How to Use Uniswap Layer 2 Gas fee reduction with Arbitrum Ethereum

I will show you using Uniswap Layer 2 Gas fee reduction with Arbitrum Ethereum Layer 2 ZK rollout solution. For this we're going to use one of the popular Ethereum layer 2 solution called Arbitrum. Transactions on Arbitrum will be significantly cheaper than Ethereum L1, but it’s important to note that if the network’s capacity is reached, then L2 can congest and fees can rise. Arbitrum limits adding new tokens to bridge to protect users and ensure that it will be easy to recognize which L2 tokens correspond to their L1 counterparts. The Arbitrum One Portal at portal.arbitrum.one is the best place to track the progress of current and upcoming launches on Arbitrum.

List of Layer 2 Eth solutions by TVL Check out L2Beat, an excellent community resource for understanding the status and trade offs of various L2s. Arbitrum is the leader in Total Value Lock (TVL) of 2.1 Billion dollars as of shooting this video.

Arbitrum Withdrawals to L1 Times: Arbitrum, like all Optimistic Rollups, has the characteristic that it takes roughly a week for withdrawals to be confirmed. While this is a UX drawback, it also gives Arbitrum confidence that funds will remain within the system for a week. It gives Arbitrum time to pause and respond to potential security events should they occur.

POTENTIAL RISKS on Arbitrum Layer 2 Ethereum Solutions: Primarily a Smart Contract Risk. There is always a chance that there may be a bug within any smart contract that could result in the loss of user funds.

Secondary one is price risk or impermanence loss we see in Defi exchanges. Once your Ether or tokens are bridged over from L1 → L2 or L2 → L1, the value of your funds may change because of regular market fluctuation.

How to Set up Metamask Browser Extension for Arbitrum Layer 2 Ethereum: Next, I will show you how to Setup Metamask Browser Extension for Arbitrum Layer 2 Ethereum. You need to have Metamask browser extension install for your browser of choice. Metamask support Chrome, Brave, and Firefox. Click on the metamask extension - click on “Ethereum Mainnet” network - click on “Custom RPC” at the end of the menu, and enter the following:

Here are the Arbitrum Metamask settings: Network Name: Arb1 RPC: https://arb1.arbitrum.io/rpc Chain ID: 42161 Currency Symbol: ETH Block Explorer URL: https://arbiscan.io

How to Provide Liquidity to Uniswap with Reduced Gas Ethereum Layer 2 Arbitrum: Finally, I will show you how to provide liquidity to Uniswap with reduced Gas with Ethereum layer 2 solution Arbitrum. Go to Uniswap.org. Connect with metamask wallet you sign up on previous step. By default, Uniswap will connect with Ethereum Main network (or Layer 1 for short). You now want to select Arbitrum as your network for Uniswap. It is now supported. You want to make sure you send Ethereum from mainnet to Arbitrum Ethereum on Layer 2 network. For this, you have to pay gas fees on Ethereum mainnet. It is little price with anything to do with Ethereum mainnet. It is around $24 dollars of shorting this video. Ones all your Ethereum transferred to Arbitrum Layer 2 network via the Arbitrum bridge, you can now provide liquidity to all Uniswap pairs with Ethereum on Arbitrum Ethereum wallet. Your gas fees are 10x lower than Ethereum mainnet.

Ethereum Fees by Mainnet and Layer 2 networks: Go to l2beat.com. You can see Ethereum mainnet fees are x10 more expensive than any Layer 2 networks.

Time stamps: 00:00 Uniswap Layer 2 Gas fee reduction with Arbitrum 00:36 List of Layer 2 Eth solutions by TVL 00:56 Arbitrum Withdrawals to Layer 1 (Ethereum Mainnet) Times 01:20 POTENTIAL RISKS on Arbitrum Layer 2 Ethereum Solutions 01:49 How to Setup Metamask Browser Extenstion for Arbitrum Layer 2 Ethereum 02:43 How to Provide Liquidity to Uniswap with Reduced Gas Ethereum Layer 2 Arbitrum 03:40 Ethereum Fees by Mainnet and Layer 2 networks

Arbitrum Supported Daps https://portal.arbitrum.one/

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