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- 1 Umbria Network is one of the cheapest and fastest cross-chain bridges powered by a capital-efficient liquidity provision protocol.
- 2 Deployed in 2021, the network accounts to solve blockchain interoperability issues by mitigating challenges and expenses of moving assets.
- 3 UMBR, Umbria Network’s native token, has a total supply of 5,792,260.898.
The Umbria ecosystem, built over the Polygon network, offers individuals a wide range of services. The network made it effortless for any individual to migrate digital assets across the chain quickly, and cheaply with no impermanent loss.
The network blends an innovative liquidity-supply mechanism that boosts and mitigates the expenses of cross-chain bridging. Token swapping, cross-chain bridging, liquidity provision, and farming are key services offered by the network.
What is Umbria Network?
Founded by Barney and Oscar Chambers, Umbria is one of the fastest and most affordable cross-chain liquidity bridges between Ethereum and Polygon, BSC, Fantom, Arbitrium, and AVAX.
The Umbria Ecosystem is constructed over three major protocols including a cross-chain asset bridge, staking pool, and decentralized exchange (DEX).
These protocols made cryptocurrency management, swapping, and liquidity processes faster and cheaper.
The network also partnered with some of the top DeFi and NFT platforms like Polygon, Avalanche, Clover, Optimism, Arbitrum, Fantom etc. to offer efficient cross-chain transactions in the cryptocurrency space.
Exploring the product list, Ethereum to Polygon Bridge, Bridge Staking pool, Metamask connect portal, and Cross-chain bridge widget are products of Umbria network whereas Bridge ETH from Ethereum to Binance smart chain, and Bridge ETH from Binance smart chain to Ethereum are some popular bridges.
In addition to this, the Umbria Network has a decent presence in the NFT space – a collection of 10,000 unique NFTs on a mission to save individuals from high gas fees. The NFT project also spread the world about the Narni Bridge, a bridging solution between Ethereum and Polygon.
How Does the Network Work?
Analyzing the workings of the Umbria Network, the network operates differently from the traditional cross-chain bridges. The network handles cross-chain transactions by accepting assets on one chain and distributing the corresponding assets on the target chain.
The network exercises an innovative liquidity-supply mechanism that boosts and reduces expenses. This is done by streamlining the cross-chain movement of assets by sustaining cryptocurrencies on multiple chains concurrent with liquidity pools.
The lack of dependency on validator smart contracts makes the network stand out of the game, helping the network execute cross-chain transactions at a considerably lower cost.
Why is the Fastest Cross-Chain Bridge Unique?
The cross-bridge network is bi-directional which makes the network unique. The network facilitates the cross-chain bridging assets from Layer 2 to Ethereum or from Ethereum to Layer 2 with cost and speed.
Another benefit of the network is its potential to support the network’s native assets including Ether on Ethereum, or MATIC on Polygon. Also, the network does not require digital assets to be tokenized using the smart contract. Additional benefits include:
- No extra costly wrapping step.
- Fewer gas fees than ERC-20 token transactions.
- No requirement of asset unwrapping after bridging.
UMBR Tokenomics
UMBR is the governance token of Umbiar Network and can be staked from the bridge to earn up to 60% of the portion of all fee rewards.
The token holds a total supply of 5,792,260.898 UMBR and there will be a maximum of 10 Million UMBR tokens streaming over the Ethereum Mainnet and Polygon PoS Chain.
A portion of pre-minted tokens in the network are staked through Umbria Decentralized Autonomous Organization (DAO) to fund the development and increase tokens from time to time.
How to Buy UMBR
The token can’t be purchased directly from any of the exchanges and requires ETH to make a purchase. UMBR crypto is all set to expand its strong roots in the crypto marketplace soon. Here are a few steps to consider to buy a UMBR token.
- Downloading a wallet is the very first step.
- The next step is to buy ETH from a trusted crypto marketplace and store the same to the crypto wallet.
- Connect MetaMask or the chosen wallet to the best price aggregator to make a purchase.
- Clicking the Swap icon and choosing the asset will help in making a final purchase.
Conclusion
Umbria Network is a fast and cheap cross-chain bridge that allows users to move assets between different blockchains. It has an innovative liquidity-supply mechanism, native token UMBR, and NFT collections. It has a variety of products and partnerships of the network, such as its Ethereum to Polygon Bridge, and its collaboration with Polygon, Avalanche, and others.
The UMBR coin can be purchased using ETH in the wallet. The UMBR token can’t be purchased directly with cash/ credit card or any other payment mode.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
