Dev Protocol has released Dev Protocol on Layer2's Arbitrum and side chain's Polygon to avoid the recent surge in gas prices on the Ethereum network. By using Layer2, the gas cost for all transactions can be reduced, making staking and onboarding easier than ever. You can continue to use the Dev Protocol on the mainnet, but if you want to onboard the Dev Protocol of Arbitrum or Polygon, you will need to register onboard again.
What is Layer2
Layer2 is a technology that allows you to implement a virtual machine "EVM" that executes contracts such as DeFi and NFT on a blockchain (Layer2) different from the mainnet. Arbitrum is a promising candidate for this technology, and Dev Protocol has released a service to Arbitrum One that has already been deployed.
Why release on Layer 2?
Ethereum Mainnet has maintained high transaction fees due to recent increases in demand. Arbitrum can keep this fee low while using the same system as Ethereum.
What is Polygon?
Launched in 2017 originally as Matic network as an universal blockchain scaling solution, then it was rebranded in early 2021 as Polygon, focusing on being a scaling solution for Ethereum. Since it’s rebranding and change of focus, it has had tremendous success, with solid projects like Uniswap, Aave, OpenSea and upcoming games like Aavegotchi running on the Polygon network.
With the increasing gas fees on Ethereum mainnet, users and developers started looking to find a robust scaling solution. Polygon has been adopted by many, mainly because of its advantages over Ethereum mainnet, being significantly cheaper and faster.
Note1: Even today Matic and Polygon are sometimes used interchangeably, so don’t get confused when you see it.
Note2: MATIC is the token that pays for the gas fees on the Polygon network, so please have some MATIC in your wallet at all times on the Polygon network to pay for all the transactions.
Add Polygon Network to your Wallet
You will need to add Polygon network to your favorite wallet. The easiest way to do it is to go to Chainlist and type in “Polygon”, connect your wallet to “Polygon Mainnet”, make sure the chainID is 137.
If you don’t want to go through the Chainlist route you can also add it manually in your wallet. To do that, open your wallet and click on the Network selection button at the top.
Click on ‘Custom RPC’ at the end of the list. This will open the page below, which will allow you to add the Polygon (MATIC) network to your wallet. Just enter all the details as it is in this image and you will be good to go.
Using the Polygon bridge
Go to the Polygon Bridge, connect your wallet, then you will be able to send tokens from the Ethereum mainnet to the Polygon network. You can also use Polygon Bridge to transfer DEV from the Polygon network to the Ethereum mainnet. https://wallet.polygon.technology/bridge
Just type in the amount of tokens that you want to send to the Polygon network and click on Transfer to do so.
Note: remember that gas fees on the Polygon network are paid with MATIC.
There is a YouTube guide if you still don’t feel comfortable transferring assets between chains:
Make sure you get some MATIC for the onboarding fee costs, it shouldn’t be too much since Polygon is very cheap compared to the Ethereum mainnet.
Go to stakes.social, remember to change your network to Polygon, you can do that directly through your wallet or by clicking on the three dots menu on the top right corner of the page.
By clicking on the menu, you will be able to check in what network you are connected to and be able to select another one and change it.
Now on the same menu, click on the Create button (1) , you will be redirected to the Create an Asset page (2) where you will be asked to submit an application. Fill in the forms (3) and submit, after that, you will be asked to approve it with the signature button and your application will be completed.
If you already have a project onboarded on any other network please do the process again for the Polygon network.
We kindly ask for a week for the team to evaluate the project on the screening process. We will let you know the results via e-mail so please change the filtering setup for your mailbox to receive an email from “@devprotocol.xyz”.
If you have any questions, please follow the onboarding guide, or contact us on Discord.