Umbria Network Provides Updates on Web3 Ecosystem Expansion Efforts

Umbria Network recently shared key updates, milestones from 2022 including new products, bridges and partnerships. The platform’s developers also provided updates on their expansion efforts within the Web3 ecosystem.

In addition to the recently reported increase in transactions on its cross-chain bridge platform, Umbria Network has seen “a broad range of landmarks across the year.”

Since the start of January 2022, a total of 7420 ETH has “been transferred from one blockchain to another using the protocol’s Narni bridge with the biggest single transaction being 99.999 ETH.”

The platform currently “has over 2000 liquidity providers in the system with approximately 800 individual wallets staking Umbria’s governance token $UMBR.”

This year “a further five cross-chain bridges (in addition to the existing Polygon bridge) have been launched.” These reportedly “facilitate the fastest and cheapest cryptocurrency asset transfers between the Ethereum blockchain and BNB Chain, Fantom, Optimism, Avalanche and Arbitrum networks.”

Umbria has also been “admitted to Polygon’s Accelerator Program – the Polygon Ecosystem DAO’s ‘Polygon Village’ – an initiative designed to assist developers in growing their projects.”

In Q2 Umbria released “its bridge widget v2, which allows any platform to integrate the superior, seamless bridging experience of Narni quickly and easily into their site.”

This was followed by “the launch of an associated referral program that enables partner projects to earn 0.1% of all bridging volume that comes through their integrated widget. Q3 saw the announcement of the ‘Sweep to Umbria’ function.” Users of the feature can “convert very small balances of crypto that they have in their wallet (such as USDC, USDT, ETH, WBTC and Matic) into $UMBR to make them viable.”

In 2022 the protocol “joined the Arbitrum One Portal, Fantom Foundation, Optimism and DappRadar ecosystems and kickstarted its partnership endeavour with The Red Village, the leading Dark-Fantasy franchise in the metaverse.”

It subsequently added “a further 30-plus partners over the course of the year ranging from DEXes, DeFi protocols and P2E games to art and music NFT projects and crypto resource and aggregator platforms.”

Clem Chambers, CEO of Online Blockchain plc, said:

“2022 has been an exciting year for Umbria Network and great all-round progress has been made despite the current bear market. In 2023 we’re looking forward to pushing ahead with the Oracle V2, an ‘any to any’ bridge (as opposed to bilateral) that will facilitate asset transfers between all of the networks supported on the platform.”

As noted in the update, Umbria Network’s Narni bridge is “a capital-efficient, multi-chain asset bridge.”

It enables “the fastest and cheapest bi-directional bridging of crypto assets between the Ethereum Mainnet and a range of EVM-compatible blockchains (Polygon, Avalanche, Arbitrum, Fantom, Binance Chain and Optimism).”

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