$USDC added to Umbria’s Cross-chain Narni Bridge
Our community has known for a little while now, but for the wider world there’s more great news about our Narni cross-chain liquidity bridge. You can now send $USDC between the Ethereum and Polygon networks groundbreakingly quickly and cheaply.
The stablecoin can be migrated cross-chain in under four minutes and typically for less than $10 in gas fees — https://bridge.umbria.network/
APY on your $USDC
The news gets even better though. $USDC holders can also lend their tokens (provide liquidity) to the bridge in the protocol’s Pool and Earn staking feature to earn APY https://bridge.umbria.network/pool/). As a liquidity provider you receive fees when anyone else bridges $USDC between networks.
Cheap bridging for ETH (and great APY)
The recent addition of ETH to the bridge has made waves in the DeFi community and has been a particularly huge hit with Zed Runners. The reason being that gas fees for transferring ETH from Ethereum to Polygon network are exceptionally low and can even be sub $2. Current ETH liquidity providers have been earning up to 99.99% APY by lending the asset to the bridge.
“Stablecoins are a particularly exciting proposition on the Narni Bridge as these assets traditionally attract nominal APY. However, as USDC and USDT are frequently bridged, we expect that they will soon be accruing higher fee generation and rewarding liquidity providers far more than we are used to seeing,” said Oscar Chambers, Co-lead developer of Umbria.