Layer 2 Bridge Tutorial (Arbitrum)
Abstract
As DeFi adoption continues to grow rapidly, Ethereum network are facing with lots of challenging. Whereby, the scalability to Ethereum has become more necessary than ever. Luckily, Layer 2 solutions like Arbitrum have a great potential to scale the network while being compatible with Ethereum. Layer 2 show the capability of reducing gas costs and network congestion, and Dank Protocol has decided to launch support on Arbitrum.
Reminder: In order to interact with Dank on Arbitrum network, you are required to transfer your Ethereum or ERC-20 tokens to Arbitrum network through Token Bridge Tools.
This tutorial is a guide for beginners to understand how to use Arbitrum network on Dank, how to use Arbitrum bridge and how to use some other layer 2 tools as well. This tutorial is separated into Three sections: Dank on Arbitrum, Arbitrum Token Bridge, Other Layer 2 Tools.
A Web3-compatible Ethereum wallet is the major tool for interaction where you also need to have Ethereum or ERC-20 tokens in the wallet on the Ethereum mainnet. If you don’t have one, please visit our tutorial: MetaMask Installation
DANK ON ARBITRUM
This section is a guide about how to connect abritrum network on Dank Protocol.
1. Wallet Connection
1.1 Dank Protocol Application
Launch https://app.dank-protocol.com/
If you haven’t connect to a wallet, you will be asked to connect one.
1.2 Connect to your Wallet
If the pop-up didn’t show up, you can connect manually by clicking the “Connect Wallet” on top right corner of the screen and choose your preferred wallet.
1.3 Approval
Choose the account you want to connect with and click on “Next” button. Then, click “Connect” button to connect your account with https://app.dank-protocol.com
1.4 The Dashboard
After connecting your wallet, your Ethereum address will appear in top right corner of the screen and make sure the account address is match.
2. Switch to Arbitrum Network
2.1 Switching
Dank provides an One-click Deployment function for user-firendly purpose.
When user’s wallet is under a network that Dank is not supported, a reminder will appear on top of the screen. You can simply click on “SWITCH NETWORK”.
2.2 Approval
A pop-up will appear with asking permission of switching the site to Arbitrum. Approved by pressing on “Switch network”.
Caution: Switching networks will cancel all pending confirmations
After completing the above processes, you should be able to interact with Dank through Arbitrum One Network.
ARBITRUM TOKEN BRIDGE
This section is guide about how to transfer your assets onto Arbitrum One from Ethereum mainnet.
1. Bridge your ETH/ERC-20 tokens (L1 → L2)
1.1 Connection
Launch https://bridge.arbitrum.io/
Login to the bridge with your wallet and make sure you are connected to the Ethereum mainnet network. (Here we use MetaMask wallet as example)
Choose the account you want to connect with; then, click on “Next” and “Connect” button.
1.2 Deposit from Layer 1 to Layer 2
Select the token you want to bridge in the token drop-down menu.
Enter the amount of ETH/tokens you want to bridge from L1 to L2 and then press “deposit”; confirm the the transaction and wait for the pending.
Make sure your wallet is set to the Arbitrum One Network so you can see when they arrive.
1.3 Withdraw from Layer 2 to Layer 1
Caution: There is a withdrawal period. Once you send your assets through the bridge, you will have to wait at least 7 days until you receive them on mainnet.
Make sure you are connected to the Arbitrum One Network.
Click the downward arrow in the middle of page, then select the token you want to bridge in the token drop-down menu.
Enter the amount of ETH/tokens you want to bridge from L2 to L1 and then press “withdraw”; confirm the the transaction and wait for the pending.
Make sure your wallet is set to the layer 1 network that you process for withdraw, so you can see when they arrive.
Additionally, the following link is a visual guide for a better understanding of using Arbitrum on Dank: 👉 https://www.youtube.com/watch?v=kW9cWWOSbjI
OTHER LAYER 2 TOOLS
1. Hop Protocol
Hop Protocol is a scalable rollup-to-rollup general token bridge. It allows users to send tokens from one rollup to another almost immediately without having to wait for the rollup’s challenge period.
1.1 Connection
Luanch https://app.hop.exchange/
Click the“Connect Wallet” on top right corner of the screen and choose your preferred wallet.
1.2 Transfer
Before you start any transaction, you are required to approve the asset and confirm it through your wallet.
Choose the asset that you want to send and the corresponding networks; currently, Hop only supports three types of token, USDC, USDT, and MATIC.
Press “Send” and confirm the transaction.
After pending, you need to set your wallet network to the withdrawal network and check the arrival.
2. Celer cBridge
Celer cBridge is a multi-chain network powered by Celer Network that enables instant, low-cost and ANY-to-ANY value transfers within and across different layer-1 blockchains, and different layer-2 scaling solutions on top.
cBridge is supporting several chain which is including Ethereum Mainnet, Binance Smart Chain, Polygon, Arbitrum, xDai, Fantom, Avalanche, Optimism, OKExChain, and Heco.
For a full tutorial of Celer cBridge, please visit: https://cbridge-docs.celer.network/#/tutorial-en
About Dank
Dank is a permissionless open-source lending protocol based on Ethereum, which aims to solve the problem of inefficiency of funds in the DeFi market and build a fixed income market. It allows any user who uses the protocol to obtain variable interest rates. It is the first to propose a forward interest rate contract swap model based on the variable interest rate market. Users can also release the forward income of d-token at any time to obtain instant fixed income.
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About Arbitrum
Arbitrum is a suite of Ethereum scaling solutions developed by Offchain Labs that enables high-throughput, low cost smart contracts while remaining trustlessly secure. An “Optimistic Rollup”, Arbitrum instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with most existing Ethereum developer tooling. Arbitrum has just launched its mainnet beta, Arbitrum One, on Ethereum mainnet.
