How to Bridge Tokens from Other Chains to Polygon
The difficulties that the ETH network has when it comes to transactions scalability are well known. As a consequence, the network constantly faces slowdowns and high transaction fees.
To reduce the speed and cost of working on the Ethereum network, Polygon was born. Through its unique four-layer system architecture (ETH layer, security layer, Polygon Network layer, and execution layer), Polygon is increasing in popularity every day.
Polygon is a great network capable of connecting to different blockchains with faster and cheaper transactions than in the ETH network. But, the process to bring tokens over to the Polygon network isn’t exactly straightforward.
In this post, we’ll go over three ways you can bridge your tokens from one network to the Polygon network.
FYI: the examples mentioned below aren’t financial advice. Please make sure to always do your own research!
Assumptions
Before you get started with this tutorial, be sure you have MetaMask set up first.
xPollinate
Created by 1hive DAO, the organization behind the xDai network and Honeyswap, xPollinate is a bridge that allows investors to move their assets ( USDT, USDC, and DAI only) cheaply and at high speed to the Polygon Network, and vice versa.
You can bridge tokens to/from four different networks; xDai Chain, Fantom Mainnet, Binance Smart Chain, and Matic Mainnet (Polygon).
xPollinate uses the Connext Network, a cross-chain liquidity network that enables fast and fully non-custodial transfers between EVM-compliant chains and L2 systems.
To bridge tokens from one network to the Polygon network:
- Navigate to https://xpollinate.io/ and connect your MetaMask wallet. Once connected, a form will appear indicating the address of the connected wallet that will receive the transfer.
- Provide the token to bridge, the outgoing and incoming networks, and the wallet address you’re sending the tokens to. In this case, be sure you choose Matic Mainnet as the destination network, as shown below.
3. Sign the request you see in MetaMask. After signing it, the amount window below will appear.
4. Next, provide the amount of the token you’re bridging in the You Send box. Once you do this, you’ll see the amount the recipient will receive after fees.
xPollinate charges a 0.005% fee when bridging a token to Polygon.
You will have to check the box Please Confirm The Receiver Address On Matic Mainnet after you scrolled down to see it.
5. Once you’re happy with your selection, click on Swap and xPollinate will initiate the transfer for you.
You’ll see a message stating the transaction was successful. The transaction typically takes 10 minutes maximum.
Polygon Bridge v2
If you’d like to go the “official” approach, you can also use Polygon’s bridge if you have tokens on the Ethereum network and need to bridge them to Polygon. The official Polygon bridge supports several tokens and also supports three different wallets; MetaMask, WalletConnect, and Coinbase Wallet.
Some Matic tokens will be required in balance to pay for transaction fees. Below is an example of how much the system uses as a recommendation. I always suggest increasing the gas fee to speed up the process. Here, I would increase to 0.02 MATIC. Click on EDIT and put the amount you want.
A bridge is basically a set of contracts that help in moving assets from the root chain to the child chain. There are primarily two bridges to move assets between Ethereum and Matic. The first one is the Plasma bridge and the second one is called the PoS Bridge or Proof of Stake bridge. Plasma bridge provides an increased security guarantee due to the Plasma exit mechanism.
However, there are certain restrictions on the child token and there is a 7-day withdrawal period associated with all exits/withdraws from Matic to Ethereum on the Plasma bridge, while the PoS Bridge takes 7–8 minutes to finish the transaction.
Therefore, always make sure to select the POS bridge and NOT the Plasma bridge, for transaction time reasons.
In this example, we will use the MetaMask wallet and the ETH token.
- Navigate to the Polygon bridge.
- Click on the MetaMask option to connect your MetaMask wallet.
3. Sign the transaction giving the Polygon Bridge access to your wallet.
4. Click on Move funds from Ethereum to Polygon. The Matic POS Bridge module will open.
5. Change the token to bridge if you’re choosing a token other than ETH.
If you use any other token than ETH, the bridge must perform an additional transaction. If you want to save on gas, only bridge Ethereum and then swap it for the token of your choice once it’s on the Polygon network.
6. Click on the Transfer button. A window will appear explaining that this tool only supports moving funds from Ethereum to MATIC. Delegation/Staking to validators is on ETH Network, no need to deposit funds to MATIC.
Click on Continue.
7. Next, review the estimated cost of gas this transaction will require. If you accept it, click on Continue.
8. Confirm the Transfer mode is set to PoS bridge and click Continue.
9. Confirm the transaction in your MetaMask wallet to initiate the transaction.
After your approval, the transaction will start and should be completed within 7–8 minutes.
PowerPool
PowerPool is another bridging option to get your tokens onto the Polygon network. This company builds for their clients their own exposure to DeFi using bullish, bearish, and hedged investments.
Currently, this bridge supports ETH Network (output), xDai Chain, and Matic (input), as well as 5 tokens: LEND, YFI, COMP, USDC, and CVP.
To bridge tokens to Polygon with PowerPool:
- Navigate to the PowerPool bridge.
- Make sure the Ethereum Mainnet is selected in interface and MetaMask. Go to the top right corner of the screen and click on the name of the network. A red arrow is indicating the location.
3. Select the token you’d like to transfer to Polygon under the Max dropdown, for example, USDC.
4. Select Matic in the bottom dropdown.
5. Enter the number of tokens and click on Transfer.
6. A window in MetaMask will pop up asking to confirm the transaction. Click on Confirm.
7. A black pop-up from the PowerPool system will appear showing that the transfer has been initiated. After 30–40 min, just switch the network in MetaMask to Matic and your transfer will be completed.
Conclusion
Although each option demonstrated in this article requires a specific order of actions, it is entirely feasible and possible to bridge tokens from other chains to Polygon. Check below for a comparison of the 3 options and which one I particularly recommend.
xPollinate has an easy-to-use interface, is fast and cheap. The fact that it only supports stablecoins is a great feature for me, once I don’t have to worry about the market volatility. Finally, I’ve never had any problems with it yet, so it’s my personal choice for bridging to Polygon.
Always be sure to check all the details and decide for yourself which is the best option at the time.
If you have any questions about bridging your tokens to Polygon, stop by the KogeFarm Telegram or Discord communities where you’ll typically find someone willing to help out.
