ETH vs MATIC – Comparison w.r.t. Wei

etherpolygonwei

I just started to understand Polygon network.

As 1 MATIC = 10^18 Wei
and 1 ETH = 10^18 Wei

and Wei is the smallest denomination on both networks, but then

Why is 1 MATIC not equal to 1 ETH
(We have 1 ETH ~= 3000 MATIC today).

As both of them have the same Wei as the lowest value and Polygon is based on Ethereum then, logically 1 MATIC == 1 ETH.

Does it not work this way in Crypto currencies or how are the calculations done then, even though both have the same amount of Wei?

Best Answer

You are mixing up two concepts: units and prices.

Both networks use the same base unit wei for measuring their native asset amounts. Another unit, which builds on top of wei is named differently: Ether and Matic. These two networks are quite independent (although they have lots of stuff in common, and even some one-way coordination) and their assets can't be directly compared to each other.

However, when you're saying 1 ETH ~= 3000 MATIC you are talking about prices. Both networks have different prices for their assets, and one does not depend on the other (although the prices probably somewhat correlate). So if one Ether is today 3000 more expensive than Matic, the ratio could be something completely different tomorrow.

Related Solutions

Polygon Solidity – How to Send Funds on Polygon through Contract

The issue is that your contract is not deployed on Mainnet.

It is deployed on Testnet, but on Mainnet there is no contract code associated with the address.

You should try to deploy it again on Mainnet. As you know, if you use the same address and same nonce as on testnet, you should have the same address for your Mainnet contract.

If you want to receive the MATIC that you sent to the address back, you should add a withdraw function to your contract that transfers all the contract balance to msg.sender. Otherwise, this MATIC will be lost forever.

EDIT: I think that this is your contract on Mainnet. The address is not the same as on Testnet, althought they both start by 0x39! You called the wrong address on Mainnet.

Chainlink – Resolving Deployment Issues to Polygon Mumbai While Importing ChainlinkClient.sol

Without the code, it's hard to tell what's going wrong. But a common issue is because of the fact that the Chainlink Client is not able to identify the LINK token contract address on the Mumbai network. If your code contains the following function in the constructor, that might be the source of error.

constructor() {
    setPublicChainlinkToken();
    //rest of the code
}

This function automatically sets the contract address of the LINK token contract for that particular network. It doesn't work properly for Mumbai Network though. So manually setting it should fix it. It can be done the following way.

constructor() {
    address mumbaiLINKContract = 0x326C977E6efc84E512bB9C30f76E30c160eD06FB;
    setChainlinkToken(mumbaiLINKContract);
    //rest of the code
}

Depending on the network you are using, you'll need to input the right contract address. The address provided in the code above is for the Mumbai testnet.

If this doesn't fix the issue, please share the rest of the code so we can take a look.

Best Answer

Related Solutions

Polygon Solidity – How to Send Funds on Polygon through Contract

Chainlink – Resolving Deployment Issues to Polygon Mumbai While Importing ChainlinkClient.sol

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