Overview
The Arbitrum protocol's ability to pass messages between L1 and L2 can be leveraged to trustlessly move assets from Ethereum to an Arbitrum chain and back. Any asset / asset type can in principle be bridged, including Ether, ERC20 tokens, ERC-721 tokens, etc.[1]
Token Bridging
Using Layer 2 solutions like Arbitrum will position Mycelium's infrastructure to support innovative market creation efficiently and help power the future of finance. However, as with any nascent technology, there are some additional steps required to interact with Arbitrum before using the Mycelium suite of products.
As Arbitrum (L2) exists as a scalability solution for Ethereum (L1), the Arbitrum architecture naturally exists in part on L1 and in part on L2. Therefore, if a user has assets on the Ethereum (L1) mainchain, they will need to bridge their assets to Arbitrum (L2) in order to interact with the exciting new DeFi protocols such as https://pools.mycelium.xyz/
In this guide we will walk you through the process of bridging your assets from L1 to L2.
Step 1: Add Arbitrum One to your Metamask
You can [read this documentation] (https://pools.docs.mycelium.xyz/tutorials/tutorials/arbitrum-one) and follow along with the video.
Watch - Adding Arbitrum to Metamask
Step 2: Connect to Arbitrum
Head to https://bridge.arbitrum.io/ and connect to your Metamask by signing a transaction. There should be no fee to do so.
Watch - Connect to Arbitrum One
Step 3: Transfer
Select the asset and how much you wish to deposit to L2. Click deposit and the Metamask window will appear. Now sign the transaction.
Note: The bridging can take up to 10 minutes to process.
Step 4: Switch Networks
Now switch networks on your Metamask wallet. Your assets should be visible on the assets tab.
Learn more about Arbitrum
For more information about visit Arbitrum Documentation.
NOTE: This blog post was originally posted by Tracer DAO. The DAO voted to transition to Mycelium in August 2021. As a result, we have updated all of our documentation and content including this post to reflect the change to Mycelium.
