We all know the big problem the Ethereum network has right now: incredibly high gas fees, that essentially exclude the small guys from using dApps. Just two days ago average speed via https://etherscan.io/gastracker was 1000gwei, making a simple swap with uniswap a costly endeavour worth several hundred USD. Therefore, lets explore the much cheaper MATIC network, which is not only much cheaper (fraction of a cent) but also much faster to use than the Ethereum main net.
1. Setting up MATIC RPG on Metamask
Simply choose the add Custom RPC option in your metamask wallet and paste the following information:
It will then show in your Network list and you will be able to switch in and out of it.
2. Getting funds into your MATIC wallet
There are of course several ways and bridges to get funds into your MATIC wallet. A pretty fast and cost efficient way I discovered for me, starting from Binance exchange and making use of the AscendX (formerly BitMax) Exchange:
- Trade funds you want to send to MATIC wallet into USDT
- Send USDT from Binance to AscendX, use TRC20 network for only 1USDT fee! (This step is crucial because Binance does not offer withdrawals to MATIC network. If you don't have an account yet, kindly use my referral link for a small fee discount for both of us)
- Trade the arriving USDT to MATIC on AscendX and send them to your Metamask adress. Make sure that you select the correct Network!
- Funds then will arrive in no time inside your Metamask wallet!
3. Using your funds on MATIC network
Now let's do something with the funds we got in our MATIC wallet and enjoy the incredibly low and fast network transactions. In your dApp browser go to https://exchange.dfyn.network/ and explore this wonderful DEX. $DFYN or $ROUTE for example are great small caps you can get there, and which many knowledgable people are very high on. Play around a bit, try providing liquidity, look through the pool stats to choose a very profitable one on https://info.dfyn.network/ and farm your LP tokens for huge APR.
Remember, and you might first have to get used to it, you pay almost no fees! You can actually PLAY around and try everything, moving out of a position won't cost you a month's pay like on Uniswap. Enjoy!