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Umbria DeFi

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Umbria DeFi

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Umbria DeFi RSS Feed

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The Umbria DeFi (decentralised finance) protocol, which will enable users to earn interest (APY) on their crypto assets, is launching soon: https://umbria.network/ 

As of today, the Umbria utility governance token is tradable on Uniswap, a fully decentralized liquidity provider on Ethereum. You can swap Umbria with Ethereum and vice versa. UMBR ETH Pair.

In the near future, you will be able to earn Umbria as an incentive for providing liquidity of ERC20 tokens in Umbria token swap pools.

Head over to the Umbria Discord channel, Twitter, Facebook or LinkedIn to find out more about the project. Become part of the journey!
 
 
What is DeFi? 
 
As of January 2021, approximately $20.5 billion has been invested in DeFi, but what exactly is this next revolutionary phase in crypto all about?      
 
DeFi is the current buzzword in the cryptosphere. DeFi stands for Decentralized Finance, an umbrella term for a variety of financial applications and crypto projects, which are building the global financial infrastructure of tomorrow. It is disrupting the traditional financial services provided by centralized institutions/intermediaries such as banks and brokerages. DeFi refers to decentralized, permission-less financial services, which run primarily on the Ethereum blockchain. Anyone can access without having to show trust or be trusted - there is no KYC or AML - and transactions are almost immediate and totally transparent, the opposite of what you experience with bricks and mortar institutions. Whilst DeFi incorporates a variety of applications, the lending/borrowing protocol is currently the most popular type. 
 
What is Ethereum’s role in DeFi? 
 
Most “DeFi” applications are based on Ethereum blockchain, a transaction ledger system, the world’s second-largest cryptocurrency platform and number two cryptocurrency. Ethereum is similar to Bitcoin but has a computer ‘plugged in’ and enables decentralized applications beyond simple transactions to be built upon it. It utilizes so-called smart contracts, which are essentially programs that run autonomously on the internet. These smart contracts take on the role of the people and intermediaries that provide the traditional ‘centralized’ services we are accustomed to. 
 
How can I make money from DeFi? 
 
DeFi does not have the overheads of traditional financial institutions. Because of smart contracts there are no people or physical buildings to pay for. These savings can be passed on to the users in the form of rewards and incentives. These efficiencies become money-making opportunities and are paid out as earned interest in many cases for lending or providing liquidity for crypto asset platforms and protocols. This is where you’ll hear terms such as liquidity pools, farming/yield farming, harvesting and staking.
 
How to get started in DeFi?
  • Open an account with a crypto exchange such as Coinbase and get some Ethereum
  • Download a Metamask wallet as a Chrome extension  https://metamask.io/download.html and send your Ethereum from Coinbase (or other exchange) to this wallet
  • Find your DeFi platform of choice (of course this will be Umbria very soon) and link your MetaMask wallet to it 
  • Now you can swap your Ethereum for other Ethereum-based tokens
This is the start of a long road of discovery, a first step on the road of financial revolution that will change the financial landscape for good and for the better.
 
Further reading: 
 
https://www.forbes.com/sites/investor/2020/08/14/defi-welcome-to-the-crypto-revolution/?sh=6a5216e0688b 
 
https://seekingalpha.com/article/4387807-bitcoins-explosion-is-klaxon-for-defis-renewed-ascent-new-investment-opportunities-on-horizon
 
 
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