Polygon network: Common Questions
Polygon network is now fully supported in Atomic Wallet! In this article we'll answer the most common questions about the network and how it works in our wallet.
- What is Polygon network?
- What assets does Polygon network support?
- Are Polygon tokens different from other cryptocurrencies?
- What are the fees for Polygon transactions?
- What Polygon tokens does Atomic Wallet support?
- How do I add a Polygon token to my wallet?
- Why do Polygon tokens have the same address as ETH?
What is Polygon network?
Polygon (previously Matic Network) is a network of L2 solutions and autonomous sidechains. Its main goal is to improve scalability of the Ethereum blockchain and reduce the transaction costs. Along with that, PoS provides asset security using the robust Plasma bridging framework and a decentralized network of Proof-of-Stake (PoS) validators. You can find more information about the Polygon network here.
What assets does Polygon network support?
The main asset of this network is MATIC. It is used to cover the transaction fees. But the network also supports a variety of other tokens, such as stablecoins, wrapped ETH, and many others. The full list can be found here. Best of all, Atomic Wallet supports all of them! Read on to learn how to add Polygon tokens.
Are Polygon tokens different from other cryptocurrencies?
Polygon tokens differ from other coins like BTC or ETH in the same manner as any tokens differ from main net coins. Polygon tokens run on the Polygon network and they all have the same address. A single address may have dozens of different tokens on it. In comparison, BTC has its own blockchain and each address can only hold BTC. Polygon tokens transactions can be traced using one block explorer and do not require a different block explorer for each token.
What are the fees for the Polygon transactions?
All Polygon transactions require a network fee to be paid in MATIC. Similarly to how ERC20 tokens require a fee to be paid in ETH. Thusly, if you wish to transfer your Polygon tokens, make sure to deposit some Matic to your wallet. Keep in mind that the fee can only be paid in MATIC, it is not possible to cover the fee using the token you are trying to transfer.
What Polygon tokens does Atomic Wallet support?
All of them, as mentioned above! Some of them are featured in the wallet by default and some of them you will have to send to your address before you could see them in your wallet. Some of the tokens that are presented by default are: MATIC, USDT, USDC, DAI, SAND.
How do I add a Polygon token to my wallet?
If the token you wish to have in your wallet is not presented by default, all you need to do is to send this token to your MATIC address. The wallet will display all the Polygon tokens that you have on your MATIC address.
Note: After you have deposited some Polygon tokens into your wallet, make sure to relaunch (close and reopen) your wallet. If you have deposited tokens to that address, relaunched it and still can't see the token in your wallet, make sure it's not filtered out.
Why do Polygon tokens have the same address as ETH?
The Polygon network is an ETH sidechain and as such, it is compatible with the Ethereum network. Both of these blockchain networks have similar infrastructure, which is why they have the same address in your wallet. It is done in order to make sure that your funds are not permanently lost when you send them via the wrong network. For example, if you send a token to your ETH via the BSC network, the funds will still be on the blockchain and you'll be able to retrieve them.