What Is Polygon?

Polygon (formerly known as Matic Network) is a structured, easy-to-use platform for Layer 2 and infrastructure development.

Polygon plans to be the first Layer 2 solution aggregator on Ethereum, building a modular, universal and flexible scaling framework for Ethereum. A growing number of DeFi projects such as UMA, Aavegotchi, EasyFi and others already support integration with the Polygon network.

OKX (formerly OKEx), a centralized exchange, has also supported the Polygon ecosystem. Users can now transfer a variety of tokens from OKX to imToken through the Polygon network, saving more on transfer fees while enjoying faster speed.

Update to imToken's latest version to experience the rich ecosystem of the Polygon wallet ~

Creating a Polygon account

To create a Polygon account, navigate to "My Profile" -> "Manage wallets" -> "Add", select the Polygon network, and confirm. Then, return to the wallet homepage to access your newly created Polygon account.

Receiving and Transferring Tokens

You can click “Transfer” or “Receive” on the wallet page to perform corresponding operations.

Receiving Tokens

Click “Receive” and share your QR code with or send the wallet address to the other party to receive tokens.

Transferring Tokens

Click “Transfer”, select the token to be transferred and enter the recipient's address and amount.

Note: please make sure you have sufficient MATIC in your wallet to pay Gas fee before transferring.

Experiencing DApps in the Polygon Ecosystem

Method 1: click “DApps” on the account page to visit various DApps in the Polygon ecosystem.

Method 2: on the “Browser” page, you can directly enter the DApp’s URL in the search box to visit it.

Depositing and Withdrawing

Depositing

​​You can choose either of the following two ways to deposit:

1. Withdrawing from an exchange to your Polygon account in imToken.

2. Depositing tokens from your Ethereum wallet to Polygon one through bridges.

Withdrawing from an Exchange

Take OKX as an example, here are the steps to withdraw from an exchange to your Polygon account in imToken.

1. Open your Polygon account and click your wallet address to copy it.

2. Open OKX, click “Assets” - “Withdraw” and choose the token you want to withdraw. Take MATIC as an example here. On the “Withdrawal” page, please choose “MATIC-Polygon”. After that, enter the amount and copied wallet address then click “Submit” to withdraw.

Note:  depositing and withdrawing through the Polygon network are also available in exchanges such as Binance and FTX. However, there are only a limited types of tokens that can be withdrawn through these two exchanges.

Depositing and Withdrawing Through Bridges

1. Open your ETH account, switch to the “Browser” page, and enter the Polygon Bridge URL https://wallet.polygon.technology/bridge/ to launch the DApp. On the Polygon Bridge page, please choose “Deposit” to select the token you want to deposit. After that, enter the amount then click “Transfer”.

Note: If it’s your first time to use Polygon Bridge, please click "WalletConnect" - "imToken" and sign the greeting message from Polygon.

2. Click “Continue” on the pop-ups of “Important”, “Transfer Overview”, and “Confirm Transfer”. Then, you can transfer tokens from your ETH wallet to Polygon wallet.

Withdrawing

1. Open Polygon account, and enter the Polygon Bridge URL https://wallet.polygon.technology/bridge/ on the “Browser” page to launch the DApp.

On the Polygon Bridge page, click “Withdraw” to select the token you want to withdraw. Next, enter the amount and click “Transfer”.

2. Click “Continue” on the pop-ups of “Transfer Overview” and “Confirm Transfer” to transfer tokens from your Polygon account to ETH account. Please note that the withdrawal takes about three hours.

Note:  the estimated Gas fee will be shown on the “Transfer Overview” pop-up during depositing and withdrawing.

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For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also allows users to use the Polygon wallet.

Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.