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LONDON, May 20, 2021 /PRNewswire/ -- Umbria's Layer 2 DEX is going live on Friday, 21st of May and will enable fast, low-cost swaps and liquidity providing.
Users of the DeFi protocol will be able to deposit Umbria's token UMBR alongside MATIC in liquidity pools on the Umbria DEX. In return for providing liquidity, they'll receive LP tokens and earn additional UMBR and MATIC. Participants will benefit from the fast, inexpensive transactions provided by the Polygon Layer 2 (formerly Matic).
The https://matic.umbria.exchange/ URL will be active on launch day.
UMBR-MATIC will be one of the initial liquidity pairs on the DEX with others quickly following. Anyone will be able to create trading pairs for swapping and liquidity providing in the pools. If an asset isn't shown on the Umbria DEX, users can list any ERC20 token that's on Ethereum and the Polygon mapper, and any ERC20 contract deployed on the Polygon chain by providing liquidity. This will enable instant asset swaps.