gm gm,
I was doing some researches and I found that both Coinbase, Binance, and Kraken, do not support Arbitrum for LPT token. Only Ethereum network is currently supported.
Some friends were asking me how to delegate LPT, and so far my best advice is to buy USDC/USDT on any crypto exchange (CEX) and send over to Arbitrum network.
Then, with the LPT tokens on the Arbitrum network, I suggested them to use any decentralized exchange (DEX) to swap for just a fraction of dollar (e.g., Uniswap, Odos, 1inch, etc.).
Is there any plan to work with major Exchanges to support Arbitrum?
thanks so much
P
I don’t think there are any concrete plans at the moment. From what I understand it’s mostly an issue for exchanges since they have to be able to get their hands on a bunch of L1 and L2 LPT or be able to bridge quickly.
Pasting this reply from Dob from Januari on Discord:
I know others have considered it on their roadmap, but they need to feel there’s sufficient briding liquidity to go back and forth to L1 quickly, and right now there is not. I know that the Tenderize team was considering an liquidity SPE proposal to the treasury to solve this, but so far I haven’t seen much progress on that as I think they’re focsed on their V2 launch.
Yeah, swapping a stablecoin/ETH directly to/from L2 LPT seems like the best way. If it’s a large amount causing too much slippage maybe the official bridge is still the way to go. Hopefully we’ll get a liquidity SPE sometime this year though
Yes correct, but I noticed that for small/medium amount, slippage is pretty good. I will do some simulations in the next days and provide some feedback. I can do also a video so it may help others. Thanks everyone for the feedback.
I have also noticed that approximately from when we moved to Arbitrum there is a steady decrease of Delegators? Any idea why? Because of the complexity of people moving from Ethereum to Arbitrum?
I think the bear market was definitely noticeable in the community and yeah the barrier is a bit high ATM. We could probably use an up-to-date video tutorial to go over nuances like using the bridge vs swapping, how to choose an Orchestrator, etc. I did a poll once in the Livepeer Telegram group and even there most people weren’t staking their tokens.
As Stronk says, it will be due to complexity of moving funds to arbitrum and staking it. One more other factor has contributed to people removing their stake is recent price increase of token!
Yes I saw the same in the Delegator community of The Graph, we had so many holders for years, but we did quite a lot of work about educating people on getting rewards by putting their tokens to work in the network, and also to make sure people are here for the long term.
With some friends we created a Delegator community for The Graph (Graphtronauts) and made lot of content (blog/video) and also providing almost 24x7 support. It worked pretty well. We saw people coming from nowhere, becoming Delegators, and then helping others becoming active participants of the ecosystem.
We are going to work on that with my friends at Graphtronauts … we want to launch a similar community for Livepeer, and help more people get on board in the ecosystem, and overall in web3
For now we have just opened a Telegram and X channel, but we plan to launch soon our YouTube, Blog, and our Web App to help Delegators track their rewards:
