DeFi platform Umbria announces partnership with Polygon

DeFi platform Umbria announces partnership with Polygon

Umbria Network, a decentralized finance platform on the Ethereum blockchain, has announced that it will be deploying its range of applications on Polygon, a platform that has a large presence in the DeFi space and provides instant, secure, and scalable Ethereum transactions through Plasma side chains and a Proof-of-Stake (PoS) network.

Reports claim that Polygon is one of the leading active layer-2 Ethereum scaling solutions currently available in the market. The platform’s Developer Support Program is designed to help users overcome difficulties faced while building Blockchain-based applications.

It also helps developers with early support grants, security audit support, technical guidance from its network and team, marketing & promotional support, and support with investor connections.

Apparent, Umbria aims at releasing its DeFi platform with Polygon side-chain integration on the Mainnet by Q3 of FY2021. The company’s team is keen to build its applications on the Polygon network inclined by its EVM compatibility, low cost, high speed transactions and overall composability of the network.

The DeFi platform has recently launched its governance token on decentralized cryptocurrency exchange platform UniSwap, which will be used to vote on future upgrades to the protocol.

Commenting on the collaboration, Umbria Co-lead developer, Barney Chambers said that their firm is elated with their new partnership with Polygon, and is looking forward to collaborating with the team to further its common vision to bring DeFi to masses by removing barriers to entry.

Polygon’s technical and marketing support will be helpful for driving Umbria forward, with the Polygon blockchain platform making it an ideal solution for their firm, add Mr. Chambers.

As per Arjun Kalsy, Vice President, Growth – Polygon, their firm is pleased to help Umbria build their suite of DeFi apps and are thrilled to partner with their team on this journey to mass adoption.

Source Credit: https://www.prnewswire.com/news-releases/online-blockchain-umbria-partners-with-polygon-to-leverage-defi-protocol-301228132.html