Why not accept INR directly?

Accepting INR would make Desipoly an Indian-facing financial service, requiring SEBI, RBI, or gaming-authority licensing — none of which apply to a peer-to-peer prediction market on a public blockchain. USDC-only keeps Desipoly cleanly offshore.

USDC is among the most transparent stablecoins, with monthly attestations by a major accounting firm. That said, holding any crypto asset carries issuer, regulatory, and smart-contract risk. Only trade with what you can afford to lose.

Guides · Mechanics

USDC and crypto settlement

Q: What is USDC?

USDC is a US dollar–pegged stablecoin issued by Circle. One USDC is redeemable for one US dollar, backed by cash and short-duration US Treasuries held in segregated accounts. It's the most widely audited and used stablecoin for regulated-adjacent applications.

Q: Why Polygon?

Polygon PoS offers low gas fees (typically a few cents), fast finality, and deep USDC liquidity. Trading on Ethereum mainnet would cost dollars per trade; Polygon keeps costs retail-friendly.

Desipoly settles every trade in USDC on Polygon. Here's what that means, how to get USDC, and why there's deliberately no INR on-ramp.

What USDC is

USD Coin (USDC) is a dollar-pegged stablecoin issued by Circle. Each USDC is redeemable 1:1 for a US dollar, backed by cash and short-duration US Treasuries held in segregated accounts that are publicly attested to each month.

You can think of it as a dollar that lives on a blockchain — it moves at internet speed, settles in seconds, and doesn't need a bank in the middle.

Why Polygon

Polygon PoS is an Ethereum-compatible Layer-1 with cheap gas and deep USDC liquidity. Trading on Ethereum mainnet can cost dollars per trade in gas; on Polygon it's cents. For retail-sized prediction-market trades, that matters enormously.

Base (Coinbase's Layer-2) is planned for Phase 2 to give users another cheap option.

How to get USDC on Polygon

Install a self-custody wallet (MetaMask, Rainbow, Coinbase Wallet).
Add the Polygon PoS network to your wallet (most wallets have it by default).
Buy USDC on an exchange that supports Polygon withdrawals — Coinbase, Kraken, OKX, Binance, Bitget.
Withdraw to your wallet address, selecting "Polygon" as the network.
Buy a small amount of MATIC for gas (a few dollars is enough for many trades).

Bridging from other chains

If your USDC is on Ethereum mainnet, Arbitrum, or Base, you can bridge it to Polygon using:

Circle's native CCTP (Cross-Chain Transfer Protocol) — the cleanest path.
Polygon Portal (for Ethereum → Polygon PoS).
Aggregators like Across, Socket, Li.Fi.

Bridges have their own risk profile. Use battle-tested ones and move modest amounts first to test.

Why Desipoly doesn't accept INR

The moment Desipoly accepts INR, it becomes an Indian-facing financial service that falls under SEBI, RBI, or state-level gaming regulation. None of those frameworks are designed for peer-to-peer prediction markets on a public blockchain.

By settling exclusively in USDC on Polygon, Desipoly remains cleanly offshore. Users self-custody their own funds; Desipoly never holds INR. See is Desipoly legal in India? for more.

Gas fees, in practice

Every on-chain trade requires gas, paid in MATIC (Polygon's native token). On Polygon, gas for a trade is typically one to five cents. Topping up a few dollars of MATIC lasts a long time.

Withdrawing

Because you hold your USDC in your own wallet, there's no "withdraw from Desipoly" step. When a market resolves in your favor, your winnings land directly in your wallet. You can then:

Keep the USDC for future trades.
Send it to an exchange and sell it into fiat (subject to your local tax rules).
Bridge it to another chain.

Risks to understand

Self-custody. You hold your keys. Lose them, lose your money. There is no password reset.
Bridge risk. Use reputable bridges only. Test with small amounts first.
Stablecoin risk. USDC has depegged briefly in the past. Rare, but possible.
Tax compliance. Crypto gains may be taxable in your jurisdiction. Keep records.