Blockchain
Quick and Easy Bridging of USDT through Umbria Network
The recently introduced DeFi innovation, the Narni Bridge by Umbria now allows quick, easy, and cheap cross-chain migration of USDT.
The Narni Bridge allows users to transfer USDT from the Ethereum network to the Polygon network at an average cost of $2.80, taking on average 47 seconds for the transfer to complete. The transfer from Polygon to Ethereum takes about two minutes and 12 seconds and costs on average $5.62. Compared to other methods in use, this is significantly less expensive and much quicker.
“With Narni, it’s a lot easier for people to use their crypto assets across different networks, and the addition of USDT is another milestone,” said Oscar Chambers, Co-lead developer of Umbria. “We’re going to be rapidly introducing other assets with an initial focus on stablecoins. We are already seeing the staking feature of the Narni Bridge attracting yield farmers to provide valuable liquidity to bridge the Matic and Ethereum communities and in return provide themselves with a lucrative return on their crypto.”
In addition to bridging the Stablecoin quickly between the Ethereum Mainnet and Polygon network with extremely low fees, users can now use Narni’s ‘pool and earn’ feature. Lending USDT to the bridge in the pooling system earns APY (a return similar to interest on deposits). Liquidity providers receive fees every time users bridge USDT between the networks. The popularity and wide use of Stablecoins are expected to bring higher fee generation.
Find out more about the Narni Bridge on the Umbria documentation page: bridge.umbria.network/docs
Blockchain
DIGZAX Enhances Collaborative Security System, Pioneering New Heights in Cryptocurrency Trading
DIGZAX
Blockchain
CryptoBlox Signs Amended & Restated Share Purchase Agreement to Acquire Blockchain Fintech
Blockchain
Belgium RegTech Business Report 2024: Market to Grow by 24.8% to Surpass $300 Million this Year – Investment Opportunities to 2029
Belgian RegTech Market
-
Blockchain Press Releases7 days ago
Compass Mining Expands Operations into Kentucky with New 10 Megawatt Partnership
-
Blockchain Press Releases5 days ago
FDUSD Expands to the Solana Blockchain to Further Strengthen and Bolster Access
-
Blockchain Press Releases4 days ago
Bybit Launches Localized Website for Kazakhstan Community, Offering Comprehensive Crypto Trading Services
-
Blockchain4 days ago
DNA Holdings Venture Inc. and Validation Cloud Partner to Deliver $50M Institutional SOC 2 Compliant Staking Solution on TON
-
Blockchain6 days ago
OKX Celebrates “A New Alternative for the UAE” with ‘Trade Like a Pro’ Brand Campaign Featuring Local Influencers
-
Blockchain5 days ago
XSOLLA TO LAUNCH XSOLLA ZK, ADVANCING WEB3 ADOPTION FOR VIDEO GAMES
-
Blockchain Press Releases6 days ago
Nomic Launches Babylon Bitcoin Staking Smart Contract on Ethereum
-
Blockchain Press Releases6 days ago
MetaMinds Partners with YOM to Deliver Metaverse and Spatialweb Experiences through DePIN Technology