OkCoin Integrates Polygon Direct Withdrawals
  • 06/09/2021
  • Written by Jacob

Trading platform Okcoin just announced it has integrated Polygon PoS mainnet providing a way for users to enter the DeFi ecosystem more quickly and affordably than ever before. Users can now withdraw 11 different currency assets directly to Polygon making way for reduced gas fees.

These benefits are compatible with ETH and the following ERC20 tokens: USDT, LINK, MKR, USDC, DAI, USDK, COMP, YFI, SNX, YFII, and UNI.

How to get started:

Step 1. Access your withdrawal dashboard
Instruction: On your Okcoin account, click the Withdrawal button under the Assets scrolling menu.

Step 2. Select your Ethereum withdrawal network
Instruction: Under the ETH withdrawal network menu, select ETH-Polygon.

Step 3. Select your withdrawal options
Instruction: Add the address you want to withdraw to as well as the number of tokens you want to withdraw and click Continue.

Why it matters:

Okcoin is the first regulated U.S. exchange to unroll support for Polygon (formerly Matic). The integration of the Layer 2 sidechain is important because it provides an effective scaling solution for Ethereum which paves the way for cheaper access to decentralized finance protocols. Since mid-April, the Polygon protocol has surged by a jaw-dropping 1400%--a sure sign that Polygon’s internet of blockchains just might provide the missing link required to optimize scalability. 

For more details about the new Polygon integration visit: OkCoin.com

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