Umbrella Network Upgrades Rewards Programs To Compound Your DeFi Earnings
**LP Token Staking is now LIVE!**
- Uniswap LP Staking Portal: https://staking-lp.umb.network/
- LP Staking How To Guide: https://staking-lp.umb.network/how-to
Since launching our UMB Staking program just a little over a month ago, we have been distributing 111,872 rUMB reward tokens pro-rata to stakers everyday. With over 12 million tokens in stake, our program has been successfully rewarding our community of token holders, currently clocking in at an incredible 340%+ APY.
We currently also have a Liquidity Rewards Program for our UMB/ETH pool on Uniswap, distributing 20,000 UMB tokens a month pro-rata to liquidity providers. Well, we are happy to announce that liquidity providers to the Uniswap pool will now be able to stake their LP tokens to a new staking vault to earn even more! Yes, we will be offering a new way to compound your earnings. Here’s how:
- You deposit ETH and UMB tokens into the Uniswap v2 contract
- Uniswap v2 contract will send back LP tokens to your linked wallet
- You can now stake those LP tokens into our new Uniswap LP Staking Vault and earn rUMB
Now there will be 3 ways to earn rewards:
- Your staked UMB tokens are earning you a steady stream of daily rUMB rewards;
- Your UMB and ETH contributions are earning you fees at Uniswap along with additional $UMB tokens (pro-rata of a monthly 20,000 $UMB distribution) and;
- Your LP tokens can now be staked and will earn you more rUMB on a pro-rata basis.
Please note that the total amount of rUMB generated for rewards will still remain at 111,872 reward tokens daily. It will now be split 75%, or 83,904 rUMB, to the UMB Staking Pool and 25%, 27,968 rUMB, to the new Uniswap LP Staking Pool. Umbrella may make monthly adjustments to the allocations of the two pools as we continue to develop and evolve the program.
About Umbrella Network
Umbrella Network is a scalable, cost-efficient, and community-owned oracle for the DeFi and blockchain community. Its Layer 2 technology uses the latest advances in Merkle tree technology to write multiple data points on a single on-chain transaction, so it allows for batching data to smart contracts accurately, securely, and inexpensively. Umbrella believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system.