Umbria DAO, $UMBR Token and Tokenomics Explained
Umbria Network enables anyone to migrate cryptocurrency assets across chain cheaply and quickly via its Narni bridge.
Our DAO, which has UMBR as its governance token, is being developed progressively. We want to give the informed community as much power as possible to collaborate in the building/development of the best products and services for the Umbria ecosystem and ultimately drive the project’s Narni bridge to become the definitive cross-chain bridging solution.
UMBR token and DAO links
To be the fastest and cheapest bridge that connects to the most blockchains Our DAO, which has UMBR as its governance…
UMBR Token Utility
Bridge liquidity providers
Umbria incentivises all of its bridge liquidity providers. Anyone staking a single asset on a single network to the bridge protocol earns 40% of the bridging fee whenever someone uses the bridge to migrate that specific asset between cryptocurrency networks.
Liquidity providers staking $UMBR tokens to the bridge benefit further. They earn 60% of the bridging fee whenever someone bridges ANY asset supported by the bridge. This is paid every minute in ETH, MATIC, USDC, USDT, GHST, WBTC and UMBR with no impermanent loss.
Liquidity providers are free to unstake their liquidity at any time.
The UMBR token can be earned directly by farming UNIv2 UMBR-ETH LP tokens in the Umbria farm.
Liquidity providers receive Univ2 UMBR-ETH LP tokens by providing UMBR and ETH liquidity to the UMBR-ETH trading pair on Uniswap. Liquidity providers can stake the LP tokens in the Umbria farm to earn UMBR every block. LP stakers earn a proportionate share of 1 UMBR per minute. The farm will cease paying UMBR approximately three years after its launch.
How does the project make money?
The Umbria DAO stakes a portion of its pre-minted tokens in the bridge to fund development. The DAO generates revenue as a function of bridging volume. As bridge volume increases and more chains are added UMBR stakers earn a greater volume of fees. $UMBR stakers earn their share of a 0.3% fee whenever anyone transfers any of the assets supported by the bridge cross-chain.
Tokenomics at a glance
For further details view our Whitepaper here.
Any questions? Head to our Discord.