In this post, I will show you how to bridge from Polygon(Matic) to Avalanche( Avax)
Avalanche provides a bridging channel Avalanche AB, a transfer medium for ERC20 tokens from the Ethereum blockchain to Avalanche’s chain and vice versa.
Currently, Avalanche is among the top if not the leading ERC20 token movement platforms. Transfer of ERC20 tokens has never been more effortless. In addition to its cheap transaction cost of 1$, if you move assets over 75$, Avax will cover your gas for the first few transactions.
There are many bridge technologies e.g AnySwap, Bridge, RenBridge, Synapse Protocol e.t.c. We will use the Synapse protocol.
What are bridge technologies?
These platforms allow the transfer of one chain’s tokens to another chain or network. Simply bridges will enable the interaction of different chains and networks of decentralized apps.
Synapse protocol is currently the best bridge to move assets from BSC to Avalanche or Polygon to Avalanche.
Why say so? It’s super fast and costs only 1$ to transfer the assets.
Now how do you bridge from Polygon to Avalanche
Transferring your assets is a simple process. First head over to Synapse:
1 Connect your wallet.
Choose your wallet and connect it to the Synapse Protocol.
2 Select moving to Avalanche.
When selecting the chain you want to move to, choose “Avalanche”
3 Select the stablecoin in your current chain.
4 Select the stablecoin you want in your destination i.e. from Polygon to Avalanche.
5 Enter the number of tokens you wish to transfer from Polygon to Avalanche
If its the first time transacting you will need to approve your stablecoin on the synapse protocol
Give it a few minutes and your coins will appear in the Avalanche chain.
How to cash out from Avalanche.
When ready to cash out your stablecoins from Avalanche. Connect your Binance wallet to the Avalanche chain and enter the number of stablecoins. Then choose to receive it as BUSD on Binance Smart Chain. Approve the transaction and wait for the stablecoins to land in your BSC wallet.
After receiving them in your BSC wallet change your network from Avalanche in Metamask to BSC and then select BSC wallet to Binance account.
When choosing to deposit BUSD into Binance account choose the correct network i.e. Binance Smart Chain (BSC).
Now, wait for your stablecoin to arrive in your Binance account.