In addition to Ethereum-based projects, we see various blockchain networks coming up in the defi market. In other words, many amazing projects are likely to be deployed on Binance Smart Chain, Fantom, Polygon, Avalanche, Solana networks etc. which enrich the defi ecosystems and inevitably, the most majority of people are likely to hold multiple assets today. Therefore, the exchange between crypto assets from different chains is growing very fast.

Many bridges play an essential role on cross-chain transfer. Especially they support transferring Ethereum-based tokens to another one. The cross-chain swap between non-Ethereum based tokens is less common. However, the rapid growth of multi chains has changed this situation gradually.

In the following paragraphs, I am going to give an example that converts BSC tokens to Polygon assets for the purpose of staking them on a Polygon project.

ApeSwap is originally a BSC project focusing on yield farming, and it is one of my favorite BSC projects. As the popularity of Polygon network remains high these few months, ApeSwap expands its liquidity mining to Polygon network. There are a few Polygon projects now making use of ApeSwap LP for mining.

Banana token is the native token of ApeSwap that both versions of Banana are available. To switch BSC Banana for Polygon Banana, it is recommended by using MultiChain, which this cross-chain swap can be done shortly.

ApeSwap has its own liquidity pool of Polygon network as well. Suppose we choose WMatic-Banana pair to add liquidity and receive certain amount of LP token. This LP token could be staked on Polycat, which is one of the Polygon projects.

Besides, single token stake is also available. For example, Polygon-based project known as PolyYeld has Banana pool for stake. There are two methods getting Banana token of Polygon network. the first one is using MultiChain as mentioned earlier. The second one is using swap feature of ApeSwap directly if you have other Polygon assets available.

The example given above is for teaching purpose only and not any financial advice. In fact, any altcoins can be very high risk due to price fluctuation dramatically and impermanent loss often occurs. In such situations, any high APR or APY is meaningless.