Send Crypto To Matic Network From Binance.us


TL;DR

The Polygon Span allows users to quickly transfer ERC tokens and NFTs to the Polygon sidechain. There are primarily two bridges on Polygon, the Proof of Pale (PoS) Span and the Plasma Bridge. Both can span assets from Ethereum to Polygon (and vice versa), but they adopt different security methods.

The PoS Span uses the Proof of Pale (PoS) consensus algorithm to secure its network. It supports the transfer of Ether (ETH) and most ERC tokens. It’s the recommended choice for about users.

The Plasma Bridge is for devs that need increased security. Information technology uses the Ethereum Plasma scaling solution and supports the transfer of MATIC, ETH, ERC-xx, and ERC-721 tokens.

Introduction

With the number of blockchains rising in the crypto space, sharing data and tokens betwixt different networks has been challenging. Some projects are tackling this problem by building bridges between networks to facilitate asset transfers.

The Polygon Bridge is designed to increase interoperability between the Polygon and Ethereum blockchains. With a compatible cryptocurrency wallet, users tin easily transfer tokens back and forth.



What is the Polygon Bridge?

Polygon
is a framework for creating Ethereum-uniform blockchain networks and scaling solutions. It aims to enrich the Ethereum ecosystem by providing tools to build scalable decentralized applications (
DApps) and increase Ethereum’s transaction throughput with lower fees. Some pop Decentralized Finance (DeFi) platforms take already been deployed on Polygon, such as Aave, Bend, and SushiSwap.

To collaborate with DApps and tools on Polygon, you need to transfer your avails to the Polygon network. This is where the Polygon Bridge comes in. The Polygon Bridge is a trustless cross-chain transaction aqueduct between Polygon and Ethereum. It allows users to transfer ERC tokens and non-fungible tokens (NFTs) to the Polygon sidechain, all through the use of smart contracts.

How does the Polygon Bridge work?

The Polygon Bridge uses a dual-consensus architecture to optimize for speed and decentralization. It also supports capricious state transitions on sidechains, which are compatible with the Ethereum Virtual Machine (EVM). Cross-chain token transfers tin can be achieved instantly without third-party risks or market liquidity limitations.

When bridging tokens across the Polygon Bridge, at that place won’t exist any changes to the circulating supply of the token. Tokens that leave the Ethereum network are locked, and the same number of tokens will be minted on the Polygon network as pegged tokens on a 1:i basis. When bridging the tokens back to Ethereum, the pegged tokens on Polygon will be burned, and those on Ethereum will be unlocked during the process.

In that location are two types of bridge on Polygon for nugget transfer,


the Proof of Stake (PoS) Bridge and the Plasma Bridge.


The PoS Bridge, as the name suggests, adopts the
Proof of Stake (PoS)
consensus algorithm to secure its network. Deposits on the PoS Bridge are completed almost instantly, but withdrawals may take a while to confirm. The PoS Span supports the transfer of ether (ETH) and most ERC tokens.

On the other hand, the Plasma Bridge supports the transfer of Polygon’southward native token MATIC and certain Ethereum tokens (ETH, ERC-20, and ERC-721). It uses the
Ethereum Plasma
scaling solution to offering increased security. Please refer to the official
documentation
for more technical details.

How to bridge tokens from Ethereum to Polygon via the PoS Bridge?

To bridge tokens from Ethereum to Polygon, you need a compatible
cryptocurrency wallet, such every bit MetaMask. If you lot don’t have a MetaMask wallet, follow the steps in this
tutorial
to create ane. You’ll also need to download and install the MetaMask browser extension.

i. Log in to the
Polygon Web Wallet
past clicking [Polygon Bridge].





2. Side by side, you need to connect your crypto wallet. In this instance, we volition use Metamask.





iii. You’ll be asked to sign a bulletin to connect your MetaMask wallet to your Polygon wallet. This signature won’t cost whatever fees. Double-check the URL to make sure you are on the right website and click [Sign] to go along.





4. You should be redirected to the Polygon Bridge interface. If non, click [Bridge] on the left menu bar.





5. To send your tokens from the Ethereum mainnet to Polygon, become to the [Deposit] tab. Click on the token name to choose the token to bridge. In this example, nosotros’ll apply ether (ETH). Enter the amount and click [Transfer].





6. Read the important notes and click [Continue] when y’all are ready.





vii. Yous’ll likewise encounter the estimated
gas
fee for this transaction. If you lot are ok with the gas costs, click [Proceed] to keep.





8. Review your transaction details, including the token amount and the estimated transaction fee, before clicking [Go on].

Annotation that the PoS bridge is secured by validators. If you decide to move funds back to the Ethereum network, information technology can take up to 3 hours.





9. You’ll then exist prompted to sign and approve the transfer in your MetaMask wallet. Bank check if the details are correct and click [Confirm].





10. Once confirmed, wait for the tokens to arrive in your Polygon wallet. Yous may click [View on Etherscan] to check the transaction status.





How to bridge tokens from Polygon to Ethereum via the PoS Bridge?

Y’all can as well use the Polygon Bridge to transfer tokens from Polygon to Ethereum. Similarly, you’ll need a compatible crypto wallet, such every bit MetaMask.

As mentioned, there are two bridges on the Polygon network: the Plasma Bridge and the PoS Bridge. The withdrawal fourth dimension varies depending on which Polygon Bridge yous’re using.

 The PoS Bridge withdrawal unremarkably takes from 45 minutes to 3 hours, while the Plasma Bridge tin take up to vii days.

Let’s come across how to transfer from Polygon to Ethereum via the PoS Bridge.

1. Click [Withdrawal] on the [Span] interface. Choose the tokens yous want to transfer to the Ethereum network.





2. You’ll probably observe at that place’due south a [SWITCH Bridge] button next to [Transfer Mode]. The platform will automatically select the compatible bridge for your transfer based on the token y’all choose.


The PoS Span is recommended for transferring tokens from Polygon to Ethereum.


It supports the transfer of Ether (ETH) and other Ethereum tokens, including ERC-20, ERC-721, ERC-1155, and more than.





iii. After selecting the token, enter the amount you want to send and click [Transfer].





4. Read the of import notes and click [Continue] when you lot are ready.





v. You lot’ll also see the [Transfer Overview] pop-up with the estimated gas fee for this transaction. If yous are ok with the gas costs, click [Go along] to go on.





6. Yous tin review your transaction details, including the token amount, the bridge yous’re using, and the estimated gas fee before you click [Go along].





vii. You need to sign and corroborate the transfer in your MetaMask wallet. Bank check if the details are right and click [Confirm].

 Once confirmed, wait for the tokens to arrive in your Polygon wallet. You may click [View on Etherscan] to check the transaction status.

8. Adjacent, y’all’ll come across the transfer progress. Your withdrawal will be initiated on the network, and the PoS validators volition verify your transaction. It might accept upward to iii hours to complete, but there is no action required from you lot.





9. In one case your transaction is validated, yous need to claim the tokens to your MetaMask wallet. Click [Continue], and you can see the assets when the withdrawal is complete.





How to span tokens from Polygon to Ethereum via the Plasma Bridge?

If yous wish to transfer MATIC or other Polygon tokens to Ethereum, yous tin do information technology via the Plasma Bridge. Annotation that the Plasma Span only supports the transfer of ERC-20 and ERC-721 tokens, which include ETH and MATIC.

In this example, nosotros’ll transfer MATIC tokens from Polygon to Ethereum using MetaMask. By default, the MetaMask wallet is only connected to the Ethereum
mainnet. Yous need to add the Polygon network to your wallet earlier you tin view your MATIC and commencement the process.

Stride 1: Adding Polygon to MetaMask

There are ii methods to add the Polygon network to your MetaMask wallet. The default method is to add it manually (run into
How to Add Polygon to MetaMask). Nevertheless, you can also utilise the Polygon Wallet interface to quickly add Polygon to the network list of your MetaMask.

1. To do so, click the [Switch to Polygon] button on the top. Brand sure that you’ve already continued your MetaMask wallet.





two. You’ll see a pop-up from your MetaMask extension with the Polygon network details. Click [Approve].





iii. Done. The Polygon network has been added to your MetaMask. At present, you need to switch your MetaMask from the Ethereum Mainnet to the Polygon network. You can do then by clicking [Switch network].





4. You tin now see MATIC in your MetaMask wallet.





Step 2: Bridging MATIC to Ethereum using MetaMask

1. Get to the [Bridge] interface and click [Withdrawal]. Cull [Matic Token] from the token list, enter the amount and click [Transfer].

The system will automatically select [Plasma Bridge] for the transfer style.





2. Read the important notes and click [Continue] when you are set up.





3. Y’all’ll also come across the estimated gas fee for this transaction. If you are ok with the gas costs, click [Go along] to proceed.





4. Review your transaction details earlier clicking [Continue].





5. A MetaMask pop-upwardly volition appear for you to confirm the transaction. Click [Confirm], and you lot’ll see the transfer in progress.

You lot need to manually ostend three transactions for a Plasma Bridge transfer. The first i is to initiate your withdrawal from the Polygon wallet, which could take up to 3 hours.





6. Once the checkpoint arrives, it ways that your transaction is validated on the Ethereum blockchain. You lot need to confirm a 2nd transaction to offset the challenge period. This is a measure to offer increased security for withdrawal transactions.





7. After the claiming period, all you need to do is click [Proceed] to send the MATIC tokens to your MetaMask wallet.












Closing thoughts

The interoperability of the Polygon Span enables users to transfer their avails between Ethereum and Polygon blockchains. The Polygon Bridge offers an alternative to users looking to feel unlike DeFi platforms and DApps available on the Polygon network.

Source: https://academy.binance.com/en/articles/how-to-use-the-polygon-bridge

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