The first phase of Umbria Network’s DEX development has been completed.
Our trading platform is in alpha and fully functional with asset swaps and liquidity provision both successfully tested. On testing, the transaction fees for swapping ERC20 tokens were less than $0.001. Our 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.
Attention has now turned to building out the user interface. Asset swapping on the Umbria DEX and official liquidity pools (that will provide bonus UMBR for liquidity providers) are scheduled for Q3 of 2021, which is in line with our roadmap.
The next farm on the platform will be on Polygon (previously Matic Network) 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.
“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,” said Oscar Chambers, Co-lead developer of Umbria.