Introducing Umbria’s Narni Bridge
The Ethereum blockchain is hampered by the well-documented issues of lack of scalability and high transaction fees. This has been the catalyst for a number of projects looking at alternative platforms such as Binance Smart Chain and Polkadot to build their DeFi projects upon; for Umbria it’s Polygon (formerly Matic).
This mélange of ecosystems inevitably means liquidity becomes diluted and DeFi participants struggle to find projects with acceptable amounts of liquidity. Interoperability is therefore another obstacle for DeFi applications to navigate.
Umbria’s Narni Bridge
Umbria is in advanced development of a first-of-its-kind blockchain bridge. It will solve the interoperability issue with easier, quicker and cheaper transfer of assets between different blockchains. This will help facilitate frictionless liquidity migration.
The Umbria development team 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 blockchains.
By using a different transfer mechanism to comparable bridges, the Narni ‘insta-bridge’ will ensure users can quickly and economically migrate assets from one network to another in just a few clicks. The Narni insta-bridge will also automatically suggest the correct configuration for Metamask to track assets on the pertinent networks.
Narni will make the superior features afforded by the Umbria DEX and Umbria farms much easier and cheaper to access, opening up the platform to a wider audience. Another key feature will be the ability to provide liquidity to the bridge to earn high APY. On launch, this facility will be available for UMBR on both the Ethereum and Polygon networks and will be quickly extended to other assets.
Providing liquidity — high APY
Liquidity provision on the Narni bridge will be a compelling proposition for stablecoin farmers, who can usually only generate low APY when pooling their stablecoin assets. The developers of Narni expect the majority of bridged assets to be stablecoins such as USDT and USDC — subsequently earning a large volume of fees for the liquidity providers. These fees will potentially generate far greater APYs than those offered in traditional DeFi farming as liquidity is used more efficiently than in traditional AMM pools.
Narni Bridge LIVE STREAM AMA with The Schiller — July 5th (7pm BST)
Join our conversation on how to make cross chain transactions fast and easy.
We’re very happy to announce that Umbria’s co-lead developers and co-founders Barney and Oscar Chambers are doing a LIVE stream AMA with Steven Schill.
They’ll be returning to The Schiller’s Twitch channel for what promises to be a very entertaining interview to talk all things Narni Bridge.
Find out when the Narni bridge will be going live for transferring UMBR between the Ethereum Mainnet and Matic Mainnet and the roadmap for adding other assets and integrating with other EVM compatible chains.
Get the inside track on how you’ll be able to provide liquidity to the bridge to earn high APY and why this will be a particularly compelling proposition for stablecoin farmers. Plus, get a sneak preview of other features and future plans…
Join us at: https://www.twitch.tv/von_schiller
When: 5th July at 7pm UK time (2pm EST)
Get your questions ready to ask live!