There's a sudden increase in price for the Fantom (FTM) token, how can we get on Fantom chain (for those interested)? If you're like me, you've been exploring on Polygon chain and balk at any bridging (bridging = moving funds from one blockchain to another) that requires us to use Ethereum, which is renowned for its high fees.
Before we go on to the steps, it may interest you to know that there's an incentive program that was just announced today - 370m FTM (not USD, but FTM tokens) will be given out as part of the program. Probably why FTM shot up in price? Who knows. Link: https://fantom.foundation/blog/announcing-370m-ftm-incentive-program/
So let's begin our journey! As usual, not financial advice, please do your own due diligence and research.
1. Head over to https://xpollinate.io/ . If you're wondering how safe it is, this bridge is quite a popular one based on social media (take this with a pinch of salt in crypto world).
2. Connect your wallet. You'll also have to sign the transaction. If you're using Metamask, you'll receive a pop-up as below.
3. Select the chain, and in this case, Matic to Fantom. The receiver address may auto-populate once your wallet is connected (which is the case for me). On another note, I had to disable my cookie blocker for this transaction.
4. Input the amount you would like to transfer. Since we're only Polygon (cheap fees hooray!), you're strongly encouraged to start a small transfer. Who knows what will go wrong and your funds become a donation to someone else (i.e. gone and no longer recoverable). Below screenshot is a USD10 transfer of USDC, with a fee of
5. Wait for the transfer... Sad to share, my transaction failed at around the 3-minute mark. That's why you don't move a large sum in your virgin attempt to avoid a heart attack. Since they said "Your funds are safe", so again I tried.
6. ... I failed yet again, this time round from a time-out at the 8-minute mark (this is a good measure I must say, if not who knows how long I'll be waiting till).
7. Decided it's time to do some troubleshooting. Attached is the FAQ for your easy reference as well: https://support.connext.network/hc/en-us/articles/4402845092507-Transfer-was-Cancelled
Too lazy to click the link to find the solution? Well, they just told you to try again. Maybe third time's a charm? So I did. And... I failed.
8. How to withdraw? (Failed too by the way)
Click on the recovery button once the error message pop up. Well, the failed to acquire lock message popped up as well. I've ultimately raised a support ticket for this matter.
For those experienced ones, you may be questioning the level of liquidity. Yes I did notice that table below in the main page which shows the "Exit Liquidity". For my sum of 10 USDC, there's ample supply for it but somehow it just didn't worked out. At this time, it's quite disheartening to fail at the transactions so many times and also with an amount stuck in the platform. Maybe today just wasn't my day. Is 10 USDC gone forever? I don't know man, but 10 USDC wouldn't make me lose my sleep tonight. Hope you guys have much better luck at this than me!
