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Cheap, Fast and Easy Bridging of MATIC on Umbria Network -Breaking

by Mike Robinson

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Online Blockchain plc – Cheap, Quick and Easy Bridging MATIC on Umbria Network

MATIC, the native token for the Polygon Network, can be migrated cross-chain almost instantly and at minimal cost using Umbria’s Narni Bridge – bridge.umbria.network.

You can transfer the popular token using Narni Bridge for a roughly 90% discount on other solutions. MATIC transfers take around four minutes. Transfers from Polygon often cost between $4 and $9.

Users of Narni have the option to put $MATIC to good use by loaning it to bridges to gain interest. With Narni’s ‘pool and earn’ feature (https://bridge.umbria.network/pool/), liquidity providers (LPs) receive fees when other participants bridge MATIC between networks.

The ‘pool and earn’ feature is particularly lucrative for anyone staking $UMBR – Umbria’s governance token. When assets are transferred across-chain using the bridge, including MATIC (including liquidity providers), these liquidity providers get a share of 0.3%. These liquidity providers earn their share of a 0.3% fee for transferring assets between networks. The reward is added to each token’s stake balance. Narni is different from other platforms that allow users to provide liquidity by providing liquidity in pairs of tokens. Users can also lose upside due the value change of the underlying assets.

The Narni Bridge saw its largest transaction volume on Wednesday, 17 November.

Polygon eliminates many significant shortcomings of Ethreum Network such as low throughput, high gas prices and poor throughput. It is becoming a more popular platform for DeFi/NFT projects including our own.
said Oscar Chambers, Co-lead developer at Umbria.

As its TVL grows and its market share rises, so too does the interest in MATIC’s native token. This is what we are seeing firsthand and we’re thrilled that users can bridge the asset cheaply and easily; as well as earn APY.

FinancialNewsMedia.

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