Polywhale Academy [1] — How to set up Matic Mainnet, bridge funds, trade and stake on Polywhale

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Polywhale

7 min readApr 28, 2021

We have gotten a few requests and questions from the community about how to start staking in our farms, so created a tutorial that takes you through every step from start to finish.

Overview

Polywhale is built on top of Polygon, which is a layer 2 solution that enables cheaper and faster transactions than any other decentralized blockchain in the space.

Because Polywhale is built on the Matic Mainnet, using the Ethereum Mainnet will not work. You have to follow some easy steps in order to enable your wallet to interact with the Matic Mainnet.

In this article we will cover the following:

How to set up your wallet with the Matic Mainnet.
How to bridge your funds from Ethereum Mainnet to Matic Mainnet.
How to trade the tokens you want on Quickswap.
How to stake the tokens you have purchased on Polywhale for rewards.

We have simplified all these steps in this article. You’ll be done in no time and will only need to follow these steps once.

FYI, Polygon used to be called Matic before their rebrand. This explains why Polygons network is called the Matic Mainnet.

Step 1 — Setting up a wallet with Matic Mainnet

In order to start this process, you first need to download a crypto wallet. The most common wallet in crypto is Metamask, and it can be downloaded here. If you have not set up a wallet, this is a great resource on how to do it.

Open up your Metamask wallet, and click on the Metamask icon.
If you can’t see it, click on the puzzle icon to the right.

2. Click on the three dots in the top left, and click “Expand View”. This will make it easier to get an overview of the wallet.

3. Click the “Ethereum Mainnet” button and scroll down until you get to “Custom RPC”.

4. Once you have opened this tab, enter in the setting as follows and click “Save”.

Network Name: Matic Mainnet
New RPC URL: https://rpc-mainnet.maticvigil.com/
ChainID: 137
Symbol: MATIC
Block Explorer URL: https://explorer.matic.network/

5. Your wallet is now set up with Matic Mainnet. Whenever you want to trade on the Matic network, you simply switch to it in Metamask.

Step 2 — Moving funds to the Matic Mainnet

Now that you have set up your wallet with the Matic network, you will be able to move funds from the Ethereum Mainnet to Matic Mainnet using the Matic bridge.

Go to: https://wallet.matic.network/login/ and click the Metamask option. Make sure your Metamask is connected to the Ethereum Mainnet.

2. Clicking the Metamask option will prompt a box where you have to sign off on that you want to connect to the Mainnet. Click the “Sign” button.

3. You have now been redirected to the wallet. Click on the button that says “Move funds to Matic Mainnet”.

4. Select the currency you want to move from the Ethereum Mainnet to Matic Mainnet.

The token you are transferring must exist on both networks. A pro tip is to use stablecoins like USDC, USDT or DAI.

5. Note that this process takes 7–8 minutes. Click “Continue”.

6. In this step, you get an overview over the gas fee you have to pay on the Ethereum Network in order to submit the transaction:

7. Click “Continue” once more to confirm the transaction. Make sure the transfer mode is PoS bridge.

8. A transaction will be prompted in your Metamask wallet. Scroll down and confirm the transaction.

9. Once you confirm the transaction, you have to wait for 7–8 minutes, and your funds will arrive in your Matic wallet.

10. You have now successfully moved funds to the Matic Mainnet.
In order to send funds from Matic Mainnet back to the Ethereum Mainnet, you click the “Switch” button on step 4 (this process takes 2–3 hours), and use the same method as above.

Step 3 — Buying Krill and other tokens on Quickswap

Now that you have moved your funds to the Matic network, you can start buying the tokens you want on an exchange called Quickswap.

Go to https://quickswap.exchange/
Change the network in your Metamask to Matic Mainnet.

3. Click the “Select a Token” option.

4. Paste the contract-address of Krill or the token of your choice in the empty field. Proceed to click the “add” button, so you won’t have to paste the address again next time you want to trade.

Polywhale’s token Krill contract address:
0x05089c9ebffa4f0aca269e32056b1b36b37ed71b

5. Approve the token you are trading.

6. Confirm the approval transaction in Metamask.

7. Once you have approved the token, click the “Swap” button.

8. Proceed by confirming the swap transaction in Metamask.

9. You are all done! Use this method to buy or sell any token on Quickswap.

Step 4 — Staking and Farming on Polywhale

Now that you have purchased some tokens of a project you like, you can utilize Polywhales farms to earn some extra rewards. This way you can make rewards off of your tokens instead of just having them sit in your wallet.

Start by making sure your wallet is connected to the Matic Mainnet.

2. Choose the farm in which you want to invest. In this example we are using the wMatic. Start by approving the contract.

3. Confirm the approval in Metamask.

4. Proceed by clicking the “Stake” button.

5. Choose how many tokens you want to stake and click “Confirm”. There is a 4% fee for staking, in which 3% gets burned. This is one of many ways Polywhale keeps the token supply in check.