Bridging $WIVA to Polygon
Wiva is now going to be available on polygon so today we are presenting a quick guide for how to bridge your assets over to polygon without any trouble or consternation on your part.
If you don’t have WIVA yet, you can buy it from Quickswap here
Setting up the Metamask Wallet Browser Extension
First things first, you will need a MetaMask wallet as a browser extension that has both the Ethereum network and Polygon networks pre-loaded into the wallet’s primary chain drop-down menu.
MetaMask should already automatically have the Ethereum chain in its list. To add the Polygon chain you need to follow these steps.
- Click on the drop down menu where it says Ethereum Mainnet
- At the bottom of the drop down menu, there is a button labelled ‘Add Network’. Click on this.
- Scroll down until you find Custom RPC
- Enter in the fields the following information:
Network Name: Polygon
New RPC url: https://rpc-mainnet.matic.network
Chain ID: 137
Block Explorer Url: https://polygonscan.com/
5. Click Save. You have now added the polygon network to your Metamask wallet.
You should now be able to select the Matic Mainnet from the dropdown menu as shown.
Once you have both chains available in your MetaMask wallet, we next need to make sure we have assets available in your Ethereum wallet. These assets will need to be the Wiva you intend to bridge across to the polygon chain, and some Ethereum to pay for gas fees. I would personally recommend making sure you have at least $200 worth of Ethereum in your wallet just to make sure that if gas fees happen to be high that day, you can still pay them.
For the same reason, I would make sure that the amount of WIVA you intend to bridge across is a large amount in order to justify the somewhat high Ethereum gas fees.
- SIDE NOTE. These Ethereum gas fees are not expected to be this high forever. It is likely that after a few more developments from the Ethereum team that are due over the period of the next year, such as the beacon chain merge and sharding, these gas fees will be significantly reduced. This is only a short-term problem.
Bridging your WIVA to Polygon
The next thing to do is to head over to the official Polygon wallet website where you will find everything you need to understand the Polygon native token — Matic. As well as to bridge over your assets.
Once on the website, navigate to the Polygon bridge page where you will find this tool.
The bridging process works in five parts.
- Firstly you need to choose the token you wish to bridge across in the dropdown menu that is automatically selected to Ethereum when you open the page.
- Decide how much of the asset you want to bridge to Polygon. If you want to send the full amount, simply click ‘MAX’.
- When you are happy, click transfer, a pop up will appear from the bridge with an important notice, make sure to read it carefully, and then if you are happy, click continue.
- When you click continue a series of popups will appear from your Metamask wallet extension browser, asking you to authorize the bridge. This will cost a small gas fee in ETH. Once that is authorized, a second popup will appear asking you to authorize the transfer. Again, a small gas fee in ETH will be detailed and dedicated from the Ethereum you have in Metamask.
- Once you have confirmed everything, a graphic with a hand on it will appear showing the progress of your tokens as they migrate from the Ethereum chain to the Polygon chain. This process should take about 7–10 minutes so be patient.
When the transfer is complete you will be notified by the graphic. At this point, it is time to switch your Metamask wallet over to the Matic Mainnet using the drop down we navigated through earlier.
Adding WIVA to your Matic Mainnet wallet
Once you are there, you will need to add the contract address of the WIVA token manually by doing the following.
WIVA Token address: 0x784641e51C300120A8D15bFDb3b45375D4352748
Scroll to the bottom of your Metamask where you will find a message that reads.
“Don’t see your tokens?
- When you click on import tokens, navigate to the top right tab that says ‘Custom Token’.
- Here you will need to copy in the WIVA polygon contract address. Once you do that, it should populate the other input fields automatically.
- Finally, click ‘Add Custom Token’ and close the Import tokens window. Now when you go to view your assets, you should see your WIVA tokens there.
Acquiring some Matic tokens
Your next and final step is to acquire some Matic which you will need to pay any network fees that come from submitting transactions on Polygon. You can do this by navigating to the Polygon bridge website again linked here.
On this page, you will see in the left-hand side menu an option labeled.
“Swap for gas token”. This is where you can acquire some Matic for the first time, free of fees.
In this tab, you can then swap some of your bridged assets (in this case WIVA) to Matic without spending any fees. To get started I would recommend a minimum of 3 Matic to have in your wallet in order to complete the desired amount of transactions you have in mind. This should be more than enough.
1) Approve the amount you would like to swap from WIVA (or any other token you may have bridged) to the Matic token.
2) Confirm the transaction by clicking the button and then signing the Metamask prompt that follows.
You are finished!
Now you are ready to go. Congratulations, you have successfully bridged your WIVA to the Polygon network, and secured enough Matic tokens to allow you to complete many transactions.
If you want to buy WIVA please trade it at Quickswap
We will be implementing a staking contract on the polygon network in due time, either via a polygon native farm such as Quickswap, or our own staking contract.
You will also be able to trade WIVA much more cheaply on Polygon as well without those extremely high Ethereum gas fees we have all grown to ‘love’.
And of course, when our marketplace goes live that will also include polygon native assets and hopefully the ability to trade wine with WIVA as well.
About WiV Technology
WiV Technology is a financial technology company that makes fine wine into a financial instrument. WiV have created a more transparent and efficient wine ecosystem by combining NFT and blockchain technology to create a decentralised finance protocol for investing and trading fine wine. It is the founder of WIVA Token and WIVX the decentralised reserve token.
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