Umbria Network DeFi Farm Launches – Earn passive income with UMBR governance tokens

Umbria Network DeFi Farm Launches – Earn passive income with UMBR governance tokens

UMBR holders can capitalise on their tokens with the introduction of the Umbria Farm.

Users of the Umbria Layer 2 DeFi protocol can soon deposit their UMBR-ETH LP (liquidity pool) tokens into the Umbria Farm https://farm.umbria.network/ and earn even more $UMBR as a reward.

After buying UMBR on Uniswap, anyone can add liquidity to the UMBR-ETH pool on the Uniswap platform. They receive LP tokens and earn fees in return. Holders of these LP tokens will be able to put them directly into the Umbria Farm to get a share of 50,000 UMBR (share dependent on how many ETH-UMBR LP tokens they are staking). This is in addition to the fees they earn for liquidity provision on Uniswap.

Watch this video for a step-by-step guide:

 

At block 12120000 farming rewards will begin being distributed to those who have staked their UMBR-ETH tokens in the Umbria Farm. Participants will receive a portion of the 0.25 UMBR minted per block for the subsequent 50,000 blocks. It’s currently estimated that yield farming on the platform will commence around the 27th of March. Check the block countdown here for the latest update.

Anyone adding their LP tokens to the Umbria Farm will be included in the Umbria airdrop snapshot on April 15th and eligible to claim their free tokens on May 15th.

“By putting your LP tokens into another contract – that is the Umbria Farm – you can really capitalise and make your assets work much harder. You still get fees for providing liquidity, but you’re also earning additional UMBR. Welcome to farming!” said Oscar Chambers, Co-lead developer at Umbria. “We’re looking forward to deploying many more features on the Umbria Network in 2021.”

See the latest price of UMBR on CoinMarketCap:

https://coinmarketcap.com/currencies/umbria-network/news/

Head on over to our Discord channel or Telegram to find out more on the latest developments.

If you are interested in becoming an official Umbria Ambassador and earning additional UMBR please get in touch at [email protected] using the subject ‘Brand Ambassador’ in your email.

About Umbria

Umbria is a a decentralized protocol, which enables DeFi (Decentralised Finance) applications on the Ethereum blockchain. It aims to demystify and simplify DeFi and get people earning income on their crypto. Using cutting edge-layer two technology developed by Polygon, Umbria is developing a suite of popular DeFi features at fractional on-chain cost of many current DeFi platforms with greater transaction speed (while maintaining all the cryptographic security provided by Ethereum).

Umbria is available on Uniswap and users can add liquidity to earn fees. A user of Umbria will soon be able to swap tokens and earn interest on their cryptocurrency positions on the Umbria website with other facilities coming online (via developers and community initiatives) which will utilise the Umbria protocol and its governance token. One of the initial features of Umbria is that it will allow users to deposit cryptocurrency as liquidity in AMM (automated market making) pools to earn fees from token swapping and earn additional Umbria as an incentive for providing liquidity. The Umbria governance token will also enable users in the network to take control over decision-making and have voting power over the development and governance of Umbria’s protocol.

UK-publicly listed Online Blockchain plc (LSE:OBC) is acting as Umbria’s coordinator, administrator and advisor.

Francesca De Franco

ADVFN PLC

+44(0) 794 125 3135

[email protected]

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