100 UMBR will receive a portion of 33.4% of the 100,000 UMBR airdrop allocation relative to the total amount of tokens held by the community on the 15th May
  • Umbria holders who provide liquidity to the UMBR-ETH LP pool in Uniswap will receive a portion of 66.6% of the 100,000 UMBR airdrop relative to the total amount of LP tokens held by the community on the 15th May
  • The number of tokens received will be a percentage of the airdrop divided by the total UMBR and UMBR-ETH held by the community. This value is calculated at the time of the snapshot

“We want the community to spread the word, engage and interact with the brand and earn Umbria,” said Oscar Chambers, co-founder and co-lead developer of Umbria. “We’ve seen a lot of interest surrounding the first airdrop and the project in general and want to organically build on this and get more people involved and reaping the benefits.”

If you are interested in becoming an official Umbria Ambassador and earning additional UMBR please get in touch at [email protected] using the subject ‘Brand Ambassador’ in your email.

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