Tribaldex as an alternative for converting ERC-20 MATIC to Polygon

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Everyone can relate to high gas fees on Ethereum-based transactions.

The other day I finally set out to move my Polygon gaming NFTs on OpenSea to my Ledger hardware wallet. I quickly realized that in order to do this I needed some Polygon (MATIC) for the very small transaction fee with each transfer (a few cents). I have a bunch of old ERC-20 MATIC, but didn't have any Polygon (MATIC).

The recommended methods to obtain Polygon (MATIC) - Uniswap, Polygon Bridge, etc. - were not attractive due to the fees involved (~$100). You can purchase Polygon (MATIC) on Coinex with USDT, but there are exchange-based transfer fees with USDT as well.

A conundrum.

Then, I started digging into the Tribaldex, a Hive engine exchange where I read these types of swaps are possible. I learned you can swap HIVE for Polygon (MATIC), and realized that this would be the most frictionless transaction!

Screen Shot 20211205 at 8.51.17 PM.png

So I used a very small amount of SWAP.HIVE I had siting in my wallet .09 HIVE as I recall, and I swapped it for SWAP.MATIC.

I was almost expecting for SWAP.HIVE to not transfer to my MetaMask wallet, but lo and behold - it worked! I got around .05 Polygon (MATIC), but this is all I needed to move a few of my NFTs from OpenSea to my Ledger wallet because Polygon transactions fees are so low!

Screen Shot 20211205 at 8.09.04 PM.png

I couldn't keep this a secret!

I told the other communities I'm in about my find, as others were struggling with the same issue. Hopefully this will lead more people to the Hive blockchain and they'll realize how awesome it is!

So in case you are wanting to do this, the steps I took were:

  1. Buy some HIVE on your exchange, and transfer to your Hive Wallet
  2. Login to https://tribaldex.com
  3. Deposit a tiny bit of HIVE into your Tribaldex wallet (small fee)

Screen Shot 20211205 at 8.15.47 PM.png

  1. Search for SWAP.MATIC under Tokens

Screen Shot 20211205 at 8.11.50 PM.png

  1. SWAP.HIVE for SWAP.MATIC (I just did a market order)

Screen Shot 20211205 at 8.21.24 PM.png

  1. Add the Polygon network and MATIC token to your MetaMask wallet

Screen Shot 20211205 at 8.22.32 PM.png

  1. Transfer SWAP.MATIC (shows up as Polygon (MATIC) in token dropdown) to your MetaMask wallet address

Screen Shot 20211205 at 8.25.24 PM.png

Screen Shot 20211205 at 8.27.11 PM.png

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