Launching Coinvise on Layer 2 Polygon (Matic) Network
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Gas fees on Ethereum mainnet are high, confirmation times are slow and it’s difficult to scale our platform to a large set of users. We’re officially launching Coinvise on a Layer 2 (L2) solution: Polygon Network (Matic), which is significantly decrease transaction costs for our users (from ~$80 to less than $1).
How it works
Our platform enables creators and communities on the internet to mint and exchange social tokens (personal/community owned cryptocurrencies).
Since we’re operating on the matic network, fees are paid in MATIC token. (learn more here on how to get MATIC). If you have ETH, you can convert ETH to MATIC using Uniswap and deposit them on the Matic Mainnet web wallet. (This process will be significantly easier next week, when we launch our faucet to do this automatically).
- Creating a token: Add in a name and symbol of your token and that’s it. For advanced options like minting tokens on a vesting schedule, bonding curve or pooling liquidity towards your token (by default, tokens minted are utility tokens) contact us on Twitter. (Estimated Transaction Cost: $0.003)
- Airdrop tokens: Airdrop tokens on social media or to an email list — add in the amount of tokens to airdrop, and number of recipients. Our app generates a unique link that can be shared on any social platform and claimed by the number of recipients. Alternatively, our 1-click distribution allows you to upload a list to addresses to send tokens in batch. (Estimated Transaction Cost: $0.50)
- Buy/Sell NFTs: Buy and sell NFTs with your own token or in ETH. It’s free for artists to list NFTs on Coinvise 🌞
- Creator Token Exchange: List your tokens on our exchange to sell them at a price in ETH. (Estimated Transaction Cost: $0.003)
Try it out 👋
Feel free to contact us for any feedback or support. For more updates: join our community on Discord: