Polygon (Previously known as the Matic network) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
Also known as a layer-2 scaling platform, the Polygon chain exists on top of the Ethereum blockchain. The Polygon chain boasts lower gas fees and faster speeds in comparison to the Ethereum blockchain. Users can transfer their ERC-20 token (now known as a Root token) to an equivalent Polygon token (now known as a Child Token) via the Polygon bridge.
We're thrilled to announce that XSGD (Polygon) is now available via the Polygon - Ethereum Bridge.
To transfer your XSGD (ERC-20) to XSGD (Polygon), connect your wallet to the Polygon Web Wallet. As of the time of writing, three wallets - Metamask, WalletConnect and Coinbase Wallet are supported.
Next, on the wallet home page, search for XSGD.
Click on the deposit button to begin the swap of your XSGD (ERC-20) to XSGD (Polygon). Please note that you will need Ethereum (ETH) tokens to pay Ethereum gas fees to complete the transaction.
To swap your XSGD (Polygon) back to XSGD (ERC-20), simply click on withdraw to complete the transaction. Please note that you will need Polygon (MATIC) tokens to pay MATIC gas fees to complete the transaction.
To view your assets on Polygon, ensure that your wallet is configured to the Polygon network.
To add XSGD to your Polygon wallet, select custom token and add the XSGD (Polygon) contract address.
The XSGD (Polygon) Contract Address is 0x769434dca303597c8fc4997bf3dab233e961eda2
Currently, XSGD (Polygon) is supported by our partner, DFX Finance.
The StraitsX Singapore dollar, XSGD is a stablecoin issued by Xfers, a major payment institution in Singapore licensed for e-money issuance. Each XSGD is backed one-for-one with the Singapore dollar and is supported on the Zilliqa and Ethereum blockchains. XSGD enables frictionless settlement, 24/7 without the need for a third party clearing agent. XSGD is the largest stablecoin by market capitalization in Southeast Asia and has surpassed over 1B Singapore dollars in on-chain transactions.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence.