MATIC and ETH added to Umbria Network’s Narni cross-chain bridge
Umbria’s ultra-low-cost liquidity bridge now supports ETH and MATIC in addition to USDT and UMBR.
Using Narni, the native tokens for the Ethereum and Polygon networks can be transferred exceptionally quickly and cheaply cross-chain. ETH, which was launched first, can be bridged from the Ethereum to Polygon Network for as little as USD2.56 in gas, which is significantly less than other bridges. This has caused the Narni Bridge to be adopted rapidly by many DeFi participants and has especially caught the attention of the Zed Run community, who had previously been hampered by prohibitively expensive gas fees.
Another considerable advantage of the Narni Bridge is the APY it pays liquidity providers. Its ‘Pool and Earn’ function enables users to lend their MATIC and ETH (and other assets) to the bridge and earn APY when other participants bridge that specific token between networks. Anyone currently providing ETH to the Polygon pool has received up to an astounding 70 per cent APY with no impermanent loss.
“We’re seeing great momentum now with the Narni bridge and a very pleasing increase in Total Value Locked (TVL). Lots of people are bridging, which in turn attracts more liquidity providers who are enticed by the interest they can earn on the asset they supply,” says Oscar Chambers, Co-lead developer of Umbria. “More chains and assets are coming online imminently; we’d love to hear from the DeFi community about what they’d like to see next on the Narni Bridge.”