When you’re transferring Ethereum around the web, there are benefits to utilizing L2 chains rather than the Ethereum mainnet.
Hop is a service you can use to “hop” your currency directly from Layer 2 blockchain to Layer 2 blockchain, without paying the high gas fees often associated with crossing the Ethereum L1 blockchain.
Polygon is a popular L2 blockchain that developers can use to create and host decentralized apps.
Error using Hop with Polygon
When trying to use Hop to transfer money out of Polygon to another Layer 2 chain, you may encounter the following error.
insufficient funds for intrinsic transaction cost ()ApproveSend
Polygon uses a token called “MATIC” as currency. Even if you have what should be enough MATIC to cover the small amount of gas needed for the transaction, this error indicates that you need more in your wallet for the transaction to go through. If you get the error “insufficient funds for intrinsic transaction cost ()ApproveSend“, the first thing to try is to purchase more MATIC token to cover the gas costs.
How much MATIC do you need?
Like everything in crypto, this will change over time. Currently, 1 MATIC is supposed to cover approximately 1000 trades. You can find the current cost of MATIC in USD here.