How to add Polygon
MAXX Finance is launching on the Polygon Network, which needs to be manually added to MetaMask
Last updated
MAXX Finance is launching on the Polygon Network, which needs to be manually added to MetaMask
Last updated
Polygon Network is a blockchain, running EVM (Ethereum Virtual Machine). It is interoperable with Ethereum, and runs smart contracts in the same way. However, the cost of transactions on Polygon is much cheaper, fractions of a cent, instead of tens or even hundreds of dollars like Ethereum. This is one of the main reasons MAXX Finance is launching on Polygon.
You can read more about Polygon here: https://polygon.technology/
$MATIC is the Native Token on Polygon, like $ETH is the native token on Ethereum. Matic is required to pay gas fees on Polygon.
By default, Metamask only supports the Ethereum mainnet.
Clicking on the network name opens a drop-down menu that allows you to switch to a different network. You will see that Polygon is not there. Don't worry, we just have to add the Polygon network manually.
Open the Network dropdown
Click Add Network
Click Custom RPC and then copy and paste the following: Network Name: Polygon RPC URL: https://polygon-rpc.com Chain ID: 137 Currency Symbol: MATIC Block Explorer URL: https://polygonscan.com/
Once you press save, you should now see Polygon at the top of Metamask, meaning you have selected the Polygon network. You can simply click this again to switch between Ethereum and Polygon.
It's important to note that you have the same wallet address on any EVM Network, such as Polygon. However, your balances of tokens are different for each network, and you cannot directly send tokens between chains (networks). You need to use whats called a Bridge to move assets between chains, which we cover further down on this page.
Now you have everything set up to use the Polygon Blockchain, however, you don't have any MATIC in your wallet, so you won't be able to make any transactions on the network until you do.
A transaction is an interaction with a smart contract, such as sending some tokens or trading on an exchange. Transactions require some time to be processed (this is done by the different validators on the Polygon network), however transactions normally complete within a few seconds.
Each transaction has a fee (this fee is also known as a gas fee and is paid with MATIC tokens).
Luckily, there are the so-called faucets that can help us to have a minimal amount of tokens for our first transactions. Here is one:
Now that you have some free MATIC in your Metamask, you are ready to use the different DApps and tokens in Polygon.
Bridging to Polygon
A blockchain bridge is a connection that allows the transfer of tokens and/or any data from one chain to another chain or layer. Both chains may have different protocols, rules and governance models, but the bridge offers a compatible one Possibility to interact safely on both sides.
So with a bridge you can send your tokens from other chains to Polygon.
Here is an exhaustive list of some popular bridges that you can use: https://wallet.polygon.technology/fast-withdraw/
Before transferring your token via a Bridge always check the commissions applied (gas + bridging commission). Remember that a transfer via a Bridge can take more time than a normal, on-chain, transfer.
It's important to know how to check your wallet's history. To do so, you can use DeBank. DeBank will allow you to check the different transactions that you have made in your Metamask account, as well as check your portfolio in all the blockchains that you use or the NFTs that you own.
