Move MANA between Ethereum and Polygon
The first step toward a layer-2 solution for Decentraland
Today marks the completion of an important first step on the path toward a full layer-2 solution for payments and transactions in Decentraland.
Layer 2 solutions, or L2 for short, are often tossed around in the Ethereum community when debating how best to make dApps more scalable and affordable. In a very small nutshell, a layer 2 solution includes a blockchain separate from, yet still linked to, a mainchain (like Ethereum). A dApp (or decentralized app) using an L2 solution allows users to transfer tokens and assets from the mainchain to the secondary chain - where they can then conduct transactions at significantly faster transaction times with low to non-existent fees.
As of today, the Decentraland dApps suite now features an account portal where you can move your MANA from the Ethereum blockchain to Polygon’s Matic Network (and back).
This is part of a larger effort to integrate all Decentraland dApps with Polygon (previously Matic Network. When complete, users will be able to claim, buy, sell, and trade wearables for their avatars entirely on Polygon, with no transaction fees.
Wait, no transaction fees? How can that be?
Given the already tiny gas fees provided by Polygon, Decentraland’s dApps will be integrated with Biconomy.io to provide meta-transactions. When you want to conduct a transaction on Polygon, you’ll only have to provide a digital signature via your wallet. Decentraland takes care of the rest.
What’s Polygon, and why is this so exciting?
Any time you conduct a transaction on the main Ethereum blockchain, you have to pay a transaction, or “gas”, fee. This fee is collected by miners who are tasked with committing and confirming your transaction to the Ethereum blockchain. As Ethereum gains popularity and the number of transactions submitted increases, the network becomes congested and users are forced to pay higher gas fees.
Enter the classic problem of scalability. How do we build decentralized applications generating thousands of transactions without bogging down the blockchain and charging users exorbitant gas fees?
The solution is a second blockchain built to handle the many “microtransactions” generated by normal, everyday dApp use. Polygon has built just such a scalability solution using a secondary blockchain secured by a network of Proof-of-Stake validators. For a deeper look at how Polygon’s Matic Network works, check out their documentation.
While today’s release adds the ability to transfer assets in Decentraland from Etherum to Polygon, we won’t see the full effects until Decentraland’s Builder and Marketplace have been updated to support transactions on Polygon, which we can expect to see this coming May. At that point, the wearables marketplace will be open to all creators with new wearables being minted on Polygon’s Matic network!
Any scenes already built with support for these transactions can immediately make use of today’s release. If you’re a developer interested in adding Polygon support to your scenes, head over to the docs for an introduction to Decentraland’s L2 Utilities.
Getting started with MANA on Polygon
To start balancing your ETH and Polygon MANA, navigate to account.decentraland.org and sign in with Metamask or Fortmatic. Here you’ll find an overview of your MANA balances on each blockchain, or “network”, along with a record of any recent transactions.
Remember that Polygon’s Matic Network is a separate blockchain from Ethereum, and it takes time to transfer assets from one blockchain to another. When depositing MANA from Ethereum into Polygon, you can expect a delay of up to 10 minutes. When withdrawing MANA from Polygon back into Ethereum, the delay can reach 30 minutes. These delays are due to the measures taken to secure your assets while they are on Polygon’s sidechain.
But have no fear, you can still expect lightning fast transactions for any actions taken solely on Polygon’s sidechain.
Moving MANA to Polygon
To move MANA to Polygon, click Swap next to your MANA balance. Then enter the amount of MANA you’d like to transfer, make sure that “MANA Approved” is checked, and click Complete Deposit. After a delay of roughly 10 minutes, you can expect to see your transferred MANA added to your Polygon balance.
Withdrawing MANA from Polygon
To withdraw your MANA from Polygon, simply reverse the process. Click Swap next to your Polygon MANA balance. Enter the amount you want to withdraw and click Start Withdrawal. After a delay of roughly 30 minutes, click Complete Withdrawal to finalize the transfer.
Purchase MANA with a credit card on Transak
Thanks to a new integration with Transak, you can now purchase MANA with a credit card directly from the accounts page by clicking the Buy button. Next, enter the amount of MANA you’d like to purchase in the widget along with your credit card information.
You can even purchase MANA to be deposited directly into your Polygon MANA account.
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