Tutorial: How to Move WISE to the Polygon Network for High-ROI on Quickswap
Two weeks ago, WiseSoft integrated with the Polygon (formerly Matic) Network to bring high APY liquidity mining to WISE, through a collaboration with Quickswap. The Quickswap project, like Uniswap, is a decentralized exchange (DEX) for swapping and creating liquidity; however, as a layer 2 solution running on the Polygon Network, Quickswap boasts exceedingly low gas fees.
Investors who add liquidity can expect to receive anywhere between 80–200% annual ROI, depending on the liquidity pool they contribute to. This represents an advantageous and lucrative new use case for WISE token.
Besides netting high APY, liquidity providing with WISE (specifically on ETH/WISE pair) is the safest way to provide liquidity in all of crypto. Check out my previous article to read why this is the case and understand just how big this opportunity really is! Also, check out this video by the founder of WISE Token for more: Video
If you think this is something you’d like to do with your WISE, follow these 12 easy steps.
Alternatively, here is a video tutorial from the WiseSoft CEO explaining the process: Video Tutorial
Let’s get started.
- Get an equal USD value amount of ETH and WISE in your MetaMask Wallet. Liquidity providing requires equal values of the two tokens listed in the liquidity pool pair. The two pools currently available are an ETH/WISE pair and a QUICK/WISE pair (more on this later).
- Go to this Matic Bridge: https://wallet.matic.network. Then connect your MetaMask account in the upper right-hand corner. There is no risk in connecting your wallet here. What you are doing is moving your WISE and ETH over to another decentralized network.
3. Click “Move Funds to Matic Mainnet”
4. Enter the amount of ETH you want to transfer and hit “Transfer.”
Then hit the “Continue” button about four different times until your MetaMask Chrome extension pops up for you to approve your Ethereum gas fee.
There will be two approval steps and it will take around 7–8 minutes to transfer.
After this is done, repeat Step 4 for your WISE by clicking on “Ether” and searching for “Wise Token.”
Select “Wise Token,” add an equal USD value amount, and hit “Transfer.”
5. Once your transfers go through to the Matic Mainnet (which takes several minutes), go to the Quickswap decentralized exchange: https://quickswap.exchange.
6. In the top right corner you will click “Switch to Matic.”
What this is doing is reconfiguring your same MetaMask address but for the Polygon/Matic Network.
You can now switch between the two networks by opening your MetaMask wallet extension network drop-down menu and select either “Ethereum Mainnet” or “Matic Mainnet” depending on the network you wish to use this MetaMask on.
7. Click “Pool” in the top left-hand corner and then click “Add Liquidity” to select the pool you wish to provide liquidity.
8. Search for the Two Tokens you wish to add liquidity for.
If you are looking to add to the ETH/WISE liquidity pair, search for ETH then WISE.
If you’d like to provide to the QUICK/WISE pool for higher APY but more exposure to impermanent loss, then click “Swap” in the top right corner and swap your ETH for QUICK, as you would on Uniswap. Once you have swapped your ETH for an equal amount of QUICK, return to the “Pool” tab, click “Add Liquidity” and search for these two tokens.
9. Enter the number of WISE tokens you wish to add to the liquidity pool. The corresponding number of ETH or QUICK tokens will automatically populate.
If it says “Insufficient Balance” then decrease the number of WISE until this message is gone. A good trick is to click “MAX” on the other token. This will get you to the closest digit of providable liquidity.
10. This is the big one! Click on the “QUICK” tab.
Then, scroll until you find the WISE pool that you provided liquidity towards.
Ex: QUICK/WISE pair. If you provided liquidity using QUICK and WISE, you will go here. You can see the daily rewards for the pool and the total deposits. In this example, 25 QUICK tokens are divided up and proportionally rewarded to the people in this pool daily.
You MUST click “Deposit,” and “Deposit QUICK-V2 LP Tokens” when the menu pops up.
11. Hit “MAX,” followed by “Approve,” and finally “Deposit” (which currently says “Enter an Amount”).
11. Once you have completed this step, you will begin earning daily rewards that correspond to your position in the pool. In this example, I am earning 0.02353 QUICK tokens per day for a liquidity deposit of $2,221. That’s nearly $4 per day (at today’s prices).
12. Lastly, every Sunday you will need to re-deposit your LP tokens under the QUICK tab since rewards restart each week and new pools are created. Being early to deposit each week can be a good way to make a bit more money, since you will have a larger portion of the pool for a few minutes to hours.
You can always check the countdown to the next reward period as well as the status of the pools you are in. Clicking on “Manage” will allow you to claim rewards, withdraw your funds or deposit more.
Conclusion
This represents an exciting new use case for WISE that can be quite lucrative, especially compared to other Ethereum liquidity pools. Already, after just two weeks, $4.4 million have been brought over by the WISE community to claim almost $10,000 in daily rewards. We are proud of our partnership with Quickswap and we will continue looking for new ways to elevate our partnership.
I will also mention that the more money that is brought over for these pairs, the higher the rewards will become for these WISE pools. Happy earning!
About WISE Token
WISE is an innovative cryptocurrency designed to be a fully decentralized store of value that can be easily staked to earn trustless interest. The WiseSoft team, with the help and guidance of the WISE community, is dedicated to making the future of finance completely trustless. For any questions, email the team at contact@wisetoken.net and visit us at www.wisetoken.net. Follow us on Twitter (@Wise_Token) and Instagram (@wisetoken), and subscribe to our YouTube channel (Wise Staking) for the latest news.
Polygon/Quickswap Resources
- Tutorial: https://youtu.be/9VEIVefZD0Q
- Bridge: https://wallet.matic.network
- Quickswap: https://quickswap.exchange
Other Resources
- Wise Token Staking Dashboard: https://wisetoken.net/staking
- Official Wise Token Documentation: https://wisetoken.net/docs
- Telegram: WiseToken
- LinkedIn: WiseSoft, LLC