why havent degens migrated to arbitrum yet given much lower txn cost? does the 7-day bridge back matter that much, or is it something else?
Same reason no one used the plasma bridge on matic
I dont know why devs underestimate "Comfort". L2s will have hard time going mainstream. Imagine if pro crypto OGs are not using L2s as much so how are you expecting the new masses to get into it exactly? They can barely get into L1s. The winner on long term will be an L1.
i bridge more and more everyday .. wonderful experience so far and will only improve as network effects take hold
I bridged some ETH, the only thing to do was flip some ArbiDoge money for a few ETH profit. Nothing happening at all, now bridging back and waiting 8 days...
It`s confusing and not straight forward. The concept makes sense to an engineer but what about a user?
for general population yes , people need easy intuitive on and off ramps . I`m guessing this is all about adoption and not for eth billionaires minting nfts
there`s more of an ecosystem and more things to do on Polygon. And funds can go straight from CEX to Matic mainnet without need for bridge.
- Throttled capacity on Arbitrum/Optimism so fees aren`t as cheap as they could be - Barely any incentives/liq mining yet - A lot of apps still not live - No major CEX bridges Though in spite of this Arbitrum almost has $100mil TVL and Optimism has $143mil.
it`s too expensive to bridge
It`s not like a furnished house that`s ready to move into and that`s it. There needs to be useful apps there to use first, otherwise what are you gonna do there? I`m eagerly waiting for on One theory -> You can bridge off arbi in 5 minutes using Swap to USDC on > bridge using c bridge to bsc/matic > bsc/matic bridge to eth Think people aren`t actually aware of this and are scared of the wait.
I am building an NFT metaverse on Arbitrum. Arbitrum scales super effectively and once the bridge gets easy to use. We should see some adoption there. Blue chips are already moving there Coming soon
someone mentioned it, but I`m recovering from temporary deafness from all the Sol-ja boys glouting so loudly
7 days is for optimism, 1 day for arbitrum
Because hasn`t deployed nova yet ser
High fees to bridge + little to do + limited incentives + questions around bridging out + experimental tech + sense that this is a short term fix and zk will ultimately win. If incentives go up may overwhelm other issues and make it worthwhile to use short term solution.
Im chilling in Arb Sushi, nice yields but not much else to do yet last i checked, except gambling on Dog tokens.
No degen tokens on L2
Just takes time to move shop. It`s not like the common guy who can bridge some eth over and trade.
Took too long. Was expecting in March. Market changed, and 6 months gave side chains some breathing room. looks great now. Waiting for liquidity. Could be big for LPs. Trading vols should 10x due to fees, you do the math. All of defi is there. Txn cost is high compared to Polygon and no subsidized rewards. But and might still be worth a look. ;-)
Move into what, no products.
Too lazy, just stay on L1
The UX should be such that everything is transparent for the end-user, without a need to move funds around, switch networks, and the like. You know how your phone selects the best WiFi by itself? That`s where it needs to go.
I don`t think its the 7 day lag, its just the lack of great yields, especially in comparison to the competing L1s A blue chip thats heavily ETH-aligned like $UNI needs to do liquidity mining.
its polygon for me until uniswap is available on a L2. Once you bridge to one L2 its too expensive and makes no sense to waste money on another bridge unless it has supreme functionality and access to TRUSTED Dapps
made a good article about it. I bridged but theres actually nothing to do, no liquidity on exchanges and no money markets are live. Theres perps but im not interested in them really. Needs to be a big push from L1 blue chips to deploy asap, so much activity is completely sidelined from L1
7 day bridge is a non starter. They have no chance to be competitive until they change that. The other part is I don`t see a lot of opportunity right now. Just a lot of junk like arbidoge.
they gotta do something about the 7 day bridge
Yes, the degens need to have their 4 figures to be liquid
Lack of token incentive
7 day wait is one thing keeping me from bridging yes, but also reports that fees are still much higher than other alternatives. If Im gonna bridge to degen on L2 I want to go somewhere that can really attract normie retail so they can pump my bags...
No incentives that`s all whales really care about
Migrated on day one. NFTs are not for me.
right now we don`t support $ETH only $USDC, $USDT and $MATIC (for fast exits from Polygon to ETH which used to be 7 days) next week we`ll support and the week after $ETH then more assets and networks the more liquidity, the cheaper it is to transfer assets Lol guess they need to launch a token
can you give more info?
7 day bridge is most likely a big turn off. caus if we assume these kind of flows are opportunistic/plebeian in nature then access to liquidity is high priority. if there are similar (or better) incentives elsewhere with less latency what reason is there to use arbitrum?
So I haven`t reached anywhere near the limit, it is effectively an amm of assets that gets balanced out, Arbitrum support is coming soon. I`ve used it for optimism and polygon up until now. I guess the limit depends on how much there is in the pool.contract balance can be checked
Didn`t seem like there`s much to do last week, but that is changing every day
We need to degerate faster than 7days
The 7 day bridge feels like third world banking
Is there any advantage for migrating to Arbitrum vs Avalanche?
People using Fantom. Faster and cheaper.
Yes that makes sense but users can only go to a chain if someone has launched something there first. Explains why some chains are more sticky and do better after incentive programs since there needs to be something there for users to ape into + quality of infra makes this easier
No liquidity for trading or lending
huh? where`s the yield?
I agree with this in part. It seems like those incentives don`t tend to bring a lot of sticky use though. Seems more mercenary. I could be wrong about that.
Can you use on it yet?
The distinction only matters for developer biz dev , though I think sidechain is a poorly defined term no1 should use. Devs care about security trade offs and ultimately their apps are what drives users to certain chains.
Ohm pays out so well over long time frames that it`s generally not worth moving or modifying the stack. Without hacks, 100x in 1 year, significantly more in 2-4 years. Any yield with arbitrum experimentation unlikely to outperform and increases bridge risk...
Cant trust that 90s looking interface!
Agreed. Most users aren`t worried about security, centralization, etc. But they do care about what apps there are to use. I think security, centralization, credible neutrality will be a bigger deal for institutions deciding which chains to integrate. Fintech/Banks, etc.
Waiting for Curve to launch on it.
What can we even do an arbitrum to warrant bringing everything over?
The seven day purgatory bridge back is unpleasant. Especially after bridging with AVAX.
Yields will go down on balancer/sushi, waiting for aave&curve on avax, no lend/borrow platform on optimism/arbitrum
I think the degens are still on Polygon or playing with Solana, Phantom, and Avalanche. More to do there and cheaper transactions. Arbitrum & Optimism are still a little expensive for the masses. The bridge isn`t too inviting either. not much to do there
Whats there to degen on arbitrum? 40% APR LPs?
If I take myself as a exemple I just dont use ETH anymore... Even moving 6 figures seem ev-, esp bc of low yields I think people have lost the hunger for it, and don`t expect any good yield on Arbitrum
there is no need to degen there when you can degen on solana/avax etc
It`s the bridge time, the vacant wasteland over there, and the explosion happening with Solana.
Eth will be a mess if they are gonna assume people are autistic enough to manage 50 layer 2s and all that liquidity spread across. Guess we have to wait for a big mover like UNI to make the official decision for what should be the official L2 chain on ETH.
I`ll migrate every position I`m in the second they`re supported. I think every single LP/yield farmer would migrate today if the farms moved the rewards up to arbitrum (ALCX, DPX, etc). My guess is this happens over the next few months.
FTM, avax and polygon bridges are faster. Low network fee. Degens don`t care about primary chain security and properties
been farming some $honey there
Instant confirmation is sooooo nice. Actual step change vs MATIC/BSC/FTM/AVAX which all felt pretty interchangeable. SOL, when it works, is also fairly fast.
Its not that much lower cost wise
Maybe lack of kinda serious projects launching? All theres been was shitty arbimoom arbidoge ruggy tokens, with very low liquidity
ser have you seen the bridge UI
Degens i know DGAF about eth very much now. (coins at least, nft degens galore) So easy to trade coins on Sol, Avax, FTM etc
ppl hate restrictions and learning new things.
yeah i think the 7 day thing matters a lot. gotta remember 7 days in crypto world is dif than real world....
I dont think anyone knows how to use it source - me
influencers haven`t been tweeting about it as much
The 7 day period don`t matter much if u use Nothing to do there yet. Almost no liquidity.
