How To Transfer Funds From Polygon to BSC
Navigating the multi-chain ecosystem can be difficult for those just getting started in DeFi. This article aims to simplify the process into easy-to-follow steps. Thanks to the Router protocol, users can seamlessly move funds from Polygon to BSC at a very low cost. Let’s get started and see Router Protocol in action!
Step 1: Navigate to https://app.routerprotocol.com/swap.
The screen should look something like this:
Step 2: Select the source and the destination chain.
The source chain is the chain you currently have funds on. You will also need to make sure your MetaMask wallet is set to this network. Destination chain is the chain you would like to move funds to. In this case, our source chain is Polygon, and the destination chain is BSC.
Step 3: Select fee token.
A unique feature of Router is that it lets users choose which token they would like to pay the transaction fees with. Current options are USDC, DFYN, ROUTE, MATIC, or BNB. Note that transaction fees paid in ROUTE receive a 50% concession and fees paid in DFYN receive.
- As an added incentive for our community, users will receive a 50% discount on fees paid in $ROUTE tokens and a 20% discount on fees paid in $DFYN tokens.
- Ensure that you have a sufficient amount of the chosen fee token in your wallet to pay for the transaction fees. By default, the “Fee Token” will be set to the source chain’s native gas token (in this case, MATIC).
Step 4: Select the asset you wish to bridge from Polygon to BSC. In this case, we will be moving USDT from Polygon to BSC.
Step 5: Enter the number of tokens you wish to transfer.
- It might take a few seconds for the pathfinder algorithm to estimate the number of tokens to be received on the destination side. Behind the hood, Router’s pathfinder algorithm finds the most optimal route to transfer your tokens across the two chains.
- You can use the settings menu to tweak the slippage parameter and toggle the expert mode. Having the expert mode turned on gives you the option to send assets to a different address on the destination chain.
Step 6: Once the pathfinder is done estimating the number of tokens to be received on the destination chain, click on “Swap”.
Step 7: Give Router the requisite permissions. In this case, Router asks us for ROUTE approval because we are paying the transaction fees using the ROUTE token.
By default, Router asks you for infinite approval so that you don’t need to give approval every time you do a transaction. You can choose not to give infinite approval by toggling the “Infinite Approval” button.
Step 8: After approving the tokens successfully, you will see the following screen:
Review the transaction details and click on “Confirm Swap”.
Step 9: Confirm the transaction from your wallet.
Once you confirm the transaction in your wallet, you can monitor the status of your transaction using the graphic at the bottom of your screen. Once the transaction is complete, check your wallet to ensure that you have received your funds.
About Router Protocol
Router Protocol is building a suite of cross-chain infra primitives that aims to enable blockchain interoperability between current and emerging Layer 1 and Layer 2 blockchains.
Telegram announcements: https://t.me/router_ann