In this blog we show you how to add Gnosis Chain to MetaMask wallet. First, we talk a bit about what xDai is and what it does, etc. If you do not want to read about that and directly want to see how to add Gnosis Chain to MetaMask. You can go down this page and start reading “Getting Gnosis Chain on MetaMask”.
What is Gnosis Chain
xDai functions as a stable sidechain next to Ethereum. The xDai sidechain has two main currencies. The first one, xDai, is a token linked to the Dai stable coin. The Dai token created by the MakerDAO protocols has a peck to the dollar of 1 to 1. Making xDai also pegged 1 to 1 with the dollar. On the xDai sidechain, you do not need to pay gas fees in Ether. But rather you pay these fees in xDai. Or better said in Dollars. These gas fees on the xDai chain look like nothing when compared to the Ethereum chain. With a cost of about 0.01$ per 500tx. Besides cost the chain also gives you speed with a confirmation time of 5 seconds. With a TPS of 60 transactions per second. To become a validator on the xDai chain you need the other token, Stake. As the name already says. You need Stake to stake on the chain to secure the chain and validate transactions.
Smart Contracts on Gnosis Chain
Not only can xDai support a large number of small payments at a low price. It can also support smart contracts and Dapps from Ethereum. Because Dapps and smart contracts on Ethereum use a lot of the network’s bandwidth, running them on a sidechain can benefit both chains. Luckily because the xDai chain works as an EVM-compatible chain, smart contracts can deploy on both chains if desired. And the same goes for NFT’s (ERC-721 & ERC-1155).
What is Maker Dao
Known as one of the biggest Defi protocols on Ethereum, the MakerDao protocol creates the Dai stable coin. On MakerDAO users can store their collateral in order to borrow the Dai stable coin. This works in a similar way to how people can ask for a collateralized loan with the bank. The services of MakerDao can be used anywhere, anytime by anyone. Besides working as an easy-to-send digital currency, Dai can also help you get a better interest on your money. With Dai savings giving users more interest than traditional banks do these days.
Wallets that support Gnosis Chain
With the growth of the ecosystems running on xDai, the support of wallets comes along. Already many wallets support the xDai sidechain. With MetaMask of course being one of them. Here you can see some other wallets that support xDai like Bridge wallet, Burner wallet, and Coinbase wallet. Most of the wallets that support xDai either have the chain automatically integrated or require you to add the chain manually. To do this you need the same information as given below in this blog. But note that adding a chain manually might look a bit different. Also do not forget that sending funds from one chain to another without using a bridge can result in a loss of funds. So make sure you never send your Dai or xDai to the other chain without using a bridge.
Getting Genosis Chain on MetaMask
So to add the Gnosis Chain to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page). Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.
Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the xDai.
Now Metamask will ask you for the data needed to connect the wallet to the xDai. Please fill in the list below.
Network Name: - xDaiNew
RPC URL - https://rpc.xdaichain.com/
ChainID - 100
Symbol - xDaiBlock
Explorer URL - https://blockscout.com/poa/xdai
When you have done this, you can just click save. And now you have added the xDai to your MetaMask wallet. If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain. Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc. We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use xDai as much as you want.
Find your wallet here
In case you want to see all the other wallets supporting Gnosis Chain. You can simply take a look here to filter between all wallets that do! So we hope this article taught you more about how you can add the Gnosis Chain to your MetaMask wallet. But in case you have Questions regarding Crypto or Ethereum? Feel free to ask them on our online Facebook or Telegram groups. Because we are happy to help whenever we can! So are you ready to start using your own Blockchain wallet?