Known as an ERC20 network layer-2 scaling solution, Arbitrum has demonstrated many advantages in reducing transaction fees and increasing processing speed on-chain. That’s also why LuxWorld has chosen Arbitrum to continue our journey. In this article, we’ll guide you on the easiest way to connect to the Arbitrum network and add the LUX token on MetaMask. Let’s get started!
Why LuxWorld choose Arbitrum as a new home?
Since the launch of the LUX token and trading on the CEX exchange, LuxWorld’s development team has received a lot of feedback from users about high gas fees and slow transaction processing speeds, especially during peak times. After researching solutions, we have decided to choose Arbitrum — the Ethereum Layer 2 scaling network to become our new home. From now on, large amounts of gas fees will be significantly reduced to just a few cents. Transaction processing speed has also been resolved while ensuring the security and decentralization of Ethereum’s L1.
How to connect Arbitrum and add LUX token on MetaMask?
MetaMask currently supports many networks Ethereum, BSC… In some updates, MetaMask has also provided Arbitrum network as default. But, if Arbitrum network is not already on your wallet, we will help you to add it manually through a few simple steps:
Video instruction: https://youtube.com/shorts/nk6RaYoCL8Y?feature=share
- Open MetaMask and click the network dropdown menu near the MetaMask fox logo.
2. A pop-up will appear, then click “Add Network.”
3. On the next page, you’ll need to add the following Arbitrum network data:
Network name: Arbitrum One
New RPC URL: https://arb1.arbitrum.io/rpc
Chain ID: 42161
Currency symbol: ETH
Block Explorer URL: https://arbiscan.io/
After adding the above details, click “Save”.
Well, you successfully added the Arbitrum network to your MetaMask wallet. To add the LUX token to Arbitrum, please follow the instructions below:
- Access your MetaMask wallet and click “Import Tokens”
- Add the LUX new contract address on the next page and the rest of the details required. This action should be filled out automatically by MetaMask.
- Decimal: 18
- Token Symbol: LUX
- Link to Arbiscan: https://arbiscan.io/token/0x58b13de0b56c91497b1aaeb344be2a4d7d0478c2
3. Click “Add Custom Token” and then “Import Tokens.”
4. Your wallet will now display the balance of the tokens you just added.
Now, you can see your LUX on MetaMask with Arbitrum network. Although the migration to the new network has adjusted the contract address, the information related to Tokenomic remains unchanged.
How to use the Arbitrum bridge:
The process of bridging assets between Arbitrum and other chains is also convenient, with fewer transactions and lower gas fees than ERC20. To send LUX from Ethereum layer 1 to Arbitrum layer 2, follow these steps:
- Go to https://bridge.arbitrum.io/ and connect your MetaMask wallet.
- Enter the amount of LUX you want to migrate to Arbitrum and click “Deposit”
- You will then need to confirm the transaction on your wallet.
- After verifying the details and the amount, click “Confirm.”
- The transaction will now appear as “pending” at the bottom of the screen on the next page.
- You now have LUX on Arbitrum and can start trading, transferring, and receiving tokens.
Through this article, we have provided complete instructions on connecting and moving LUX from Ethereum’s L1 to Arbitrum’s L2. If you encounter any issues during the conversion process, be sure to get in touch with us immediately via Telegram and Discord for the quickest support. We hope you have an enjoyable experience with this migration.