Users can now pay the network fee in USDC rather than ETH, which increases the convenience to only own one coin and decreases the exposure to ETH volatility.
1) Send USDC to your designated address
2) Initiate your deposit
3) Receive your funds in 10 minutes
It's that simple!
The traditional network fee is paid in ETH as an additional cost to your deposit. The new way will allow you to pay the fee in USDC directly from your deposit amount. This way, you don't have to worry about the hassle of owning ETH and you can save time as well!
Direct USDC deposits are fully decentralized, meaning that any person can decide to help Polymarket provide this service. People are incentivized to help through a relayer fee. The relayer fee will be either (1) $3 + the network fee or (2) 0.3%, depending on which is higher. If the gas fee is 10 USDC, that means that the relayer fee will default to 3 USDC unless the deposit is greater than 4,333.33 USDC (4,333 * 0.3% = 10 + 3).
Direct USDC deposits work with a different address than our old method. Please head to https://manual.polymarket.com/ to process your deposit.
We apologize for the inconvenience and confusion this may have caused. Please message us on Intercom and we will reimburse you for the transaction.