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Recommendation On A Layer 2...Specifically For Defi. (alien.top)

submitted 2 years ago by Reaper7One@alien.top to c/ethereum@blockchained.world

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Hello All,

Have been using defi (Oasis, Defi Saver, Avve, Uniswap, etc) on the ethereum mainnet for as long as I can remember.

Getting tired of the high gas prices. Thinking of using metamask to bridge to optimism which is integrated which is integrated with most of the Dapps I am using.

This is my first time using Layer2s. Was always concerned with centralization and safety but transaction costs on the mainnet are brutal and will probably only get worse if we see a new bull run.

How secure/safe is optimism? What is the best/safest ways to bridge assets back and forth. Is there a better way to accomplish what I am trying to do?

Thanks in advance for the help!

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[–] PhiMarHal@alien.top 1 points 2 years ago

L2beat.com has an overview of rollups and involved risks.

Arbitrum ranks pretty high on safety and also has the most TVL, so it's a good place for DeFi.

Optimism is considered the other one of the big 2 optimistic rollups, and even though it's not as technically secure, they've been running fine for a couple years now.

The safest way to bridge back and forth to Arbitrum or Optimism is to use their official bridges. Note there is a 7 day waiting period on bridging back to Ethereum mainnet. The Optimism bridge back may also require 2 steps.

If you use thirdparty bridges, the fees are likely to be higher and they're less secure. So I would never use a thirdparty bridge from Ethereum to Arb/Op, but I occasionally use a thirdparty bridge back to Ethereum in order to avoid the week-long wait.