The Bridge to Polygon for Unreal’s UGT Token is Now Live!
- Unreal’s governance token — UGT — can now be bridged to the Polygon Network
- The process for enabling Polygon on your MetaMask wallet is simple
- Bridging UGT from Ethereum to Polygon only takes a few minutes and could save you a ton in gas fees
- Opening this bridge marks the beginning of what we hope will be Unreal’s first multi-chain endeavor: Launching on Polygon
As a multi-chain protocol, Unreal’s vision has always been to change the way people view yield forever. Therefore, we’re thrilled to be lowering DeFi’s barrier-to-entry by allowing anyone to purchase or transact in UGT for next-to-zero fees on Polygon’s network.
We understand that bridging to layer 2 for the first time can seem daunting for many users, but it’s actually much easier than you might think. Additionally, once people bridge to Polygon, their transactions for buying, selling, trading, transferring, and more are reduced to nearly zero. Essentially, we think many will find the transition is worth it, which is why we’ve created this guide to show you how to set up your MetaMask wallet to interact with Polygon and how to bridge your UGT over for use on layer two.
Enabling MetaMask for Polygon (Matic Mainnet) — Custom RPC Configuration
For many, the first question that comes up is, “which wallet should I be using?” At Unreal, we recommend MetaMask because it’s not only free, it’s also a protected browser extension that allows users to easily interact with the Ethereum blockchain as well as all EVM-compatible sidechains — like Polygon.
New users can download and configure MetaMask here.
Once you’ve installed MetaMask, you’re only a few short steps away from using the bridge.
From your browser extension menu, you’ll see what looks like a puzzle piece in the top right corner of your screen. Select that, then scroll and select MetaMask. At the top, you’ll see “Ethereum Mainnet”, select the nearby downward facing arrow. At the bottom, you’ll see “Custom RPC”. Select it.
A screen will then appear, allowing you to set up the custom RPC for the Polygon Network.
Enter the following details:
To make things easy, you can also copy and paste the details provided here:
Network Name: Matic Mainnet
New RPC URL: https://rpc-mainnet.matic.network
Chain ID: 137
Block Explorer URL: https://explorer.matic.network/
Carefully enter the details, and make sure that you’ve filled in all of the above fields. Once you’re confident that you’ve configured everything correctly, click the “Save” button.
Wasn’t that easy? Now you’re connected to the Polygon Network and ready to interact with Layer 2!
Please note, that during times of heavy congestion on the network, you may need to change your RPC to increase the speed of transactions. You can find a detailed tutorial for how to do that here.
Transferring UGT from Ethereum to Polygon
To transfer your UGT from Ethereum to Polygon, you will use the PoS bridge.
To do so, first, open and set up the Matic Web Wallet V2.
Once you access the wallet, connect your MetaMask account with the Ethereum Mainnet selected as the network.
After you’ve connected your wallet, you’ll be directed back to the Matic Wallet interface.
Find UGT in your assets and click “Deposit”
Enter the amount of UGT you’d like to transfer, and then click “Transfer”.
The following warning will appear. Read through what’s supported, and then select continue.
Click “Continue” again to complete your deposit.
Then click “Continue” again to confirm your deposit.
Your MetaMask wallet will open. Click “Confirm”.
The following screen should appear:
Wait for the transaction to process. Depending on network traffic, this can take several minutes. You can track its progress if you like on Etherscan.
When your transaction has completed, you’ll see this screen:
Next, open MetaMask and select “Matic Mainnet’’ from the drop down menu. Congratulations, you are now interacting with Polygon — Ethereum’s leading layer 2 scaling solution.
The Final Step: Adding UGT as a Custom Token to your Wallet on Matic Mainnet
Those already familiar with MetaMask will likely know the process for adding a custom token to their wallets. What may surprise some though, is that even if they’ve already added UGT to their wallets on Ethereum, they’ll have to add it again on the Matic Mainnet to view the balances held on Polygon.
That’s because UGT’s address is different on each EVM chain. On Polygon, UGT’s address is: 0xBa4c54Ea2d66b904C82847A7d2357d22B857E812
Good thing adding a custom token is as easy as can be.
From your MetaMask wallet, with Matic Mainnet set as the network, scroll to the bottom and click “Add Token”.
Then, copy and paste UGT’s token address from above into the first line titled “Token Contract Address”. For added security, you can also verify that the address is correct on the Matic Token Mapper page. Once you’ve filled that line in correctly, the other two fields (“Token Symbol” and “Decimals of Precision”) should auto populate with the correct information (UGT and 18). Then, click “Next”.
Next, MetaMask will ask if you’d like to add UGT to your wallet. Click “Add Tokens”.
Back in your MetaMask wallet, under the “Assets” tab, you should now see UGT.
And that’s all there is to it! See? We knew you could do it! And now you’re ready to buy, sell, and send UGT on Polygon at lightning-fast speeds for almost no gas fees.
One More Thing
While gas fees on some chains make Polygon’s fees seem like nothing, they aren’t exactly free. You will need some MATIC in your wallet to buy, sell, trade, send, or do any other kind of transaction on Polygon. Luckily, the network provides a faucet to help get people started. You can visit the faucet at https://matic.supply/ for enough MATIC to conduct your first few transactions. After claiming your free Matic, you might want to consider heading on over to QuickSwap.Exchange — the largest DEX on Polygon, to purchase a little bit more so you never have to worry about running out of gas.
The Multi-chain Future
We hope you now realize how easy it is to bridge UGT (and any token) from one chain to another using MetaMask. That’s one reason Unreal has always been so fond of the Polygon Network. Polygon doesn’t compete with Ethereum; instead, it strives to help DeFi’s reigning monarch by introducing scaling solutions built on top of the existing system and reducing the load on Ethereum’s network.
At Unreal, we’ve always planned to be a multi-chain protocol. Wherever there are staked assets, Unreal wants to allow users to tokenize their future yield and unlock previously inaccessible liquidity for use right now. We’re grateful that easy-to-use bridges like the one between Polygon and Ethereum help make our goal of interoperability a little bit easier to achieve. We invite our community to join us in celebrating what we hope will be Unreal’s first multi-chain endeavor: Launching on Polygon.
There’s never been a better time to join our growing global community of DeFi enthusiasts. If you’re excited about the future that Unreal makes possible and looking for a community to share your enthusiasm about decentralized finance with, stop by any of our social platforms today to connect with thousands of people who share your passion. We hope to hear from you soon!