Ethereum to polygon bridge

The options summarized below are divided into two popular cryptocurrency exchanges(CEX’es) and a cross-chain bridge(smart contract).

#1. Use Binance

The first option that can be used in transferring ETH to Polygon is Binance. Binance is a popular cryptocurrency exchange among traders on a global scale. Also, based on daily(24h) trading volumes, Binance is the biggest cryptocurrency exchange in the world.

As a result of this, it is very easy to trade ETH for fiat or another cryptocurrency, which you should do as well at this point. How to do this?

I’ll assume that you have ETH in Metamask or at another place(wallet or crypto exchange). Particularly, the idea is that you have to send ETH to Binance and then trade this ETH for MATIC tokens.

Ethereum to polygon bridge

The Polygon Bridge is used for cross-chain transactions between the Polygon (MATIC) and Ethereum (ETH) blockchains. It enables users to transfer ERC tokens and NFTs to the Polygon sidechain through smart contracts.

There exist two Polygon bridges: the proof-of-stake (PoS) Bridge, which is the official Matic Bridge, and the Plasma Bridge. Both these bridges allow users to send tokens from Ethereum to Polygon and vice versa but have a different approach to security methods.

Let’s see how it works!

How does the Polygon Bridge work?

The Polygon bridge enhances the Ethereum ecosystem by employing effective tools that help build scalable decentralized applications.

Ethereum to polygon bridge fees

Kucoin

The Asian crypto exchange Kucoin is another option that can be used to transfer ETH to Polygon in the cheapest way possible.

Compared with Binance described above, Kucoin is probably a modern platform for trading any cryptocurrency. In addition, this platform was founded by a group of cryptocurrency enthusiasts from Asia aiming to offer comfort and security to your mighty assets.

As of writing the platform ranks at position 12 on the list of exchanges which is based on trading volume for the past 24 hours. Similarly, the platform specializes in offering trading cryptocurrencies, margin trading, trading futures, and also staking cryptos.

One of the main reasons that I’m mentioning Kucoin in this guide is that you can deposit crypto here very easily.

Ethereum to polygon bridge metamask

In the directory, put the default child ERC-20 contract(opens new window) provided by Polygon.

  • Create 2_deploy_contracts.js in the migrations directory.

  • var ChildERC20 = artifacts.require(“./ChildERC20.sol”); module.exports=function(deployer){ deployer.deploy(ChildERC20,’myL2tokenChild’,’ML2T’,18,’0x2e5e27d50EFa501D90Ad3638ff8441a0C0C0d75e’);};

    where

    • myL2tokenChild — the name of your ERC-20 token.
    • ML2T — the symbol of your ERC-20 token.
    • 18 — the default decimals number as used by the OpenZeppelin ERC-20 preset contract(opens new window).
    • 0x2e5e27d50EFa501D90Ad3638ff8441a0C0C0d75e — the ChildChainManager(opens new window) address on the Polygon PoS Mumbai testnet.

    Eth to polygon bridge gas fee

    This is the version this tutorial used to compile the contract.

  • In Open Source License Type, select MIT License (MIT).
  • Click Continue.
  • Keep the Optimization option set to No as Truffle does not use optimization by default.
  • Paste the entirety of your flattened .sol contract in the Enter the Solidity Contract Code below field.
  • Click Verify and Publish.
  • Etherscan will take a few seconds to complie your contract, verify, and publish it.

    # Create the child Polygon PoS ERC-20 contract

    1. Go to the contracts directory.

    Eth to polygon bridge metamask

    Polygon has been extremely active with its widespread projects in the crypto ecosystem.

    Stay tuned to ImmuneBytes to learn more about the latest updates around the Polygon Network and the crypto world!

    About ImmuneBytes

    ImmuneBytes is a blockchain security company, focused on providing comprehensive smart contract security audit services. We help startups and enterprises safeguard their applications before they turn into expensive exploits. The company was founded with a distinct aim to foster security in the blockchain sphere and an enthusiasm to improve the performance of large-scale systems.

    Blockchain technology has undoubtedly revolutionized many industries.

    However, Blockchain networks are secure, and applications running on them might not be.

    Eth to polygon bridge fee

  • After the challenge period, all you need to do is click continue to send the MATIC tokens to your MetaMask wallet.
  • Now that we’ve learned about how to bridge tokens on Polygon and vice versa, let’s talk about Ethereum’s EIP-1559 upgrade on Polygon.

    Ethereum’s EIP-1559 on Polygon

    The Ethereum Improvement Proposal (EIP) 1559 upgrade was shipped last year with its London hard fork. It has proved to be a success in terms of gas price predictability and network fee burning. The upgrade was launched on Polygon in January 2022, to improve “fee visibility.” It went live at block 23,850,000.

    Ethereum’s EIP-1559 upgrade introduces the same fee-burning mechanism to Polygon, destroying MATIC tokens.

    Cheapest eth to polygon bridge

    Instead, there is a very cheap option that allows you to sent your ETH to Polygon(WETH) by using a cross-chain bridge.

    In short, a cross-chain bridge is an elegant solution in the entire blockchain space that allows you to transfer tokens from one blockchain network to another. In this specific example, the Umbria Narni Bridge allows you to transfer ETH to Polygon and vice versa in just a few clicks. Below are the necessary steps:

    Connect to Bridge

    Make sure you visit this Url: https://bridge.umbria.network/

    Click on ‘Bridge Assets‘ in the upper menu.
    After doing this your Metamask wallet will automatically be connected to the Ethereum Mainnet and you are ready to start using the bridge.

    As an example, I’m going to send my whole ETH balance on Metamask(0.138 ETH) to Polygon blockchain.

    Best eth to polygon bridge

    Additionally, you can see that the calculated fees are very low where I only have to pay 0.0001 ETH(about $0.31 😊) in fees to the network.

    Ultimately, the fees you have to pay are divided into two parts:

    • 0.2% will be deposited to liquidity providers($UMBR token)
    • 0.1% on-chain transaction fee for the blockchain you want to use

    Transfer ETH

    At this point, you are ready to send ETH to the blockchain network you wish which in this case is Polygon. The way this works is that I’m going to send ETH and convert it to WETH on Polygon Matic.

    To do this I have to confirm this transaction with my Metamask wallet by clicking ‘Send(Metamask)‘.

    Cheap eth to polygon bridge

    1. Edit truffle-config.js to change to:
    • Your Polygon PoS node access and credentials
    • Your Polygon PoS account that you will use to deploy the contract
    • The Solidity compiler version used by the default child ERC-20 contract template(opens new window) provided by Polygon

    const HDWalletProvider =require(“@truffle/hdwallet-provider”);const private_key =’PRIVATE_KEY’; module.exports ={networks:{mumbai:{provider:()=newHDWalletProvider(private_key,”ENDPOINT”),network_id:80001}},compilers:{solc:{version:”0.6.6″,}}};

    where

    • mumbai — any network name that you will pass to the truffle migrate –network command.
    • HDWalletProvider — Truffle’s custom provider to sign transactions.
    • PRIVATE_KEY — the private key of your Polygon PoS account that will deploy the contract.
    • ENDPOINT — your Polygon PoS node endpoint.

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