Switch your $MYST across Ethereum <> Polygon <> BSC
Mysterium is building an open-source ecosystem of protocols, tools, and Web3 infrastructure that makes the Internet borderless and accessible to all. It's critical for us to make our token, which serves as digital fuel, easily accessible.
That's why earlier this year, we partnered with Anyswap to bridge MYST to the Binance Smart Chain (BSC). Since then, Anyswap have rebranded to Multichain.
We're excited to share that we've moved our token to the Multichain V3 Router, allowing our token holders to bridge MYST between all three available chains; Ethereum, Polygon, and BSC.
We've made a step by step guide below on how to do this below. If you want to skip to that section, press here.
How can node runners and token holders take advantage of the Multichain V3 Router?
Nodes
To register your own node and start earning passive income while sleeping, node runners must use MYST tokens. Due to the network's transition to Mainnet, registration takes place on the Polygon network. You can easily switch your Ethereum or Binance Smart Chain MYST to make it Polygon compatible!
Token holders
MYST holders can also earn passive income by delegating their tokens to the Mysterium Delegation Pool (BETA). At this time, the Pool only accepts Polygon-based MYST. Read all about the BETA pool here.
If you'd like to obtain Polygon MYST, node runners and token holders have several options:
You can buy MYST on one a centralized exchange where MYST is traded, such as Bittrex or HitBTC, and then withdraw it to your wallet, such as Metamask, to bridge MYST tokens. However, this option may not be the cheapest.
You can find Ethereum MYST in the Uniswap V3 pool, and bridge these through the Multichain V3 router.
You can buy BSC MYST on Pancakeswap exchange and then bridge them through the Multichain V3 router.
If you already have funds on the Polygon network, you can use them to buy MYST on the Quickswap exchange.
Then Multichain V3 Router has some important features compared to the V2 Bridge:
Non-Custodial+MPC
Non-custodial services are what differentiate decentralized applications from centralized ones as they do not rely on intermediaries. In this case, Multichain does not own any funds/assets that are owned by an individual. Instead, the entire operational process is handled by trustless smart contracts and the Multichain MPC network.
Native Swap
Native swap makes it less complicated to swap between native tokens across chains. This can be done without the need for wrapped tokens.
Multichain Router
This feature allows users to swap between two chains arbitrarily, reducing fees and making it easier to switch between Chains. Right now, Multichain V3 Router supports the most popular chains, including Ethereum, Polygon (Matic), Fantom, BSC, OkExChain, as well as some others.
How to use the Multichain Router to bridge MYST tokens
You can use the V3 router to bridge MYST tokens between all three chains where MYST is available (Ethereum, BSC and Polygon). In this guide, we will show you how to cross-chain MYST between the Polygon and BSC chains.
START HERE
Go to the Router webpage on the Anyswap Exchange website. Connect your wallet by clicking the button in the top right corner.
You will be prompted to select the wallet you want to connect. For now, we will select Ethereum Wallet.
You will need to approve this transaction in your wallet.
On the “Pool” tab, you can check the available liquidity for Polygon and Ethereum chains. Simply press the arrow next to the amount of MYST available.
You can also add liquidity if you want to support our network. Liquidity can be added to Ethereum and Polygon chains. Step-by-step instructions on how to add or remove liquidity can be found here.
Liquidity for MYST on BSC chain is not required as the token was deployed via the mint and burn a bridge. So every time you want to migrate MYST to BSC, the token will be minted on the Binance network and burned on the Ethereum or Polygon chain.
To bridge the MYST native token, you need to click on the "Bridge" button on the right side as shown in the screenshot below.
You can select the currency you want to bridge from the dropdown list or type MYST in the search box.
Please note that there are restrictions on the minimum and maximum amount of MYST that you can bridge:
The minimum cross-chain amount is 10.2 MYST
The maximum cross-chain amount is 5,100,000 MYST
Please note that the cross-chain fee is 0.1% with a minimum amount of 5.1 MYST.
The estimated time for the cross-chain to arrive is 10-30 minutes. However, if the amount is more than 1.1 million MYST, it may take up to 12 hours.
You can also send funds to another wallet after the cross-chain by clicking the “Send” button.
By default, the Address field will display your wallet address. You can note the address of the recipient you want to send the tokens to. Please make sure that the wallet you entered is compatible with the destination chain. Please do not send assets to exchanges.
After checking your details, click "Approve MYST" to confirm the cross-chain bridge.
You need to confirm this transaction in your wallet.
After your transaction is approved, you need to click on the "Trade" button.
You need to confirm another transaction in your wallet.
Please wait a few minutes to check the status of the cross-chain transaction in the explorer.
You can also bridge tokens between all three chains using the same logic.
For what reason can you use the bridge?
You can use the V3 Router whenever you need to transfer tokens between different networks, for example when arbitrage trading between DEXes. We know what our trading fees are on the Ethereum blockchain. Right now, the swap on Uniswap costs $197.13, which is insane!
However, trading on Polygon and Binance Smart Chains is significantly cheaper - the transaction will cost you less than $0.1. You can use the price discrepancies on DEXes to make some profit.
Mysterium is a grassroots project that would be nothing more than an idea without our node runners, users, and partners who help us create a borderless internet. If you also believe that open internet access should be a basic human right, join us! You can become
👻 a user
🔗 B2B partner or
and do your part to defend our digital rights and freedoms!