Polygon’s Bridge for UFT Token by Unilend Is Now Live

Polygon is proving to be a major player, showcasing its prominence even with the downward spiral of cryptocurrencies. Recently, the news of UniLend joining the network surfaced, and now UniLend is also holding a bridge on Polygon.

The bridge will help facilitate a quick and seamless launch for UniLend. They shared their thoughts, stating that while bridging to a layer 2 DeFi platform can seem daunting, it is easier than users believe. Plus, it will enhance activities like staking, borrowing, lending, and digital trading assets.

Polygon’s Bridge for UFT Token by Unilend Is Now Live

Since the move offers such perks, the transition makes complete sense. UniLend also released a guide to help users navigate through the development. The guide shows how to set up a MetaMask wallet to contact Polygon while bridging the UFT token to use on layer 2. Here is how the guide proceeded:

Set Up MetaMask for Polygon

MetaMask is a free and esteemed browser extension used for interacting with blockchain networks. After installing the extension, users need to launch it on their browser. From the Ethereum Mainnet section on the top, tap the down arrow. Now users will see the Custom RPC section.

Polygon’s Bridge for UFT Token by Unilend Is Now Live

After selecting it, a new screen will emerge where the custom RPC can be set up. Users need to input the given data:

Now, tap “Save,” and the process is wrapped up.

Transfer UFT from ETH Mainchain to Polygon

Users need to access the “PoS” bridge to transfer UFT. The process starts by setting up the “Matic Web Wallet V2”. After accessing the wallet, users need to tap on the option – “Move Funds to Matic Mainnet.” Here, submit the token amount and tap “Transfer.” A note stating what is supported and what is not will appear. Click on continue to carry on.

Users need to tap complete three more times after overviewing the details shown on the screen. Finally, the wallet will launch, and a screen showing “transaction is processing” will appear. After a few minutes, the transaction will be completed, and its progress can be tracked on Etherscan. A screen depicting “transaction completed” will appear at the end. Now users need to launch MetaMask and choose Matic Mainnet from the menu. Users can also add UFT as a custom token on Matic Mainnet. Here is how:

  • Launch MetaMask, choose Matic Mainnet, and scroll to Add Token. Use “0x5B4CF2C120A9702225814E18543ee658c5f8631e” in the address space and the other fields will be auto-completed.
  • Tap next and choose Add Tokens on the next page. Now UFT will appear in the wallet home screen under Assets.

As Polygon is already making giant strides, the launch will help both UniLend and Polygon. UniLend also deserves praise for keeping the entire bridging process as simple as shown.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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