POLK is coming to Moonbeam Network
We’re happy to announce that POLK is coming to Moonbeam! The POLK token is available on the Moonbeam Network and you can now bridge from Ethereum via Meter. This was highly anticipated by everyone at Polkamarkets Labs as part of our continuous work to bring multi-chain functionalities to the protocol.
If you haven’t already joined our Discord and Twitter, click here to join the conversation! Please also read this article for more information about the launch of SOSMarket by OpenDAO, an NFT Prediction Market powered by the Polkamarkets Protocol.
Leveraging Meter.io’s Moonbeam bridge as a critical piece of infrastructure is key for Polkamarkets towards a multichain protocol. Meter allows users to securely bridge POLK onto Moonbeam, allowing them to participate in the creation, curation, and forecasting of Polkamarkets’ prediction markets. In order for users to use POLK in the protocol, they will have to bridge their ERC-20 POLK tokens on Ethereum over to Moonbeam using Meter.
How to bridge your POLK from Ethereum Mainnet to Moonbeam?
Step 1: Head to https://passport.meter.io/ and connect your wallet
Step 2: Choose Moonbeam as “To” Network
Step 3: Choose Ethereum in the “From” section on top, and POLK as the token, and input the amount you desire to bridge.
Step 4: Click Start Transfer.
Allow meter.io to use your $POLK. You’ll get the following metamask popup — You’ll only need to perform this step once.
Step 5: Confirm the transaction. You’ll get the following screen while the transaction awaits to confirm.
Step 6: After transaction confirmation, the tokens will make their way onto Moonbeam through Meter’s bridge.
The process requires 25 block confirmations for the bridge deposit transaction on the Ethereum side, which may take 6 to 10 minutes. You can read all about it on Meter’s documentation.
Step 7: Configure Moonbeam network on your metamask.
If you haven’t configured the Moonbeam network in your Metamask, please do so by using Moonbeams’ documentation:
Head to https://docs.moonbeam.network/tokens/connect/metamask/ and click “Connect to Moonbeam”. You’ll be prompted with the following Metamask popups:
Step 8: Add POLK as a custom token in your metamask. The token’s address in Moonbeam is the following: 0x8b29344f368b5FA35595325903fE0eAab70C8E1F
Copy and paste the Moonbeam POLK token smart contract address into the Token Contract Address field, as shown above. Click Next.
You’re all set and your POLK is ready to use in Moonbeam 🎉
You’ll be able to bridge your POLK back to Ethereum Mainnet using the same exact process. Just switch the “From” and “To” networks on Meter and repeat the steps above. The same applies with Moonriver, you can bridge your POLK tokens between Moonriver and Moonbeam, at a lower cost than the Ethereum bridge.
About Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot.
Polkamarkets is an Autonomous Prediction Market Protocol built for multi-chain information exchange and trading where users take positions on outcomes of real-world events–in decentralized and interoperable EVMs.