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

 

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.

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

Umbria Network Announces Second Airdrop of 100,000 UMBR Tokens

 

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:-umbria-partners-with-polygon-to-leverage-defi-protocol

Online Blockchain: Umbria Partners with Polygon to Leverage DeFi Protocol

 

Umbria Network, a decentralized finance platform on the Ethereum blockchain – https://umbria.network, is proud to announce that it will be deploying its suite of applications on Polygon (previously Matic Network).

Polygon – which has vast experience and presence in the DeFi space – provides scalable, secure and instant Ethereum transactions using Plasma side chains and a Proof-of-Stake network. It is one of the most active layer-2 Ethereum scaling solutions in existence today. Its Developer Support Program is designed to help developers overcome difficulties they may face while developing Blockchain-based applications. It helps those building on Polygon to thrive via:

  • Early support grants
  • Technical guidance from its team and network
  • Security audit support
  • Marketing and promotional support
  • Help with investor connections

The Umbria team has decided to build its applications on the Polygon network due to its EVM compatibility; high speed, low cost transactions and the overall composability of the network.

The Umbria roadmap outlines a release of its DeFi platform with Polygon side-chain integration on the Mainnet by Q3 of 2021. The DeFi platform recently released its governance token on UniSwap, which will be used to vote on future changes to the protocol.

“We are incredibly excited about our new partnership with Polygon and look forward to collaborating with the team to achieve our common aim of bringing DeFi to the masses by removing barriers to entry,” said Barney Chambers, co-lead developer at Umbria. “The technical and marketing support provided by Polygon will be invaluable in driving Umbria forward with the Polygon blockchain scalability platform making it the perfect solution for us.”

“We are happy to help the Umbria team build their suite of DeFi applications and are excited to partner with them on their journey to mass adoption,” said Arjun Kalsy, VP Growth – Polygon (previously Matic Network).