Bridging your assets between chains is one of the most confusing and frustrating parts of the #DeFi experience.
This is a barrier that holds a lot of people back from participating in DeFi. Here are some solutions/workarounds I have found
Use an exchange like @binance, @gate_io, @kucoincom
This is the easiest method. Buy $LUNA / $FTM / $AVAX / $MATIC and withdraw directly to the chain of your choice.
@coinbase, unfortunately, doesn't let you withdraw to most chains except $ETH. Very frustrating.
Example: If you already have funds in the Ethereum network, I would probably do the following:
- Send $ETH to @binance / @gate_io
- Sell $ETH for $USDT
- Buy $MATIC with $USDT
- Withdraw $MATIC to Polygon network
- Use QuickSwap to exchange $MATIC for $ETH
- You saved ~$100
You'll pay a lot less in fees this way than using @0xPolygon's official bridge.
A few $ vs $100. This is especially important if you're bridging a smaller amount.
And you can actually use #DeFi now.
DeFi is virtually unusable on $ETH with smaller amounts of money.
At least until ETH 2.0, the gas fees will eat you alive. Very little room for error/experimentation.
If you want to actually use DeFi, bridge your funds over to $LUNA / $AVAX / $FTM / $MATIC
5/ If you already have funds in a low fee network like $MATIC or $AVAX, then you can use @evolution_bsc to move funds to another network.
I tried it today - pretty great experience.
- Can only send $USDC / $USDT
- $50 minimum
- 0.5% fee