LONDON, UK, April 26, 2022 (GLOBE NEWSWIRE) — Umbria ($UMBR) is pleased to announce the official launch of its Arbitrum Bridge, which is the fourth cross-chain bridge to be added to the site this year will.
The Narni Bridge – https://bridge.umbria.network/ – now enables the cheapest and fastest movement of $ETH in the market between the Ethereum mainnet and Arbitrum One, the chain implementing Arbitrum’s technology. Layer 2 scaling solution Arbitrum currently has a Total Value Locked (TVL)i of $3.72 billion, making its inclusion on the Umbria platform a priority alongside its existing cross-chain bridges.
Narni price comparison tests against the official Arbitrum bridge returned the following results:
Narni Bridge: Ethereum to Arbiter One
Costs: $2.61 ($6.52 with gas price normalized to 100 Gwei).
Speed: 4 minutes and 19 seconds.
Official bridge umpire: Ethereum to Arbiter One
Costs: $17.68 ($28.25 with gas price normalized to 100 Gwei).
Speed: 6 minutes and 45 seconds.
https://bridge.umbria.network/bridge/ethereum-arbitrum/eth
Watch the comparison video here: https://www.youtube.com/watch?v=8sl3E8uUiy0&t=4s
Narni uses a novel liquidity lending protocol that hosts liquidity pools of individual assets on different networks. In addition to significantly speeding up and reducing transaction costs, it generates fee-based rewards for liquidity providers that add a single asset to the bridge. Whenever a participant migrates assets between two cryptocurrency networks using Narni, the liquidity providers receive a 0.2% share of the native crypto/token they provide. There are particularly lucrative rewards for those who stake $UMBR – Umbria’s governance token. These liquidity providers earn their share of a 0.3% fee when someone transfers ANY of the assets supported by the bridge. The APYs can be viewed here: https://bridge.umbria.network/staking-pool/
Besides Arbitrum, Umbria currently offers the fastest and cheapest bridging from Ethereum network to Polygon network, Avalanche network, Binance Smart Chain and Fantom (and vice versa).
“Arbitrum One – an Optimistic Rollup that settles Ethereum transactions off-chain – is gaining popularity among NFT and DeFi projects due to its low transaction costs, speed and high security,” said Barney Chambers, co-founder/co-lead developer of Umbria . “This accelerating demand, which in turn increases the demand for cheap and fast asset transfer solutions, made it a natural choice as the next bridge for integration on our platform. We expect a high volume of bridging between the Ethereum and Arbitrum networks.”
Join Umbria’s next Twitter space on Thursday 5 May at 17:00 UTC: https://twitter.com/i/spaces/1rmxPgmabEZJN?s=20
Umbria is looking for projects on Arbitrum that would benefit from cheap and fast bridging. All parties interested in partnership should fill out the partnership contact request form: https://partner.umbria.network/
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Check out the latest data on UMBR on CoinMarketCap and CoinGecko:
https://coinmarketcap.com/currencies/umbria-network/news/
https://www.coingecko.com/en/coins/umbria-network
About Umbria
https://umbria.network/
https://bridge.umbria.network/
Operating in the DeFi and NFT space, the Umbria Network allows anyone to cheaply and quickly migrate cryptocurrency assets across the chain and earn high APYs on these assets with no fickle loss.
Umbria’s flagship Narni Cross-Chain Bridge solves current blockchain interoperability issues. Eliminating the hassle and cost of moving assets between blockchains, Narni is the fastest and cheapest cross-chain liquidity bridge between the Ethereum and Polygon networks. Narni removes the barriers to entry for engaging in DeFi applications and NFTs, making them much more accessible to a wider audience.
The Umbria ecosystem built on Polygon has three main protocols:
- A cross-chain asset bridge: enables fast 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 based on a constant product formula, deployed using smart contracts and fully managed on-chain. Offers fast and cheap token swapping
UK-listed Online Blockchain plc (LSE: OBC) acts as coordinator, administrator and advisor to Umbria. This offers a level of transparency that is rare in the DeFi space.
i According to L2 Beat – https://l2beat.com/projects/arbitrum/
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