How to move EASY & other tokens from Ethereum to Polygon Network
A Guide to using the new Polygon (Matic) Wallet V2 for EASY token transfers
Those who are regular on the Polygon (erstwhile Matic) Network would have noticed that their wallet has been upgraded to Version 2 with a much more intuitive and easy to use UI / UX. The transfer of tokens from the Ethereum Network to the Matic / Polygon Network has become far easier than before.
The following step-by-step guide has been created to enable our users to learn how to transfer their digital assets from the Ethereum to Polygon (Matic) Network. This will primarily be useful to our users for the upcoming Yield Farming Program that EasyFi Network is reintroducing from 09/March.
Step-by-Step Guide to transfer DAI
We are taking the transfer of DAI as an example in this case. Users can transfer any token from Eth to Polygon.
Ensure you are using the POS Bridge and not the Plasma Bridge. The Plasma takes upto a week to transfer funds. The POS will take 7–8 minutes.
- Visit https://wallet.matic.network/ on your web browser — this will prompt you to login with your crypto wallet. We are taking Metamask as an example in this case. Click on Metamask on this page. Ensure you are signed in your Metamask on the Matic Network.
2. Clicking the Metamask button as shown above will prompt a signature request. Click on Sign.
3. The new Matic Wallet V2 will open — connected to your wallet address on Matic Network. This lists all data from your wallet it can fetch. For moving funds to Matic, click on “Move Funds to Matic Network” as shown.
4. Once you have done that, the Matic POS Bridge module will open on the wallet as shown below. The token shown by default on this transfer module will be Ether. You can change it as shown in the next screenshot.
5. On the above screen, click on the down arrow beside Ether, the following token selection screen will be displayed to you, select DAI Stablecoin from the list.
6. Once you select the token, you will have the option to transfer the amount of your choice. The available balance can be seen on the screen there.
7. In this case, we have chosen MAX as shown in the box. You can also write another desired transfer amount.
8. Once the amount is ascertained, click on transfer. The system will show a warning message for you to understand. Click on Continue.
9. On the next screen, the Transfer Overview, the deposit process and the cost to each transaction, the Approval of Deposit and Complete Deposit, will be displayed. Please note, these are approximate costs and can change while your transaction is being executed.
10. On clicking Continue, the next screen will depict the estimated transaction fee. Click Continue here too.
11. Just in case you are not connected to the Ethereum Network, the system will prompt you to change. Please make the necessary change on the Metamask.
12. The final step before the blockchain takes over, will be the final Metamask confirmation to allow these transactions (as stated above) to conclude. Click Confirm.
13. Once you confirm, the system will take around 7–8 minutes on the Matic POS Bridge to move your funds from Ethereum to Matic. This you can see in the Wallet screen in step 1 when the transfer is committed and confirmed on the Blockchain.
Step-by-Step Guide to transfer EASY
Similar steps are required to transfer EASY from your Eth wallet to your Matic V2 wallet.
On confirming the final step in this transaction, the EASY tokens will be transferred to the Matic V2 wallet.
About EasyFi
EasyFi is a universal layer 2 lending protocol built for DeFi focused on scalability, composability, and adoption. It has been designed as an open and inclusive financial network infrastructure to run on public networks to facilitate an end to end lending & borrowing of digital assets and related financial products. EasyFi is being built upon the ethos of permissionless networks & automation of smart contracts.
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To learn more about $EASY and EasyFi, please go through our whitepaper and other articles on this publication.
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