Umbria Network announces the release of Umbria Bridge Widget V2, an improved bridge widget and referred-based program suitable for any Web3 platform. This project addresses the expensive and slow process of transferring crypto assets across multiple blockchains. It downplays the technical complexities at play in this process. Umbria’s Narni bridge, established in 2021, produces fee-based rewards for liquidity providers. Further, it allows third parties to provide convenient bridging solutions inside their own ecosystems.
Umbria Bridge Widget V2 Integration
Umbria Bridge Widget V2 can be directly embedded into any Web3 platform. This feature allows third party integrations to provide low-cost and lightning-fast bridging of Umbria natively in their ecosystem. By incorporating the widget, these platforms put their communities one step closer to direct access to bridging services. This change is a huge improvement to user experience and practicality. This provides an opportunity for third parties to generate revenue by earning 0.1% of all bridging volume that passes through their widget.
Umbria’s bridge creates reward fees to liquidity providers as an incentive to provide liquidity. With a token representing access to bridge usage, this model is participatory, but it helps to keep the bridge liquid and flowing effectively for all users.
"Pool and Earn" Feature
Umbria offers a "Pool and Earn" feature, available at https://bridge.umbria.network/staking-pool/, where users can stake single assets to the bridge on a single network and earn 40% of the bridging fees. These fees get created any time someone bridges that asset to that specific network. This new “Pool and Earn” mechanism gives users a clear incentive to contribute to the network’s liquidity with their assets.
Narni has taken on the high costs and slow speeds associated with transferring crypto assets between blockchains. This leads to it greatly simplifying the technical complexities that are involved with this process. Umbria offers an easy to use and economical bridging option. This provides users with a more seamless experience when transferring assets between multiple blockchain networks.
Incentivizing Liquidity Providers
To incentivize liquidity provision, Umbria’s bridge produces rewards to liquidity providers in the form of fees collected, which can then be distributed. For example, if you stake a single asset to the bridge on one network, you will receive 40% of that asset’s bridging fee. This fee is triggered each time someone moves that asset onto that network.
Umbria Enable third parties to provide bridging services to their communities. This makes the platform’s reach and utility even greater. This holistic, collaborative approach helps the third parties and the greater Umbria network.
