How to complete asset cross-chain using Matic Network (Polygon)?

Layer 2 protocol Matic Network has recently attracted considerable attention from users in the secondary market, with the token MATIC rising 66% in the past 7 days. Its network ecosystem development is also impressive, as many users have begun to enjoy the fast transfer services and low fees of decentralized trading platforms built on Layer 2 protocols.

Since February of this year, the trading volume of the decentralized trading platform QuickSwap, launched on Matic Network, has experienced explosive growth. According to official data from QuickSwap, its liquidity has surpassed $94 million, and the trading volume in the past 24 hours has approached $25 million. On February 1, the trading volume of the platform was only around $600,000.

In this article, we will briefly explain how to set up the Matic Network protocol in your wallet, complete cross-chain asset operations, and trade on a DEX.

Link Wallet: Setting Up Matic Mainnet on MetaMask

This article takes the well-known wallet MetaMask as an example. If you have another decentralized wallet you are familiar with, you can refer to the parameters provided in this article for setup.

1. Log in to your MetaMask wallet and click on the network selection button (the blue box in the image below). Here, we will add or remove the mapping of the mainnet or switch between different networks. After clicking, select "Custom RPC" at the bottom (the red box in the image below) to add Matic Network network information.

2. After clicking "Custom RPC," a page will prompt you to fill in the mainnet information you wish to add. The specific parameters for Matic Network's mainnet are:

Network Name: Polygon

New RPC URL: https://rpc-mainnet.matic.network

Chain ID: 137

Symbol: MATIC

Block Explorer URL: https://polygonscan.com/

Make sure to add the detailed information and click the "Save" button. At this point, your MetaMask wallet is connected to the Matic mainnet.

Asset Cross-Chain: Transferring from Ethereum Mainnet to Matic Mainnet

Setting up the wallet is the first step. Next, we will demonstrate how to transfer assets from the Ethereum mainnet to the Matic mainnet. Here, we will use QuickSwap, a decentralized trading platform on the Matic mainnet, as an example. To transfer your assets from the Ethereum mainnet to the Matic mainnet for QuickSwap, you need to use the POS bridge.

The specific cross-chain steps are as follows:

1. Open Matic's official web wallet: https://wallet.matic.network. The website will ask you which wallet you want to link. Since we just set up MetaMask, we will continue to select the MetaMask account (select Ethereum mainnet as the network).

If your wallet has multiple accounts, you will see the following situation. Choose the account you want to link and click "Next" to confirm the link.

After connecting to the MetaMask account, it will navigate back to the Matic wallet interface. You can easily deposit funds from Ethereum into Matic using the web wallet. However, please note that transfers also require fees, so ensure you have ETH on the Ethereum mainnet as well as the ERC 20 tokens you wish to transfer.

Once the wallet is connected, we can start the asset cross-chain process.

2. Click "Move Funds to Matic Mainnet." Then enter the asset and amount you wish to transfer.

I don't have much funds, so I'll try transferring some DAI. You can choose the assets you want to transfer based on your needs.

3. After entering the asset type and amount, click "Transfer." A prompt will appear on the page: under normal circumstances, the deposit of assets takes about 7-8 minutes, and assets that are held in custody or staked on the Ethereum chain cannot be transferred cross-chain, so please pay attention to this. Confirm that the assets are in a transferable state and click "Continue."

Then comes the part that can be frustrating: informing you of the fees you need to pay.

4. Since I want to transfer DAI to Matic, I need to pay two fees: "Authorize Deposit" and "Complete Deposit." Based on the current gas fees, this will cost about $25. However, depositing Ethereum (WETH) does not require the authorization deposit fee; you only need to pay the "Complete Deposit" fee.

At this point, the entire asset cross-chain process is 99% complete. If you can accept this fee, click "Continue."

5. Next is the final confirmation step, where we confirm the assets and amounts we want to transfer to the Matic network. Click continue. The MetaMask wallet will pop up with the transaction information. As long as you have enough Ethereum in your wallet, follow the prompts and click "Confirm."

OK, at this point, the cross-chain asset operation is complete. The rest is up to time and the miners; just wait for the funds to arrive.

Once the transaction is successful, you will receive a confirmation message. The funds should also be deposited into the Matic network shortly, at which point we can switch the MetaMask network to Matic Network and keep an eye on the wallet balance. After the funds arrive, you can enjoy fast and low-fee interactions on Layer 2.

Currently, many protocols and projects support Matic, including decentralized trading platforms, NFT trading platforms, DeFi mining platforms, and more, such as:

• DeFi collateral for crypto collectibles, collecting, bidding, and integrating with Aavegotchi;
• Decentralized trading protocol Quickswap;
• Decentralized trading protocol Injective Protocol;
• Platform for creating and trading NFT digital assets NIFTEX;
• NFT digital collectibles platform Terra Virtua……