Exploring Blockchain Transactions through xLog Tokens

First, a brief introduction to xLog: xLog is the best on-chain and open-source blog community for everyone, available at and

xLog is currently running a creator incentive program, offering $10,000 USDC to incentivize creators. For those who love writing, don't miss out. In this article, I will share my experience of withdrawing funds.

xLog uses the Crossbell blockchain. Let's take a look at what it is.

Crossbell blockchain is a platform that allows users to own and monetize their social activities. It is an EVM-compatible blockchain with a set of smart contracts to implement the protocol. Users can also synchronize their social media accounts to the Crossbell blockchain using the xSync feature.

It can be understood as a blockchain that solves the problem of social content ownership. When we post content on platforms like Weibo, we are users. Although we create the content, it is stored on the platform. For example, Weibo can delete, hide, or even ban your account.

Crossbell can solve this problem by making us the owners of the content, giving us the right to dispose of it. It also provides a set of tools to facilitate social interactions, such as following and content promotion.

Incentive Program#

Now let's continue. As a Web3 novice, I'm still quite unfamiliar with blockchain-related things, especially when it comes to transactions. Participating in xLog's incentive program will give me a deep understanding through my own experience of withdrawing funds.

The xLog incentive program is distributed through $MIRA, an ERC20 token on the Crossbell chain.

At this point, I have two questions:

  1. What is ERC20?

    ERC20 is one of the most common token standards on the Ethereum blockchain. It defines a smart contract interface for issuing and managing tokens. ERC stands for "Ethereum Request for Comments," and 20 is the numerical identifier for this standard.

    Under the ERC20 standard, any smart contract that meets the requirements can issue tokens and trade them on the Ethereum network. These tokens can be used in various scenarios, such as digital currencies and securities.

    In short, ERC20 is a specification or standard that facilitates interoperability with other smart contracts and applications, allowing tokens to circulate easily on the Ethereum network.

  2. What is the relationship between $MIRA and $CSB?

    According to xLog's description, $CSB is a token used for interactions on the Crossbell blockchain. We use this token for actions like writing articles, so it's familiar to us.

    From my understanding, $CSB, as the token of Crossbell, is mainly used for operating social-related functions, such as publishing articles. It can be obtained for free if the amount is below a certain threshold. On the other hand, $MIRA is an ERC20-compliant token primarily used for transactions, with a 1:1 peg to the stablecoin USDC.

Since $MIRA is not listed on any exchanges yet, it may need to be freely exchanged through Uniswap. Currently, it is only available on the Polygon network with a token address.

Uniswap and Polygon#

Let's learn about the Uniswap platform:

Uniswap is a decentralized exchange protocol running on the Ethereum blockchain. It uses an automated market maker mechanism, allowing users to trade cryptocurrencies without intermediaries.

As mentioned earlier, since $MIRA is not listed on exchanges and it complies with the ERC20 standard, we need a tool to convert it to a more widely used digital currency.

Polygon is a framework for building Ethereum-compatible blockchain networks and scaling solutions. It uses a Proof-of-Stake (PoS) mechanism to process on-chain transactions, providing faster speed, higher scalability, and lower transaction fees.

Polygon's native token is $MATIC, an ERC-20 token that can be exchanged with other Ethereum-compatible tokens.

Both Polygon and ETH support smart contracts and decentralized applications. Polygon is a multi-chain network designed to address Ethereum's scalability and cost issues. It provides a second-layer solution for fast and inexpensive transactions on Polygon, which are then anchored to the Ethereum mainnet.

From this, I understand that $MIRA, because it is not listed, cannot be directly traded. However, it can be exchanged for popular tokens like USDC on the Polygon network. This exchange process requires the use of the decentralized exchange protocol Uniswap.

Extraction to Polygon#

According to, the first step is to extract our $MIRA from Crossbell to the Polygon network for the subsequent exchange to USDC.

This step consists of 5 steps, and operationally, you just need to follow the prompts. However, I want to understand the process.


Here is my understanding:

  1. Switch to the Crossbell network

    This is easy to understand. Since $MIRA is a token on the Crossbell network, the transfer process needs to be done on the Crossbell network. Clicking on your wallet will prompt you to switch to the corresponding network. If you are already on the Crossbell network, proceed to the next step.

  2. Approve token

    Since we want to transfer $MIRA, we need to confirm that this operation is authorized by us. Clicking on "Approve" will prompt us to confirm the authorized transfer amount. Since this step is done on the Crossbell network, the transaction fee will be paid in the corresponding token, $CSB, although it will show as 0.

  3. Request exchange

    This step is the actual process of exchanging $MIRA to the Crossbell mainnet. Since the transaction requires support from Crossbell, we cannot directly extract it from our wallet to another network. Therefore, we need to exchange it to the Crossbell chain first. The detailed transaction records can be viewed in the wallet's activity history.

    This step incurs a certain amount of gas fees, which are paid in the corresponding token on the Crossbell network, $CSB.

  4. Switch network

    Next, we are ready to extract our transferred $MIRA from the Crossbell network to the Polygon network. Since this operation is done on the Polygon network, we need to switch to Polygon.

  5. Extraction

    This is the final step, where we need to go to the Polygon network and extract the $MIRA from the Crossbell network to our wallet on the Polygon network.

    Since this operation is done on the Polygon network, the gas fees are paid in the native token of Polygon, $MATIC.

After completing these 5 steps, the $MIRA in our wallet on the Crossbell network has been transferred to $MIRA on the Polygon network.

Many users may encounter the issue of insufficient balance. As a newcomer to the cryptocurrency world, it's normal not to have any $MATIC in your wallet. However, in Step 5 (and later), you need $MATIC to pay for the transaction fees.

This is a characteristic of blockchain. Without transaction fees, miners on the Polygon network won't process your transactions for free. You can choose to buy some $MATIC on exchanges like OKEx or Binance and transfer it to your wallet. Alternatively, you can try your luck on xLog's Discord to see if someone is willing to trade with you.

PS: If you don't have any friends in the cryptocurrency world or don't want to use exchanges, you can ask for help on xLog's Discord to find someone willing to trade with you.

If you choose to use an exchange, it's better to use a separate and clean account or card. Most exchanges use C2C (customer-to-customer) transactions for deposits and withdrawals, which means you transfer money to someone and they transfer coins to you, or vice versa. However, you cannot be sure if their money or coins are clean. Transactions related to money laundering may result in your account being frozen. Deposits are generally fine, but withdrawals should be handled with caution.

Exchange to USDC#

Since $MIRA is not listed on exchanges, it only makes sense to exchange the $MIRA token on the Polygon network for other popular tokens. In this case, I choose USDC. I have also exchanged for USDT before, and it worked fine.

This step is done on Uniswap. As mentioned in, you need to confirm that you are currently on the Polygon network and then proceed with the approval process, which incurs a small fee. After that, you execute the contract for the exchange, which also incurs a transaction fee. Once successful, you can view the details of the contract and wait for a while for the new tokens to appear in your wallet.

Reviewing the Transactions#

If you are interested in reviewing the transaction records generated throughout the process, you can visit the corresponding blockchain explorers ("PoS Chain Explorer") or check the activity records in your wallet. Since the transactions involve both the Polygon and Crossbell networks, their corresponding addresses are:

This way, you can see the transaction details of your wallet. There may be several types of transactions, as defined in the ERC20 standard:

  • Transfer

    This usually refers to a transfer, such as when a friend transfers some coins to you or when you withdraw from an exchange.

    This process can be seen as an "internal transfer," where digital assets are transferred within the same blockchain network.

    This process does not require approval (Approve).

  • Withdraw

    Withdraw usually refers to the process of extracting or transferring assets from one address or account to another. It can be understood as a form of "withdrawal," where digital assets (such as tokens, cryptocurrencies, etc.) are transferred from one address or account to an external wallet or another blockchain network.

    Withdraw typically means transferring digital assets from one address or account to an external wallet or another blockchain network. Users initiate the withdrawal process by providing the target address and quantity, and the transaction is confirmed and written to the blockchain.

    When performing a withdrawal, a certain transaction fee is usually required to ensure that the transaction is quickly included in a block and the fee is deducted. Withdrawal actions typically require additional steps such as authorization and approval.

  • Approve

    Approve usually refers to an authorization mechanism defined by the ERC20 standard. This mechanism allows token holders to grant the right to use their tokens to other accounts.

    Specifically, when a token holder wants to transfer their tokens to another address, they need to authorize that address, informing the token contract that the address can use a certain amount of tokens. This process involves calling the approve function defined in the ERC20 standard and passing the authorized address and quantity.

    After the authorization is completed, the authorized address can call the transferFrom function to transfer a specified amount of tokens from the token holder's account without needing further authorization.

    It is important to note that token holders can revoke authorization at any time by calling the approve function and setting the authorized quantity to 0, thereby terminating the authorized address's right to use their tokens.

  • Execute

    This refers to the specific execution process of a smart contract. From my understanding, it means transferring $MIRA from your account to X and then transferring USDC from X's account to your wallet.

Through the actual process, I have gained a deeper understanding of blockchain. I am very grateful for xLog's incentive program. So, let's start creating!

Finally, after joining xLog, why not check out the lovely DIYgod?


Ownership of this post data is guaranteed by blockchain and smart contracts to the creator alone.