We’ve built the first-ever bridge to Polygon from layer 2, which means users can explore the full benefits of decentralised finance with minimal associated costs.
Using this bridge, DeversiFi users can transfer their assets to the Polygon ecosystem and vice-versa, without having to pass through the L1 mainnet and pay hefty gas fees for the privilege. All deposits and withdrawals will be fast, frictionless and cost-effective – the very best of Ethereum trading.
Why we’ve created the bridge
Polygon hosts more than 3,000 decentralised applications, including games, insurance brokerages and trading platforms like SushiSwap, Curve and Balancer. As an L2 ecosystem, with only minimal fees, it removes the barriers to entry for smaller traders and provides a genuinely level playing field – just like DeversiFi.
Many of our community use Polygon, and vice-versa, so we decided to build a connection between the two protocols. Until now, users wishing to move tokens between ecosystems have had to go via layer 1; it’s not uncommon for traders to pay $100 to move a fraction of that amount.
But by missing out layer 1 entirely, we’re providing a better way to negotiate the DeFi universe. In fact, we’ve removed gas fees from all initial movements, so you can switch tokens between Polygon and DeversiFi for less than a dollar.
For smaller traders, this is particularly great news. All users can benefit from both DeversiFi and the Polygon ecosystem, regardless of their portfolio size. If you prefer to make smaller, more frequent movements, you can do so without your portfolio being drained for the privilege.
At the same time, because the bridge runs on layer 2, it drastically improves the speed of transactions. Deposits and withdrawals from Polygon to DeversiFi take only a few minutes, and moves the other way are even quicker.
Finally, the service is versatile. Initially, you’ll be able to transfer USDC, DAI and USDt, but we’ll be adding more token capacity in due course.
How to use the bridge
It’s mega-simple: simply connect your Metamask wallet to DeversiFi, select the token and amount you want to deposit and then switch the network of origin from Ethereum to Polygon. After you approve the transaction, the tokens will be transferred to your DeversiFi account as soon as the exchange has been executed on-chain (verified and added to the main Ethereum blockchain).
Once the funds have arrived on DeversiFi, you can send the tokens between accounts, withdraw them to layer 1 or simply swap and trade.
To move funds from DeversiFi to Polygon, it’s just as simple. Connect your wallet, go to the withdrawal tab, select the asset you want to withdraw and switch the network to Polygon. Approve the withdrawal and the asset will be transferred to Polygon within a few minutes.
If you want more information about how to transfer tokens from Polygon to DeversiFi, click here. And if you want to move tokens the other way, find out how here.
How the bridge will evolve
Over time, we expect to expand the bridge to allow more tokens to be moved between DeversiFi and Polygon.
By launching with USDC, DAI and USDt, we’re proving what is possible. Ultimately, we may be able to move hundreds of different tokens. And we’ll be opening other bridges too, so people can move between multiple ecosystems.
But no matter how we grow, the core benefits will remain the same. You’ll be able to seize opportunities on both DeversiFi and Polygon as they emerge, and enjoy the respective strengths of each ecosystem.
With DeversiFi you can benefit from instant, gas-free trading and earn rewards for your support. With our new programme, you can claim DVF tokens simply by trading on our platform. And we’re about to launch our first-ever AMM liquidity pools, which will reward you for providing liquidity too.
Using the new bridge, you can move these tokens across to Polygon and utilise the constellation of dapps it offers. Likewise, you can move the tokens you’ve earned and traded on Polygon’s dapps straight over to DeversiFi, and take advantage of both order-book and AMM trading.
Ultimately, both Polygon and DeversiFi are fuelled by the same core mission. We want to make decentralised finance accessible to everyone, and we can’t wait to build this future together.
About DeversiFi
DeversiFi makes DeFi easy. Swap, Invest and Send without paying Ethereum network fees.
Website: https://rhino.fi/
Twitter: https://twitter.com/deversifi
Discord: https://discord.gg/bfNDxZqPSvf
