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Migrating to Arbitrum

Treasure on Arbitrum

Originally created on the Ethereum Mainnet ("L1"), Treasure has since migrated to Arbitrum.
​Arbitrum is an Optimistic Rollup scaling solution and Layer 2 ("L2") protocol that allows participants to settle their transactions away from L1, leading to much lower transaction fees.
While many L2s exist, Arbitrum was selected for the following reasons:
  • Significantly lower gas fees: On Arbitrum, transactions fees and gas are a fraction of the costs on L1. This is illustrated on L2Fees.info which contrasts the costs pertaining to transferring or swapping ETH and other tokens.
  • Wide Adoption: At the time of writing, Arbitrum's TVL was nearly US$2B.
  • Partnerships: With multiple DeFi transitioning to Arbitrum, it is critical for TreasureDAO to capture this momentum to establish mutually beneficial partnerships.
  • Security: Arbitrum has the right balance between speed and security.
Note: As multi-chain become more prevalent, it will matter less and less where Treasure's home base is (e.g., LUNA, MIM, and OHM transitioning to cross-chain).

To learn more about L2, check out the following resources:

Steps to Migrate to Arbitrum

This tutorial assumes you have already downloaded a Web3 wallet like MetaMask and that you have Ether or a token in that wallet on the Ethereum Mainnet.
The steps below assume you are using MetaMask as your wallet.

1. Add the Arbitrum Network

On desktop, you can add the Arbitrum Network in two ways:
  1. 1.
    Clicking a single button on Arbitrum Bridge​
    1. 1.
      Ensure you are first logged in to a wallet
    2. 2.
      Once you're logged in, click "Add L2 Network" in the top right corner and click "Switch network" in the popup that appears
    ​
    ​
  2. 2.
    Manually by following these steps:
    1. 1.
      Click on the MetaMask extension
    2. 2.
      Click on “Ethereum Mainnet” network at the top -> click on “Add Network” at the bottom of the menu, and enter the following in the tab that appears:
      Network Name: Arbitrum RPC: https://arb1.arbitrum.io/rpc Chain ID: 42161 Currency Symbol: ETH Block Explorer URL: https://arbiscan.io

2. Bridge Your ETH

Be sure to bridge additional ETH to allow for you to pay for transactions on Arbitrum. Like L1, this still costs ETH. However, it costs significantly less as most transactions are between 0.003 and 0.009.

3. Buy $MAGIC

Once you have Ether or a token on Arbitrum, you're ready to buy $MAGIC, the currency of the Treasure ecosystem.
To learn how, visit: How do I buy $MAGIC?.
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Last modified 1yr ago