Ethermine Introductory Polygon Guide

Contents

Overview    1

Why Polygon?    

Okay Fine, But I Hate Reading    

Important Links    

FAQ    2

Getting Started on Metamask    3

Setting up Metamask Video Tutorial    

How to Use Polygon with Ethermine.org  4  

Connecting Metamask to the Ethermine.org Dashboard    

The Basics of Using Polygon    

Payouts    

Using Metamask as a Gateway to View Tokens on Polygon    

The Bridge 5

Bridge Summary    


Overview

Since June 1 2021, Ethermine.org has offered the L2 Polygon payout option, which utilizes the Polygon NetworkPolygon gives the option for both small and large miners alike to have quick and convenient access to the Layer 2 Polygon Network, which lives on top of the Ethereum Chain.

*This guide was written by @Grraarrgghh [ID:291001359224799243] and therefore includes his youtube links.

Why Polygon?


  • Polygon allows miners to receive payouts at a .005 ETH threshold, up to once every 24 hours

  • Payouts on the Polygon network are free, and paid by the pool

  • Polygon, by nature is a DeFi (Decentralized Finance) ecosystem with many native investment projects that users can stake their Ethereum in to multiply their holdings (see this list from DeFi Prime to get started)

  • As a Layer 2 network, swapping and moving coins is extremely cheap (approximately 100 to 1,000 times cheaper than Ethereum Mainnet) within the L2 and to supporting exchanges/wallets


Okay Fine, But I Hate Reading


You can watch this video instead if you prefer: https://www.youtube.com/watch?v=j4dAqdwUlNY


Important Links


  • Polygon Network – The official site of the Polygon project

  • DeFi Prime – Decent (though not complete) list of DeFi and DEX projects on the Polygon Network

  • Polygon Wallet – Where your coins on Polygon live; even if you use Metamask or Walletconnect to access Polygon, your actual tokens are found here

  • Liquidation Guide #1 – A video guide to moving coins directly off Polygon for pennies to Polygon supporting exchanges and wallets, with a frequently updated list of exchanges and their supported coins

  • Liquidation Guide #2 – A video guide to moving coins off Polygon for pennies to any exchange or wallet that supports TRC-20 or XLM transactions

  • The Bridge -  An official Polygon application that supports the direct transaction of Ethereum on the Layer 2 (which is Wrapped, known as $wETH) to the Ethereum Mainnet. It is extraordinarily expensive. Like, $50-$250 expensive, and it does not care how much $wETH you are trying to move. The Bridge does not feel. It does not care. It only feeds. The Bridge is a viable option for moving coins off Polygon, however you are paying for the convenience

  • Metamask – The recommended access Gateway and Authorization tool for Polygon. It works with all DeFi and DEX sites on the Polygon Network, and can be linked directly with Ethermine.org as well.

  • WalletConnect – The alternative to Metamask, WalletConnect allows you to connect any wallet that you own the private keys to (read: non-exchange wallet), and utilize various dApps (Decentralized Applications on the Polygon Network)

  • Ethermine.org Discord – If you have any questions about this guide or Polygon, join us in Discord to get help and advice, or just to chat about crypto mining in general

If you are moving small amounts of Ethereum (less than $500 USD worth), it is recommended that you use the above Liquidation Guides rather than The Bridge to accomplish these transactions.

FAQ 


Q1: Will I receive the $MATIC token as a payout if I choose the Polygon payout method?


A1: No, you will still receive ETH, just on the Polygon Network. As noted earlier, Ethereum on Polygon is “wrapped”, and noted as $wETH.



Q2: What are the requirements/What do I need to start?

A2: It is recommended to start clean by creating a Metamask account and to begin mining into the wallet address provided. This is the most efficient method. You can also use both Metamask and WalletConnect instead to connect to your existing Ethereum wallet, however in both instances you will need your Private Keys to do so. This is not an option for those mining directly to an Exchange wallet.

 
Q3: Can I send my funds to an Exchange if I receive them on the Polygon network?

A3: Some exchanges support direct Polygon Network transactions with certain coins, but it’s not typically as straight forward as directly sending them from one place to another, since they are separate networks. See Liquidation Guide #1 for a detailed overview of this process, and an updated list in the video description of what exchange and coins are currently supported.     
Please do NOT send $wETH directly to an exchange from the Polygon network unless that exchange supports Polygon deposits for that coin. If it does not support Polygon Network for that coin, your funds will be lost.

 

Q4: “I mine directly to an Exchange. Can I still use the Polygon payout method?”

A4: No. As mentioned before, Exchange wallets do not give users access to their Private Keys, so you would be unable to connect it to either Metamask or WalletConnect. It is recommended you complete your current pending payout on Ethereum Mainnet to your Exchange wallet first, then swap to Metamask and begin mining there instead.

Q5: “How quickly can you turn around a payout on Polygon?”

A5: You can turn around your earnings to a Polygon supported exchange with just 3 minutes of effort every 24 hours if you wish.

Q6: "What can I do on Polygon?"

A: Look into DeFi projects! Starting on DeFi Prime you can find projects that interest you, and earn potentially much higher rewards staking in various startups while you continue to mine.

Q7: “This is too complicated for me! Can I receive my payouts as usual?”

A: Yes! Simply keep mining as you already have been. You can still get daily Mainnet payouts with a threshold as low as .01 ETH, but Ethereum gas fees (network fees) will be charged to complete each transaction.


Getting Started on Metamask


You can begin using Polygon through Ethermine.org by either creating a new Metamask wallet and mining directly into it, or by connecting an existing wallet to Metamask using your Private Keys. 

Exchange wallets are not supported.

Setting up Metamask Video Tutorial
https://youtu.be/MfkqgXNPiHg

Change MetaMask’s Language
https://metamask.zendesk.com/hc/en-us/articles/360032949832-How-to-change-the-language-settings-in-MetaMask

How to Import Your Keys/Wallet to MetaMask: 
https://metamask.zendesk.com/hc/en-us/articles/360015489331-How-to-import-an-Account 


How to Use Polygon with Ethermine.org


Connecting Metamask to the Ethermine.org Dashboard

  1. Make sure your dashboard address matches the current wallet address and the Network is “Ethereum”.

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  1. Connect MetaMask with Ethermine.org 



  1. Change your settings and click "Sign & Save Settings”

  1. A drop down will pop on the right side of the browser window which will require you to authorize Metamask to access Ethermine.org

The Basics of Using Polygon


Payouts

All Polygon payouts will show up in your settings tab as purple blocks (as opposed to Orange blocks for Mainnet).

Using Metamask as a Gateway to View Tokens on Polygon


  1. Click the drop-down marked “Ethereum Mainnet” to bring up the available network list, and select “Custom RPC” to add the Polygon Network

  1. Enter the following RPC information exactly as it appears below

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  1. Go to https://wallet.polygon.technology and click “Metamask” to authorize a connection to Login


        


    



  1. Click the ETH token, and select “Metamask” to add the token to your Metamask wallet (Do not skip this step)





  1. You can top up your $MATIC supply to .003 every day for free at various “Faucets”, such as https://macncheese.finance/matic-polygon-mainnet-faucet.php

Note: it’s recommended to try and hold at least .1 MATIC at all times on Polygon to fund transactions in case of network congestion


The Bridge


WARNING

If you are moving small amounts of Ethereum (less than $500 USD worth), it is recommended that you use the below Liquidation Guides rather than The Bridge to accomplish these transactions.


You may find yourself unwilling or unable to perform the steps noted in Liquidation Guide #1 or Liquidation Guide #2 , you can resign yourself to using The Bridge.

This process consists of 2 transactions. One on the Polygon network, the other one on the Ethereum network. As such, you are charged *twice* at a relatively high Ethereum Mainnet gas fee to perform this process. You will also be required to move your tokens from Metamask to an Exchange or other wallet for a third transaction after The Bridge process is complete!


Head over to the Bridge user interface and make sure to have the following settings:


MetaMask Network: Polygon
FROM: Polygon 
TO: Ethereum
Transfer Mode: PoS Bridge



  1. Select which token you would like to transfer using the dropdown

  2. Enter the amount you would like to transfer or select “MAX” to send all

  3. Click “Transfer” to initiate the process



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NOTE: The total cost of the transaction will be displayed at the Transfer Overview. Please ensure you understand that this amount will be deducted from your send amount!

*Wait ~1 hour for the checkpoint on Polygon*


If you mistakenly have closed this page, you can go back to the Bridge interface and press 
Action Required


(It takes a moment for the button to appear!)


  1. Switch your Metamask Network to "Ethereum". 


Make sure your Wallet has ~0.01 ETH on the Ethereum chain to cover these transaction costs!


As you see, this is the most expensive part of the whole process. Withdraw wisely by accumulating some ETH on Polygon to save yourself costs.


Depending on the current market conditions this transaction costs anywhere from $20 to $200.




Once this transaction has been fully processed, the funds will appear in your Metamask wallet on the Ethereum Network. (Change your Metamask network accordingly!)


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You can now send the funds to your Exchange, wherein you will have to pay another Ethereum Mainnet transaction fee.


Bridge Summary



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