According to an Umbria press release from 11 May, the development team is currently building the user interface with asset swapping on the Umbria DEX and official liquidity pools. Scheduled for Q3 2021, the liquidity pools will provide bonus UMBR tokens for liquidity providers.
Oscar Chambers, the co-lead developer at Umbria, said many other developments and features are in the pipeline. However, he noted that fast, low-cost transactions and an attractive APY are key for the project.
While testing the first phase of Umbria’s Layer 2 DEX — a modified Layer 2 version of SushiSwap with extra governance features enabled by the UMBR token — the transaction fees for swapping ERC20 tokens were less than $0.001.
As the Umbria network was mapped on Polygon, formerly known as Matic, the next farm on the platform will be for the UMBR-MATIC liquidity pair. It will work similar to Umbria’s existing Ethereum farm, but will provide much lower entrance and exit fees, the company explained.
“We’re very pleased with the liquidity we’re seeing for UMBR-ETH and we will enable people to easily migrate this liquidity directly from Uniswap onto the Umbria DEX,” Chambers added.