Arbitrum, one of the most popular Ethereum Layer 2 solutions, is coming to the ELLIPAL hardware wallet ecosystem! This integration will offer users a more cost-effective and efficient way to manage their DeFi assets. Using Optimistic Rollups, Arbitrum batches transactions off-chain and submits the results to the Ethereum mainnet, significantly reducing transaction costs and increasing speed.
Gas Fees on Arbitrum
On the Arbitrum network, all transactions are still paid in ETH. While the payment method is the same as on the Ethereum mainnet, Arbitrum’s gas fees are much lower, typically around 5% of mainnet fees. This means users can interact with dApps, execute smart contracts, and perform transactions at a fraction of the cost.
Why Choose Arbitrum?
- Low Gas Fees: Arbitrum’s transaction costs are significantly lower than those on the Ethereum mainnet, saving users substantial fees.
- High Throughput: Capable of handling thousands of transactions per second, Arbitrum ensures smooth user experience even during peak times.
- EVM Compatibility: Fully compatible with Ethereum smart contracts, making it easy for developers to migrate existing dApps and contracts with minimal changes.
- Security: Arbitrum leverages the security of the Ethereum mainnet and employs fraud-proof mechanisms to ensure the integrity and correctness of off-chain transactions.
ELLIPAL + Arbitrum: A Seamless and Secure DeFi Experience
With ELLIPAL’s upcoming support for the Arbitrum network, users will be able to:
- Securely Store Arbitrum Assets: Protect your Arbitrum assets with ELLIPAL’s air-gapped hardware wallet, ensuring your private keys are never exposed to the internet.
- Efficiently Manage DeFi Assets: Take advantage of Arbitrum’s low fees and high-speed transactions to manage your DeFi assets with ELLIPAL wallet.
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Seamlessly Interact with dApps: Connect to popular Arbitrum dApps like Uniswap and SushiSwap directly from your ELLIPAL cold wallet, enjoying a smoother DeFi experience compared to software wallet.
How to Get Started
- Update Your ELLIPAL Wallet: Make sure your hardware wallet and app are updated to the latest version.
- Transfer ETH to Arbitrum: Use the Arbitrum bridge to transfer ETH to the Arbitrum network for gas fees.
- Explore the Arbitrum DeFi World: Connect your ELLIPAL wallet to Arbitrum dApps and enjoy low fees and fast transactions for your DeFi activities.