Preparing for Popcorn’s Token Launch on Copper — A Beginner’s Guide

Prepare your funds now so they’ll be ready on November 29

Published in

VaultCraft

6 min readNov 19, 2021

The Popcorn Token Launch Auction will be the first opportunity for the general public to purchase POP and participate in the governance of the network. This method of releasing tokens helps to ensure a more open, accessible, and fair launch for everyone.

To take part in the Token Launch, you’ll need to have USDC on either Ethereum or Polygon chains. It only takes a few steps to get your funds ready, but you’ll want to prepare them as soon as possible since withdrawals from centralized exchanges can take time to process.

The recommended method is to use Binance.com to purchase and move tokens directly on the Polygon network. You can also try Crypto.com or Kucoin, which reportedly allow MATIC and USDC withdrawals on the Polygon network. This avoids the need to bridge tokens between networks, meaning you pay a lot less in transaction fees. If these exchanges aren’t available to you or you prefer to explore other methods, keep on reading.

Here’s a rundown of what we’ll be covering in this guide:

Transferring USDC from an exchange to Ethereum

USDC purchased from centralized exchanges like Coinbase typically lives on the Ethereum Mainnet. To use Mainnet USDC in the Token Launch Auction, all you’ll need to do is transfer your USDC tokens from an exchange to your MetaMask wallet. Although this method is convenient, it has much higher fees compared to a Layer 2 solution like Polygon.

If you’re rushing into the Token Launch Auction at the last minute (or you see gas fees as a benevolent offering to the long-term health of the Ethereum network), working with Mainnet may be your only choice. However, once you become familiar with Layer 2 approaches, it’s hard to look back.

Introduction to using Polygon

The extra steps it takes to prepare your funds on the Polygon network are well worth the time. You’ll use Polygon’s native token, known as MATIC, to swap to USDC as well as pay for transaction fees. Alternatively, you can use Binance to purchase and move tokens directly to the Polygon network. We’ll be using Coinbase in this guide, but the experience should be similar on your exchange of choice.

Step 1: Buy MATIC on Coinbase and send it to MetaMask

You can use fiat to buy MATIC on Coinbase, but these MATIC tokens will be on the Ethereum Mainnet, not on the Polygon chain. A few additional steps are required to bridge the tokens over to the MATIC network and swap them for USDC to use in the Token Launch Auction.

First, purchase your MATIC tokens like you would any other token on Coinbase. You’ll then want to withdraw the tokens to your MetaMask wallet. You may need to wait a period of time for your deposited fiat to clear before you can withdraw your fresh MATIC from Coinbase.

Once you’ve sent MATIC to MetaMask, you’ll need to add the MATIC token. To add the MATIC token click ‘import tokens’ at the bottom of your MetaMask wallet and search for ‘Matic Network Token (MATIC).’

Once you add the token, you should be able to see the amount of MATIC you sent on the Ethereum Mainnet.

Step 2: Bridge your MATIC to the Polygon Mainnet

Now we need to move the MATIC tokens onto the Polygon chain. Moving assets from one blockchain to another is called bridging, and Polygon provides a bridge tool to easily move your assets from Ethereum Mainnet to Polygon Mainnet. Make sure you have ‘Matic Token’ selected in the dropdown.

After you bridge your MATIC, you’ll have to add the MATIC token to the Polygon Mainnet in your MetaMask wallet in order to see it. We’ll cover that in the next step.

Step 3: Setup MetaMask to connect to MATIC Network

In order to add Polygon Mainnet (MATIC) to MetaMask, go to chainlist.org and search for Polygon. This will automatically add the custom RPC (Remote Procedural Call) to your wallet.

If you’re interested in manually adding the custom RPC, here are the steps:

At the top of your MetaMask wallet, switch the connected blockchain by clicking on the tab ‘Main Ethereum Network.’

Scroll down until you find ‘Custom RPC.’

Enter in the Matic Mainnet settings as follows:

Network Name: Polygon
New RPC URL: https://polygon-rpc.com
ChainID: 137
Symbol: MATIC
Block Explorer URL: https://polygonscan.com/
You have now connected to the MATIC Mainnet with your Metamask Wallet!

Step 4: Swap Your MATIC for USDC

Finally, you’re ready to swap your MATIC for USDC! Simply click ‘Swap’ in the Matic Network screen of your MetaMask Wallet.

Enter the amount of MATIC you would like to swap for USDC. Remember to reserve some MATIC to pay gas fees for the transaction.

If you accidentally use all of your MATIC you can use the matic.supply ‘faucet’ to receive enough MATIC to cover transaction fees.

There’s no need to adjust the advanced options. Click ‘Review Swap,’ and then ‘Swap.’

You’ll now see your USDC on the Polygon network under the Assets tab when your transaction is confirmed.

Participating in the Token Launch Auction on Copper

Now that you’ve got your funds prepared, you’re ready to go to Copper, connect your wallet, and participate in the POP TLA on November 29! Be sure to read the Popcorn Token Launch Auction FAQ to learn more about TLAs and why they’re the best way to launch POP. If you’ve swapped tokens on a DEX before, you’ll be familiar with the general interface, but if you’d like a preview of the Copper experience, check out this video.

As always, reach out to us on Discord if you have any questions. Enjoy the launch!

Many thanks to our Discord users Markaroni and Pepe Popstar for assistance with this guide.

Disclaimer: NO U.S. PURCHASERS: POP Tokens are not being offered or distributed to U.S. persons or other jurisdictions where prohibited. If you are citizen, resident of, or a person located or domiciled in the United States of America including its states, territories or the District of Columbia or any entity, including, without limitation, any corporation or partnership created or organized in or under the laws of the United States of America, any state or territory thereof or the District of Columbia (a “U.S. person”) or any jurisdiction where prohibited do not purchase or attempt to purchase POP Tokens and do not participate in Popcorn.Network.