We're thrilled to announce that XSGD & XIDR (Polygon) is now available natively on the StraitsX platform.
XSGD & XIDR (Polygon) features fast and efficient transactions. Transactions on the Polygon network are significantly more cost-effective on the Ethereum network. Known as a ‘layer 2’ scaling solution, Polygon is designed to run decentralized applications (dApps) built for Ethereum, enabling developers to quickly scale their dApps to run on faster, more efficient infrastructure and accelerate access to Web3, decentralized finance (DeFi) and NFT markets. At the time of writing, there are more than 37,000 dApps supporting Polygon.
StraitsX users are able to transfer and mint XSGD & XIDR (Polygon) directly from their StraitsX accounts starting today. XSGD & XIDR (Polygon) transferred into StraitsX accounts can seamlessly be converted back to SGD.
The contract address for XSGD (Polygon) is 0xDC3326e71D45186F113a2F448984CA0e8D201995
The contract address for XIDR (Polygon) is 0x2c826035c1C36986117A0e949bD6ad4baB54afE2
To view your assets on Polygon, ensure that your Metamask wallet is configured to the Polygon network by accessing settings and configuring a custom RPC.
Once you’ve added the information click on Save. You will be directly switched to Polygon’s Mainnet now in the network dropdown list.
To add XSGD/XIDR to your Metamask, select import token and add the XSGD (Polygon) or XIDR (Polygon) contract address.
For XSGD holders who have previously bridged XSGD via the Polygon - Ethereum Bridge, known as XSGD (Bridged), users will need to “unbridge” XSGD (Bridged) back to XSGD (ERC-20) to off-ramp back to Singapore dollars on the StraitsX platform. The StraitsX platform does not support XSGD (Bridged). Please be advised to not send XSGD (Bridged) to your StraitsX account.
XSGD (Bridged) with contract address 0x769434dcA303597C8fc4997Bf3DAB233e961Eda2 will not be supported by StraitsX.
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 compared to the Ethereum blockchain.