The Umbria governance token (UMBR) has been added to Polygon’s token mapper paving the way for key Umbria DeFi developments on Layer 2. Umbria Network can now create a suite of applications on Polygon, which will be part of the Umbria ecosystem. Polygon – formerly Matic – provides scalable, secure and instant Ethereum transactions using their plasma proof of stake chain. Users of Umbria Network will be able to benefit from the fast, low-cost transactions (two second blocks with approximately 1c transaction fees) and heightened user experience that it affords.
Umbria will start developing its Decentralized Exchange’s (DEX) features on Polygon’s chain and can now fulfil bounty programs and airdrops and create farms and other DeFi products within a faster and cheaper environment.
“Token mapping of Umbria on Polygon PoS chain https://twitter.com/0xPolygon opens the door for our development on Layer 2 and a range of exciting opportunities for the Umbria protocol,” said Barney Chambers, co-lead developer at Umbria. “Polygon have been instrumental in helping drive the project forward and the next few months are going to be filled with exciting innovation.”
“We’re pleased to welcome Umbria’s ecosystem of DeFi products to Polygon, and we look forward to demystifying DeFi and making it accessible for the next wave of users in collaboration with Umbria,” said Arjun Kalsy, VP Growth – Polygon (previously Matic Network).