Guide: How to bridge FRAX to Polygon (Matic) network and add liquidity to mStable.

In this guide we are going to explain how to bridge FRAX & USDC (you can also bridge over USDT or DAI) to Polygon (Matic) network then Swap the USDC to mUSD and add liquidity to mStable.

Frax Finance & mStable liquidity program offers FXS & MTA rewards for farmers who add liquidity to FRAX-mUSD pool on mStable on Polygon (Matic) network.

1- How to buy FRAX & USDC Stablecoins?

2- How to bridge FRAX & USDC stablecoins to Polygon (Matic) network ?

  • Now you hold both FRAX and USDC, you will need to bridge your FRAX & USDC stablecoins.
  • head to Polygon (Matic) bridge link : https://wallet.matic.network/bridge/ and connect your MetaMask wallet.
  • you will arrive at this page :
  • Choose the amount of FRAX you would like to bridge and Click “Transfer”.
  • A notification will appear, Click “Continue”.
  • Click “Continue”.
  • Click “Continue” again to confirm your transfer.
  • Click “Continue”.
  • A MetaMask transaction will appear to bridge your FRAX tokens, click “Confirm”.
  • Wait for the transaction to process, this might take several minutes, depending on network demand, then Repeat the same process to bridge your USDC stabelcoins.
  • Now you bridged your FRAX & USDC stablecoins, you will need to switch your MetaMask wallet to Polygon (Matic) network.

3- How to Switch your MetaMask wallet to Polygon (Matic) Mainnet network?

  • To switch your MetaMask to Polygon (Matic) Network, you will find at the top “Ethereum Mainnet” Click on it to open the drop-down menu.
  • At the bottom of the list, you’ll find “Custom RPC”. click on it.
  • The screen below will appear, Enter these details and then Click “Save”:

Network Name: Matic Mainnet

New RPC URL: https://rpc-mainnet.matic.network

Chain ID: 137

Symbol: MATIC

Block Explorer URL: https://explorer.matic.network/

You are now connected to the Polygon (Matic) Network!

4- How to add liquidity to FRAX-mUSD Pool on mStable ?

Step 1

  • Your MetaMask wallet is now connected to Polygon (Matic) network , you will need to add liquidity to mStable.
  • Please head to mStable swap page and connect your wallet: https://app.mstable.org/#/musd/swap
  • You will arrive at this page:
  • Choose the amount of USDC you want to swap to mUSD and click “Mint”.
  • Click “Approve” then “Send transaction”.
  • A MetaMask transaction will appear click “Confirm”.
  • Now you have approved your USDC spending, Click “Mint” then “Send transaction”.
  • A MetaMask transaction will appear click “Confirm”.
  • Now you have swapped your USDC to mUSD you will need to add liquidity.

Step 2

  • Click “Switch to mint via multiple”.
  • Write the amount of FRAX and mUSD you want to add to the liquidity then click on the LOCK icons.
  • Click “Approve” for both FRAX & mUSD spendings and wait until the transactions are confirmed.
  • Click “Deposit” then “Send transaction”.
  • A MetaMask transaction will appear click “Confirm”.
  • Click “Stake” then click on the LOCK icon.
  • Click “Approve” then “Send transaction”..
  • Click “Confirm”.

Step 3 (Staking)

  • Click on Available to add your LPs, Choose the amount of time you like to lock your LPs from 7 days to 1095 days, in this guide we will choose 365 days, then “STAKE”.
  • A MetaMask transaction will appear click “Confirm”.

Congratulations, you have successfully provided liquidity, you should now start receiving FXS & MTA rewards!

About Frax Finance

Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

FRAX : is the stablecoin targeting a tight band around $1/coin.
Frax Shares (FXS) : is the governance token which accrues fees, seigniorage revenue, and excess collateral value.

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Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.