London, UK, April 26, 2022 (GLOBE NEWSWIRE) — Umbria ($UMBR) is pleased to announce the official launch of its Arbitrum Bridge, marking the fourth cross-chain bridge to be added to the site this year.
The Narni Bridge – https://bridge.umbria.network/ – now facilitates the cheapest and fastest market movement of $ETH between Ethereum Mainnet and Arbitrum One, the chain implementing Arbitrum’s technology. Layer 2 scaling solution Arbitrum currently has $3.72 billion in total value locked (TVL)Iwhich has made it a priority to be included on the Umbria Platform alongside its existing stable of cross bridges.
Narni’s price comparison tests against the official Arbitrum deck provided the following results:
Narni Bridge: Ethereum to Arbitrum One
Cost: $2.61 ($6.52 with gas price normalized to 100 Gwei).
Speed: 4 minutes and 19 seconds.
Official Arbitrum Bridge: Ethereum at Arbitrum One
Cost: $17.68 ($28.25 with gas price normalized to 100 Gwei).
Speed: 6 minutes and 45 seconds.
See the comparative demonstration video here: https://www.youtube.com/watch?v=8sl3E8uUiy0&t=4s
Narni uses a new liquidity lending protocol, which hosts singular asset liquidity pools on different networks. In addition to dramatically speeding up and reducing transaction costs, it generates fee-based rewards for liquidity providers who add a single asset to the deck. Each time a participant migrates assets between two cryptocurrency networks using Narni, the liquidity providers receive a 0.2% fee share on the native crypto/token they provided. There are particularly lucrative rewards for anyone who stakes $UMBR – Umbria’s governance token. These liquidity providers earn their share of the 0.3% fee each time someone transfers ANY of the assets supported by the bridge. The APYs can be viewed here: https://bridge.umbria.network/staking-pool/
In addition to Arbitrum, Umbria currently provides the fastest and cheapest bridge between the Ethereum network and the Polygon network, Avalanche network, Binance Smart Chain, and Fantom (and vice versa).
“Arbitrum One — a bullish rollup that settles Ethereum transactions off-chain — is becoming increasingly popular with NFT and DeFi projects due to its low transaction costs, speed, and high security,” Barney Chambers said. , co-founder/co-lead developer of Umbria. . “This growing demand, which in turn increases the demand for cheap and fast solutions for asset transfer, has made it a natural choice as the next integration bridge on our platform. We expect high volumes of bridges between the Ethereum and Arbitrum networks.”
Join the next Twitter space of Umbria on Thursday 5and May at 17:00 UTC: https://twitter.com/i/spaces/1rmxPgmabEZJN?s=20
Umbria is looking to reach projects on Arbitrum that would benefit from cheap and fast bridging. Any party interested in a partnership must complete the partnership contact request form: https://partner.umbria.network/
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Check out the latest data on UMBR on CoinMarketCap and CoinGecko:
Operating in the DeFi and NFT space, Umbria Network enables anyone to migrate cryptocurrency assets across the chain cheaply and quickly and earn high APYs on those assets without impermanent loss.
Umbria’s flagship Narni cross-chain bridge solves today’s blockchain interoperability issues. Narni removes the difficulty and expense of moving assets between blockchains and provides the fastest and cheapest cross-chain liquidity bridge between the Ethereum and Polygon networks. Narni removes barriers to entry to engage with DeFi applications and NFTs, making them much more accessible to a wider audience.
The Umbria ecosystem, built on Polygon, has three major protocols:
- A cross-chain asset bridge: Enables the quick and cheap transfer of assets between otherwise incompatible blockchains and cryptocurrency networks.
- A staking pool: users can earn interest on their crypto-assets by providing liquidity to the Narni Bridge
- A decentralized exchange (DEX): an automated liquidity protocol powered by a constant product formula, deployed using smart contracts and governed entirely on-chain. Provides fast and cheap token exchange
UK-listed Online Blockchain plc (LSE: OBC) acts as Umbria’s coordinator, administrator and advisor. This offers a level of transparency rare in the DeFi space.
I According to L2 Beat – https://l2beat.com/projects/arbitrum/