Online Blockchain, the administrator, co-ordinator and adviser to Umbria Network, has reported ‘excellent progress’ with the platform’s cross-chain asset bridge ‘Narni’.
Since its beta launch on 16 August, 2021, Narni has quickly expanded its scope from an Ethereum to Polygon bidirectional bridge – supporting the transfer of $ETH, $USDC, $USDT, $MATIC, $WBTC, $GHST and Umbria’s native token $UMBR – to a multichain bridge, which also includes the Avalanche, Fantom, Binance Smart Chain (BNB) and Arbitrum networks. Transaction volume has consistently risen on Narni with average transactions per day now totalling 600, and transaction values ranging anywhere between $3 and $50,000.
Narni enables users to transfer crypto funds between chains at fractional cost compared with traditional validator-driven bridges (approximately a 90% discount to other solutions). This has led to its adoption by many NFT and DeFi platforms that have deployed their decentralised applications (dApps) on Layer 2 networks and other Ethereum scaling solutions and who wish to onboard communities quickly and easily. It has also resulted in Umbria partnering with over 50 projects in the space.
