$CFi on Layer 2 and listing on QuickSwap
As our community grows we feel a need to establish a way for users to purchase and trade $CFi in an easy and cheap way.
Through our research we establish our first blockchain and exchange to suit our needs — QuickSwap powered by Polygon(Matic). We are excited to venture into the Polygon Layer 2 ecosystem and make $CFi tradable on Quickswap, where it costs under 0.01$ to trade.
Launching on QuickSwap we established 2 pools:
- CFi/USDC — currently filled with 100 000$ of Liquidity and 2 QUICK per DAY in rewards for LP staking.
Link:https://info.quickswap.exchange/pair/0xf436257335b28e2b14861bf5f3b17b8a21bbd6df
2. CFi/QUICK — also filled with 100 000$ of Liquidity and 2 QUICK per DAY in rewards for LP staking.
Link:https://info.quickswap.exchange/pair/0xa2df4607db485ce3e79c01c12d100f202584786f
If this sounds interesting, think about the possibility of compounding your APY (on quickswap its easily done with the super cheap fees).
This provides for a healthy market that we plan to grow together with the CyberFi and Quick communities. $CFi listing on Quickswap is just the beginning of CyberFi venturing into the L2 ecosystem.
Below you will find a full instruction on how to transfer your $CFi to Matic and trade on Quickswap.
How to transfer your CFI tokens onto the Matic Mainnet and use QuickSwap
In order to transfer your CFI tokens from Layer 1 (the Ethereum mainchain), onto the Matic mainnet, and therefore access Layer 2 DeFi, you can do so through, Metamask. The process itself will only take you a few minutes to set up, but first of all, lets take a look at why you might want to switch from L1 to L2.
- Moving to L2 DeFi gives you access to a range of opportunities you would be unable to access through L1. This might include staking and liquidity mining opportunities, for example.
- Using the Matic Mainnet and using QuickSwap allows you to swap assets at a fraction of the cost associated with ETH Gas fees. Fees are paid in Matic (Or Polygon, as it’s known by now), which costs considerably less than ETH Gas.
This article will focus on how to set up MetaMask to access L2. MetaMask is a free browser extension allowing you to interact with the Ethereum blockchain and can be downloaded and configured here.
Setting up MetaMask for access to Matic mainnet
The easiest way to switch to the Matic mainnet is to simply go on QuickSwap and select “Switch to Matic”, but, we will also discuss how to switch to Matic mainnet by setting up a custom RPC, as this will apply to those who don’t use QuickSwap, but still want to move their assets from the Ethereum mainchain to L2.
1. Connect MetaMask to MATIC Custom RPC/Mapping Mainnet
The first thing to do is to configure the Matic Network custom RPC to your MetaMask. Once you set this up, you can easily switch between networks with just a few mouse clicks.
- Select MetaMask
- Click on the network selection button on the top of the app. It’s by default set to the Ethereum mainnet, so if you see “Ethereum Mainnet”, select that to access the network options.
- Click on the “Custom RPC”, this will then allow you to add the Matic mainnet information.
- After clicking “Custom RPC”, a new screen will appear allowing you to input the details required to set up the custom RPC for Matic Network.
- Enter in the Matic mainnet details as follows:
Network Name: Matic Mainnet
New RPC URL: https://rpc-mainnet.matic.network
Chain ID: 137
Symbol: MATIC
Block Explorer URL: https://explorer.matic.network/
- Be sure to enter the details correctly, and then, click “Save”. You are now connected to the Matic mainnet!
- This means that you can now transfer your CFI onto the Matic Mainnet and use QuickSwap.
2. Transferring your CFI from the Ethereum mainchain to the Matic mainnet
To transfer your assets from the Ethereum mainchain to the Matic mainnet and in order to use QuickSwap, please use the POS bridge. This will allow you to quickly transfer your assets across networks.
- Next, you should open the Matic Web Wallet. This is where you will be able to transfer your assets from Ethereum over to Matic. You can access the Matic Web Wallet here: https://wallet.matic.network.
- After accessing your wallet, be sure to connect it to MetaMask, with the Ethereum mainnet selected as the network. This is so that you can select your funds to be transferred from the Ethereum mainnet to the Matic mainnet
- Connecting Metamask will then take you back to the wallet interface. Once you’re back on your wallet, select the button “Move funds to Matic Mainnet”.
- This will then take you to this interface:
- Now, make sure that when you want to execute a transfer, you select the network “From” as “Ethereum”, select your token as “CyberFi Token”, input your amount, and then hit the “transfer” button.
- You will then be asked to confirm the transfer in your MetaMask wallet and pay the depositing fees associated with transferring networks.
- After confirming the transaction you will see a new popup window that details the transaction process. This will require the entire process to be “Approved”, “Confirmed” and then “Deposited”
- And finally, once your transaction is successful you can switch over to the Matic Network from MetaMask and now you can interact with Layer 2!
- Your wallet should now show your balance of your deposited CFI and this can be used with QuickSwap, which operates in the same way as Uniswap: https://quickswap.exchange/#/
- Note: After you have transferred your assets to the Matic mainnet, your transferred tokens address will now have a Matic address, as opposed to the Ethereum address. You can view the Matic address equivalents here. This can be used to update your wallets balance within MetaMask by selecting the “Custom Token” option.
- For those wanting to understand how to use QuickSwap, please watch the video below.
