This article is a complete guide on how to add Polygon (Matic Network) to Metamask. Let’s take a look at it in more detail.
What is Polygon (Matic Network)?
The Matic Network is a platform enabling Ethereum scaling and foundation development. Lately, the project was renamed Polygon, but the trading ticker is MATIC. This Layer 2 scaling solution is supported by Binance and Coinbase and is already utilized by several projects like Aavegotchi and others.
MATIC is the native token of Polygon. It is an ERC-20 token operating on the Ethereum blockchain. The tokens exchange services on Polygon and serve as a contract currency between users who run within the Polygon ecosystem. The transaction fees on Polygon are paid in MATIC tokens.
MATIC tokens are released every month. MATIC currently has a circulating supply of 5,188,388,130 MATIC coins and a max supply of 10,000,000,000 MATIC tokens. The outstanding MATIC tokens are distributed out of total supply as follows:
- Team tokens: 16%
- Advisors tokens: 4%
- Network tokens: 12%
- Foundation tokens: 21.86%
- Ecosystem tokens: 23.33%
What is Metamask?
MetaMask is a cryptocurrency wallet. This wallet communicates with the Ethereum blockchain. It enables users to enter their Ethereum wallet via a browser extension or mobile app. It then communicates with decentralized applications.
How to Set up Polygon (Matic Network) on Metamask?
To set up the MetaMask for the Polygon, users should add a custom RPC. To accomplish this, first, click on the Network Selection button at the top of the MetaMask app.
Next, click on Custom RPC. Users will find the Custom RPC option at the bottom. The next step will be to add the expected data as shown below:
Network name: Matic Mainnet
New RPC URL: https://rpc-mainnet.maticvigil.com/
Chain ID: 137
Currency symbol: MATIC
Block Explorer URL: https://explorer.matic.network/
Once users have added the URL in the New Network field, click on Save. They will later shift to Matic’s Mainnet now in the network dropdown list.
MATIC coin is available on many major exchanges. When purchasing a cryptocurrency from an exchange, it is always necessary to pick a reliable one. In fact, we recommend using Binance to buy MATIC.