How To Get Free MATIC For Polygon DeFi
On Polygon Network, you need MATIC Tokens to pay GAS fees for every transaction. It's same like BNB (Binance Coin) on Binance Smart Chain (BSC) & ETH on Ethereum Blockchain. In order to prepare yourself for the upcoming yield farming platform of Cub Finance on Polygon, you can go ahead and setup your Metamask for Matic Network. Once you are done, the next step is to fill your wallet with MATIC tokens, obviously on MATIC Network. Transferring your ERC-20 Tokens to MATIC Network is so costly because you need to pay GAS fees in ETH for every transaction.
How To Get Free MATIC Via Polygon Faucets
In this blog, I am providing you two Polygon (MATIC) faucets which you can use to kick things off for free or whenever you are out of GAS. This happens to all of us! We all keep forgetting to check our balance. It very easy to get lost in hundreds of transactions we do every day. Once you are done with your Metamask setup for Matic Network, you can use to any of these faucets. Even 0.005 MATIC is enough to do several basic transactions and fill up your account.
MATIC Supply
Matic Supply is quite easy to use. This faucet will only send you 0.0005 MATIC - which is enough to deposit some fund and get started with your DeFi journey on Polygon.
Just hit on "Connect" and it will connect with your Metamask automatically. You need to be on Matic Network (in Metamask) before your proceed.
It will show you your account address and the the current MATIC balance in your account. Once you hit receive, your MATIC tokens (0.0005) will be sent to your address in a few seconds.
Mac & Cheese Finance
I really like the name of this facuet. 😂 Different website but pretty much does the same thing as Matic Supply. You can do this for anyone who wants a little help in getting some GAS money because there is no need to connect your wallet.
Just enter your Polygon Wallet Address and click on "SEND". 0.001 MATIC will be transferred to your account.
Once you are done with the above steps, fill up your MATIC wallet with at least 1 MATIC. So that you don't run of GAS for a very long time. That's just a friendly suggestion. Even 0.1 MATIC is more than enough. I would also suggest you guys to read the information provided in the above websites to know more about Polygon's ecosystem. You might learn something cool about Polygon Network and how it works.
I am sure many of you had a hard time getting your BNB bags loaded up on Metamask for the first time on BSC DeFi platforms like Cub Finance. Most of us have been there! 😂 I hope these faucets will help you get started quickly on Polygon Network. Please reblog and upvote this post for more visibility. Help everyone get onboard!
Posted Using LeoFinance Beta
You did an excellent guide, but now I can't follow you on MATIC, the next thing I wanted to do was understand Cub Finance a little better
Haha! Need to catch up a little bit. But no issues. Understand Cub Finance first and you will follow along soon.
Posted Using LeoFinance Beta
I've made a note of this helpful post in case I decide to go for the Polygon kingdom on CubDefi. Right now that's looking unlikely though. I don't think I understand it enough to get involved in any more.
I'm still struggling to understand the implications of being in the DEC-BUSD Kingdom. I was going to top it up today but then saw that the APY had been halved. Then when I looked more closely at the figures I worked out I'd "lost" 90K DEC in less than a month. 😱
Posted Using LeoFinance Beta
Not a problem @gillianpearce. Please take your time. It's important to understand the risks of DeFi before you put some serious money into it.
What you experienced was impermanent loss. It happens when the price of pooled asset changes. IL can be covered overtime with the rising CUB price.
It's better to put your money in single asset staking like CUB or CAKE Kingdom. Or maybe an LP pair of Stablecoins like BUSD-USDT. Since prices of Stablecoins do not change much, they are resistant to impermanent loss.
Posted Using LeoFinance Beta
However, when I entered the DEC-BUSD pool one of the reasons I did so was because most people were of the opinion that DEC acted like a stablecoin so, to all intents and purposes, I was entering a stable coin pool. 😂
It didn't turn out that way!
But, it's actually helping me learn so that's good. I just have to decide if I want to pay for that learning with my DEC. I don't think it's coming back to the peg anytime soon.
!ENGAGE 30
Posted Using LeoFinance Beta
Hey, thanks for this guide, I just set up my Polygon on Metask and also received my first 0.002 Matic through the Mac and Cheese website, the Matic supply Faucet is a bit sluggish and have failed after numerous attempts hehe.
Posted Using LeoFinance Beta
Awesome mate. That should be enough to fill your bags with more MATIC tokens. ✌️
Many peeps are having problems with Matic Supply. It is working intermittently.
Posted Using LeoFinance Beta
Yeah I will now dive deep into Polygon defi since I have the fees, thanks again
Perfect. Way to go brother.
Posted Using LeoFinance Beta
Thanks for this very useful info. I just set up my Metamask for polygon, in case Leofinance's polygon initiative get interesting.
Tried both faucets and got some Matic from both of them. My current balance is 0.0025 Matic.
Upvoted and rehived.
Posted Using LeoFinance Beta
I tried both, the "Matic supply" is stuck on "sending"
While Mach and Cheese Faucet is "temporarily offline" unfortuntely
Posted Using LeoFinance Beta
I've made a note of this helpful post in case I decide to go for the Polygon kingdom on CubDefi. Right now that's looking unlikely though. I don't think I understand it enough to get involved in any more.
Posted Using LeoFinance Beta
MATIC is very important for the Leofinance application going forward. The fact that Polycub is on Polygon means that the coin is going to have greater importance to defi investors.
Cross chain is becoming a big part of cryptocurrency and blockchain. Transactions are going to happen where they are most efficient. A network like Hive could thrive due to the fact that it has no transaction fees due to the resource credit model it employs.
Have a bit of MATIC in ones Metamask is crucial. All transactions on there require some. Whether buying or selling, there is a fee. Fortunately, unlike Ethereum, the costs are not onerous.
Posted Using LeoFinance Beta
This was a very clear and concise post regarding getting some matic! I'm about to try it myself! hooray!
Posted Using LeoFinance Beta