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imToken Supports Decoded Trade Activity to Read On-Chain Information Effortlessly

imToken Supports Decoded Trade Activity to Read On-Chain Information Effortlessly

We are pleased to present you imToken’s new feature, Decoded Transaction Activity. What are Decoded Transactions? It refers to decoding on-chain trades and transactions for easier understanding. Design draft  Why Do We Need Decoded Transactions? At imToken, we have been committed to make life easier for blockchain users, which really is not an easy task. The new technology still offers challenges in basic use cases. What - for example - happens when a blockchain transaction goes wrong? When a transaction fails or is stuck users have to start a journey into the world of block explorers and dig deep to understand what happened. That’s why we are making hard efforts to make those basics more understandable for our users. Selected trades and transactions are now shown in their detailed explanation: Moving tokens via cBridge shows the transacted tokens, and a trade on Uniswap shows buys and sells.  We are starting with Arbitrum, because Layer 2 is where most user activity is moving to. This way, users can easily decode what is happening on Layer 2. What Does Decoded Transaction Activity Mean to Project Teams? Decoded Transaction Activity is a valuable feature for both users and project teams. It allows users to enjoy an improved DApp experience by better understanding the businesses of the team. In this case, outstanding teams can gain market presence more rapidly regardless of fierce competition. As a long-term blockchain ecosystem builder, we hope to grow with other builders for blockchain to be applied in a wider manner. More high-quality projects will emerge bringing more DApps into the ever-developing and increasingly complicated ecosystem. Therefore, it is increasingly important to find a better way to present on-chain transaction data to users. Decoded Transaction Activity also serves as a bridge built by imToken between users and project teams. However, this bridge needs to be maintained through concerted efforts from both those teams and us. On top of the foundation for the bridge provided by imToken, information such as the type of contract and transaction should be constantly updated by the teams. The Next Phase of Decoded Transaction Activity Currently, Decoded Transaction Activity is only available for the Arbitrum ecosystem, as we hope to gradually update this feature. In the future, the function will be launched in the Optimism ecosystem first, then in other Layer2 ecosystems and Layer1 public chains, such as Ethereum and Bitcoin. To bring easier understanding to all chains. Looking for Cooperation imToken is looking forward to working with more teams building projects of high quality, to make the wallet app more secure and easy-to-use. Please contact us through [email protected] if you are interested. You are also welcome to forward this article to your favorite project teams that haven’t partnered with imToken. 
2022-08-06
Major Arbitrum release: Everything you need from beginner to degen

Major Arbitrum release: Everything you need from beginner to degen

Decoded transaction history, DeFi Portfolio, EIP-3085, L2 push notifications and much more in the new imToken Today we are excited to introduce a new way of working with Layer 2 (L2) to the world. L2s are clearly the future for cheaper and faster transactions inherited from Ethereum’s security. With Arbitrum being the number one L2, we are proud to finally show you what we have been building over the past months. But before we dive into the details, let us show you the new features that make imToken the best Artbirum wallet to date. Our Arbitrum features, exclusively on imToken 👀 Understand what’s happening: Decoded transaction and trade history 📊 Watch your DeFi Portfolio: Positions on Uniswap, SushiSwap, GMX, Dopex and many more 📲 Get notified of changes in your balance via push notifications, now including Layer 2 More of our favorite Arbitrum features 🌉 Start by bridging over some tokens via Hop, xPollinate, Bungee, LayerSwap or the official Arbitrum Bridge 💹 Watch your balance and L2 token prices thanks to multiple price sources ⛵ Switch to the correct networks within DApps (EIP-3085): GMX, Dopex, SushiSwap, Curve and many more 📸 Scan the QR code to use imToken on desktop DApps via WalletConnect Now, let’s dive into what it’s all about. Arbitrum leading the Layer 2 revolution by 5x Arbitrum is the number one Layer 2 so far. Roughly 150,000 users per month are using popular DApps such as SushiSwap, Curve, Uniswap, dForce. But also new ones such as GMX and Dopex. All together those users amassed over $3.1 billion in TVL since Layer 2’s mainnet launch last September. Optimism, ranks 3rd in TVL learderboard, holds roughly $588 million TVL, only 19% of the tokens locked on Arbitrum. Like other Layer 2’s, Arbitrum aims to reduce cost and increase speed while maintaining the security guarantees of Ethereum layer 1. The Optimistic Rollup achieves this by moving transaction data off-chain. imToken Wallet: A new Arbitrum experience Now let's take a look at our amazing new features👇 Easy: Jump right into Layer 2 No more fiddling with the knobs. Just get right into it. Open your wallet to find an updated network switch on top. Click ‘Arbitrum’ or another L2 to get started. Need tokens on Arbitrum? Use LayerSwap to cheaply withdraw from an exchange. Or bridge some tokens from Ethereum or other chains via Bungee, cBridge, Hop, Connext, Multichain or the official Arbitrum Bridge. Jump right into your favorite DApps to get started. Or start with viewing your trades and balance. But more on that below. You’ll notice how easy it is to switch from Ethereum Mainnet to Arbitrum (and other networks) right within a DApp. Thanks to EIP-3085 and EIP-3326 support, you can simply open GMX, Dopex, Curve (and 20+ other Arbitrum DApps) and get started. Or scan the QR code to use imToken on desktop DApps via WalletConnect! Transparent: Get started with DeFi on Arbitrum Get a quick understanding of all your actions on-chain. The Account Activity takes technical information on Arbitrum, decodes and presents your transaction history in an easy-to-understand fashion. We are scanning the chain for you, so you don’t need to! Convenient: Keep track of your balance imToken lets you watch all token prices - including tokens on L2 - thanks to multiple pricing sources. On top the wallet shows all locked, staked and invested balances via the DeFi Portfolio feature, powered by DeBank. Click ‘DeFi’ to watch positions on Uniswap, SushiSwap, GMX, Dopex and many more protocols. And if your friend sends you tokens? Don’t worry, you won’t miss it thanks to push notifications for transactions on all chains and now also Arbitrum! More updates Besides Arbitrum we also integrate a new Tokenlon feature. The DEX aggregator now lets you choose to pay gas fees with tokens - in case of an empty wallet - or with ETH - for zero minimum trade limits. Have a wallet with only USDT but no ETH? No problem, just use the tokens to pay for your trade. Other than that we introduce a few optimizations and bug fixes as well as support for the new Nervos (CKB) update, Mirana. Layer 2 on imToken We hope you enjoy this update and keep in touch with us on Twitter. We promise: More Layer 2 news for imToken and Tokenlon around the corner! For best security on large amounts of crypto, consider our hardware wallet, imKey. Download imToken: Google Play | Apple App StoreFollow us: Support | token.im
2022-08-01
Layer 2 is the future, and here is why

Layer 2 is the future, and here is why

Ethereum fees are high because people are using it? “Layer 2” seems to be the magic word for solving all these problems. But are Layer 2s actually already here yet? Are they able to keep their promise of lowering fees for everybody? Let’s take a look at Layer 2 today! Why are Ethereum fees high, and what does scalability really mean?  Blockchains are limited. Ethereum for example chooses to be very decentralized while still being secure and scalable.  Decentralized means that everybody can join.  Secure means it’s very expensive for an attacker to double spend.  And scalable means throughput and speed are big enough for many applications and users to use Ethereum The problem is that blockchain developers have to choose two out of three options. For example, you can’t build a blockchain that’s super fast while still running on the laptops of everyday users. And, you can’t build a super fast and secure blockchain that is expected not to go offline once a power outage hits the 10 servers that run it. Ok, Ethereum tries to be decentralized and secure first, and scalable second. But why are fees high? Low scalability just means that users are competing for less space in a given block. Today, 200-300 transactions are included in an average Ethereum block. If you want your transaction to be part of it, you have to pay a fee. Otherwise miners don’t mine. And with more people wanting to be included, the fee you have to pay increases. A “fee market”. Now, the Ethereum community does have a plan on how to increase scalability. The switch to POS with Eth2 is a major part of that, but today we will look at the second part: Layer 2. So let’s dig in! What is Layer 2?  Layer 1 is the Ethereum mainnet. If you used Ethereum before, that’s the blockchain that you used. Layer 2s are a scaling solution. Most current scaling solutions fall into this category. But others you might come across are: Sidechains, state-channels, and actually scaling solutions for layer 1 such as sharding. Layer 2s, however, are a special kind of scaling solution. They are blockchains that derive security from Layer 1. Because today most Layer 2 solutions refer to zk-rollups and optimistic rollups, let’s continue with taking a look at those while ignoring Plasma (which has more information here). Click here to check out Layer2 solutions. How do rollups work anyways? Compared to Layer 1, rollups (i.e. zk-rollups and optimistic rollups) keep a big chunk of information off-chain. Since only a small portion of the information needs to be confirmed on the expensive Layer 1, each Layer 2 transaction is comparatively cheap. The bare minimum of information a rollup publishes is a so-called “state root”. A hash over all recent transactions that proves consistency and their outcome, e.g. “Max received 10 ETH from Alice, and Bob received 5 ETH from Charlie”. Now rollups only need to prove that those transactions are correct, they actually happened. And the two major rollup types have two different approaches. Optimistic rollups give users the option to use “fraud proofs”, to show a smart contract on Layer 1 that the recent transactions batch should be reverted.  Zk-rollups do the opposite. They use a cryptographic proof (e.g. called a ZK-SNARK), which mathematically proves a state root to be correct. At the same time, rollups still support all the kinds of computation that Layer 1 does, too. Which means all of DeFi and so on works on Layer 2. Is it worth using a Layer 2 already? We are somewhere at the beginning of the Layer 2 era. On one hand, you need to use bridges - compare gas - or try exchanges or layerswap.io, to get your tokens from Layer 1 to Layer 2. DApps are still somewhat limited on Layer 2, and there are risks involved: https://l2beat.com/?view=risk  On the other hand, using Layer 2 is already a lot cheaper than using Ethereum mainnet. https://l2fees.info/ $5.83 B TVL shows that people are using it.  We suggest checking out imToken’s DApp listings, or jumping to Arbitrum or Optimism’s DApp lists, with over 70 DApps. Get started using Layer 2 on imToken imToken holds the same vision of enabling everyone to have free and equal access to their digital life through blockchain as Layer 2. That’s why it has been deeply committed to the Layer 2 ecosystem. Since the beginning of 2021, new Layer 2 functions have been available in the wallet with multiple leading DApps using different Layer 2 solutions. You need to first download and install imToken to experience the ecosystem. Here is the download link: https://token.im  How to experience zkSync in the wallet? zkSync is a Layer 2 scaling solution for Ethereum based on zkRollup. It is designed to support efficient payment with low costs in the network where users’ asset security can be protected by zero-knowledge proof and on-chain data availability. To enable your zkSync wallet, open imToken and click “My Profile” at the right bottom corner, and click “Explore”. Click “Deposit” to enter the deposit page, then deposit the assets in your Ethereum mainnet address into the zkSync network. After receiving the deposited assets, you can enjoy efficient and low-cost payment in it. Step-by-step tutorial: How to use the zkSync wallet on imToken? How to Use imToken’s Custom Network Function?  The custom network function of imToken allows you to rapidly switch between different Layer 2 networks, including Arbitrum, Optimism, and Polygon. At the same time, features such as the automated token discovery and the display of prices and assets in DeFi protocols in the Layer 2 network are accessible in the wallet. With these features, Layer 2 users can better manage their assets.   Let’s Take Arbitrum as an Example. Deposit It is recommended that you should first deposit before using the Arbitrum wallet so that transferring and using the DApp will be easier for you. You can deposit in the following two ways: Withdraw your assets from exchanges that support the Arbitrum network, such as Binance and FTX, to your Arbitrum address, which is the same as your Ethereum one. Use bridges to deposit the tokens in your Ethereum wallet into your Arbitrum address. Switch the network Open your ETH wallet then click “Ethereum” at the top. Choose “Arbitrum” in the pop-up to switch to the Arbitrum network. Experience Layer 2 DApps Swipe the function bar to the left, click “DApp” then you can see the most popular DApps in the Arbitrum ecosystem. Step-by-step tutorial: How to use Arbitrum on imToken? Use Layer 2 bridges on imToken Users can get access to leading Layer 2 Bridge DApps in imToken. If you are a frequent user of different Layer 2 networks, you can use those DApps, including cBridge, Multichain, and Hop Protocol by searching them on the “Browser” page. In this way, you can effortlessly move your assets among those networks. Ready to test your knowledge? Click here to go to Learn and Earn
2022-08-10
imToken on Security

imToken on Security

The recent large-scale theft of funds in the Solana ecosystem has drawn widespread attention to wallets and their security. Let us give you some tips, tell you our understanding of the incident and show how we take security best practices seriously. The Solana Slope wallet incident First of all, what happened to Solana? On August 3rd, some Solana users saw their wallets being drained. The community quickly confirmed that all affected users had one thing in common: They all used a wallet called Slope at one point. Later, it was confirmed that the wallet app had sent the user's seed phrase to a central server in the form of readable text. Since the seed phrase was sent in clear text, anyone with access to this particular server may be able to access the user's account. These low security standards can lead to vulnerabilities that allow hackers to access the seed phrase and drain funds. Second, imToken does not offer support for Solana. If you did use Solana, please take the following steps to minimize further risk below. The incident: Some hackers gained access to the seed phrases (also known as Mnemonic phrases or backup phrases) of Slope wallet users If you have used any Slope wallet - even just for generating one address - please open another Solana-enabled wallet, create a new account with new seed phrase (Mnemonic) and transfer assets from the old to the new account   Again, if you use the same seed phrase (Mnemonic) in Slope wallet, then we recommended you to create a wallet and transfer assets Security best practices: A private key never leaves the device At imToken, we used developer tools such as Sentry and Firebase for error reporting and statistics as it is common practice. We do however never collect any data sensitive to asset security. We invite any security auditor and developer to participate in our bug bounty mechanism participate in the bug report program. We always put security and privacy of our users first. If users find any security-related issues, they can send us feedback through [email protected], and the imToken security team will quickly reply and follow up. We have strict audit and risk control measures to ensure security. External risk control: We have long-term cooperations with well-known professional security institutions in the industry such as SlowMist and Peckshield, including security audits for our software wallets, hardware wallets and contracts. Internal risk control Security teamOur security department is responsible for internal security audits and external collaboration such as maintaining close contact with auditors as well as security audit and risk control for all internal products. Permission managementWe adhere to strict permission management in product design and development: Code permissions are minimized, and any product is launched after R&D and security departments jointly conduct black and white box security audit evaluations. Version AuditWe conduct internal security audits for each release. The scope of the audit includes the new version of our own code as well as software dependencies, to eliminate potential backdoors and security risks. Change management (back-end audit)Wallet products can be divided into two parts: The app front-end and back-end services. We not only ensure the security of the app front-end through above-mentioned version audits, but also conduct a complete security assessment before each back-end service goes online. This ensures the overall security of the front-end and back-end products. We welcome white hat audits and responsible disclosure. We invite any developer and auditor to participate in the bug bounty program have been jointly hosting with SlowMist: https://slowmist.io/imtoken/   Bonus: Our top security tips As one of the major wallet apps, we receive lots of user feedback and questions. Our help center should offer an answer for all popular questions. Here is our summary of common risks to be aware of when using wallets: 4 Tips to Keep Your Crypto Assets Safe Use hardware wallets for higher security imToken software wallet is safe and easy to use, but software wallets need users to have a good sense of security. For bigger amounts of assets, our imKey hardware wallet maximizes security by storing Mnemonics away from any internet connection, on a secure chip. If you have any questions about wallet security or usage, please contact our official imToken customer service at: [email protected]
2022-08-11
imToken is ranked 5th as emerging giant in Singapore by KPMG report

imToken is ranked 5th as emerging giant in Singapore by KPMG report

imToken, a self-custodial digital wallet, is ranked 5th as emerging giant in Singapore by KPMG report.
2022-07-29
Trade on zkSync with ZigZag Exchange on imToken

Trade on zkSync with ZigZag Exchange on imToken

Fees below $0.10. Only possible on Layer 2! Today we introduce a recent addition to our DApp browser: ZigZag! ZigZag is a decentralized order-book exchange running on Layer 2. Let’s dive into what this means, and how the exchange works under the hood! Why ZigZag Exchange? And how does it work? Opening ZigZag’s interface you will find an orderbook, substantially different to AMM-based exchanges such as Uniswap. ZigZag’s aim is to create an order-book DEX that re-creates the user experience from centralized exchanges, while remaining inclusive to everyone without requiring user registration, and allowing users to hold their funds in a non-custodial manner. The main difference to centralized exchanges such as Binance is that ZigZag’s transactions occur transparently on-chain routed through the ZK-Rollup zkSync. As the first DApp on zkSync, ZigZag created a first-mover’s advantage position in the Zero-Knowledge ecosystem with further intentions of launching on StarkNet. But why should I use ZigZag Exchange? Quotes from trades are derived from existing centralized exchange price feeds as well, meaning that traders get access to quotes from exchanges such as Binance and FTX, while remaining on-chain. We have tried ZigZag ourselves. One trade costs around $0.10 in on-chain fees. Compared to Ethereum - where a trade on Uniswap currently costs around $5 - ZigZag feels like cheating. https://l2fees.info/ How does ZigZag Exchange work under the hood? The reason that ZigZag is able to offer such cheap trades is the scalability potential of Zero-Knowledge proofs. More specifically, ZigZag makes use of zkSync’s built-in atomic swap function. Here, atomic just means that a trade takes place within one single transaction: One token leaves your wallet while another token enters. Currently ZigZag is working on extending the same functionality to StarkNet, the second big zk-Rollup which will be launched shortly. ZigZag’s contracts are ready for StarkNet to be deployed as soon as the chain goes live. We are very excited to see where the future of decentralized exchanges are heading! How to use ZigZag Exchange on imToken? To get started, download the latest imToken from Google Play, Apple App Store, or directly at token.im. Search for ‘ZigZag’ in the ‘Browser’ and start trading 👇 Download imToken: Google Play | Apple App StoreFollow us: Twitter | Support | token.im Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.    
2022-07-12
imToken Iliad: Join Arbitrum’s Odyssey with double rewards, double fun

imToken Iliad: Join Arbitrum’s Odyssey with double rewards, double fun

Edit: Arbitrum has paused their Odyssey campaign, which is why we also pause the Iliad campaign. Iliad will return when Odyssey continues. Stay up to date on our Twitter. --- Use Arbitrum on imToken and win Arbitrum’s Odyssey NFTs, plus the 12 Zodiacs & more From the wars of the bull market, sinking ships of crypto lenders, we welcome all survivors! Welcome to the imToken Iliad! This one is simple: Join Arbitrum’s Odyssey campaign while using imToken! For double rewards, and double fun.  Here is how to get started! Win double: Odyssey + 12 Zodiacs and more Starting today, the Arbitrum team invites you on a journey to explore Layer 2. For 8 weeks, Arbitrum offers rewards. For 8 weeks imToken offers additional rewards on top. Get started here: https://galaxy.eco/imToken/campaign/GCekdUt1tE  Or read the details below 👇 Win double? Use imToken! Use the imToken app and win double! Rules: Event time and rules are the same as Odyssey Note: Only wallet addresses that use imToken are eligible for Iliad NFTs Note: We do not count the usage of fiat on-ramps, and only count the receiving addresses in bridge transactions For questions, please join the imToken Discord community Get started here: https://galaxy.eco/imToken/campaign/GCekdUt1tE  Which NFTs? Take a look👇 9 out of 12 handcrafted Zodiacs Week 1 Use any of the 19 selected Arbitrum projects, to earn rewards. 1 Odyssey NFT, and 1 bonus Odyssey NFT for users of the top DApp (by ETH volume). 👉Use imToken and add: Our Moon and our Earth NFT. Like Bull and Bear, Yin and Yang. Week 2 to 8 Use up to 2 Arbitrum DApps per week, to win each of the 14 Odyssey NFT. And if you collect at least 13 of the 16 NFTs Arbitrum adds an exclusive Ratwell & Sugoi-designed NFT. 👉Use imToken and add: The 12 Zodiac NFTs, plus our Astronaut and our Spaceship NFT. Into the Arbi-verse! 🌌 👉And, 1 special NFT done by our secret, popular NFT artist. Campaign rules overview Complete the tasks through imToken to receive Iliad NFT rewards. Date (Singapore time) DApp Task Iliad NFT reward Odyssey NFT reward Week 1  From now until June 29th 00:59 AM Bridge week Use any of the 19 bridge applications officially provided by Arbitrum to bridge ETH onto Arbitrum Click to view the video tutorial: Hop; cBridge Earth NFT Officially announced by Arbitrum, and you can follow Arbitrum's official Twitter Condition: A bridge you use has the highest ETH volume at the end of the first week of activities Moon NFT 👉 Week 2 June 29th 01:00 AM - July 5th 00:59 AM Yield Protocol Complete one of the following tasks: 1. borrow >$100 worth of assets2. lend > $50 worth of assets3. provide liquidity with >$50 worth of assets Click to view the video tutorial Cancer NFT GMX Complete all of the following three tasks:1. Complete a leveraged transaction2. Complete an exchange3. Mint GLP Click to view the video tutorial Leo NFT Week 3 July 5th - July 12th Aboard Exchange to be announced Virgo NFT TofuNFT to be announced Libra NFT Week 4 July 12th - July 19th Uniswap to be announced Scorpio NFT Apex to be announced Sagittarius NFT Week 5  July 19th - July 26th 1inch to be announced Capricorn NFT Izumi/Yin Finance  To be announced Aquarius NFT Week 6 July 26th - August 2nd DODO to be announced Pisces NFT Swapr to be announced Aries NFT Week 7 August 2nd - August 9th TreasureDAO to be announced Taurus NFT Battlefly to be announced Gemini NFT Week 8 August 9th - August 16th Ideamarket to be announced Astronaut NFT Sushi to be announced Spaceship NFT Designer Limited Edition NFT Collect 12 or more of the 16 Iliad NFTs of week 1-8 Designer exclusive NFT / Collect 13 or more of the 16 Odyssey NFTs of week 1-8 / Design by Ratwell & Sugoi Exclusive NFT   imToken, the best Layer 2 experience Besides NFT rewards, we bring a couple of unique features you won’t find on any other wallet. Exclusively on imToken: 👀 Understand what’s happening: Decoded trade & account activity 📊 Watch your DeFi Portfolio: Positions on Uniswap, SushiSwap, GMX, Dopex and many more 📲 Get notified of changes in your balance via push notifications Important for a reliable L2 experience: 📸 Bridges, 40+ Arbitrum DApps & WalletConnect 💹 Multiple price sources Learn more about our Arbitrum wallet features: https://medium.com/imtoken/major-arbitrum-release-everything-you-need-from-beginner-to-degen-e45c8380db45  Download imToken: Google Play | Apple App StoreFollow us: Twitter | Support | token.im Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.
2022-08-11
5 Ways To Ride The Bear Market On Layer 2

5 Ways To Ride The Bear Market On Layer 2

Bear With Price Action When the going gets tough, the tough get economical. So the winter or the autumn or the bear market, call it whatever you want, is here. It has happened at least twice before, the first time between 2013 and 2017 and the second time between 2017 and 2021. It may look like we’re in another one. What happens now? Well, projects that have no use-cases and are primarily just shilled as pump and dump schemes will go away, and the ones that offer real functionality and value will still be standing and getting stronger. From the top 25 in the 2017/18 season, only Bitcoin and Ethereum are still up. People complain about the congestion and high fees on Ethereum, and that’s why Layer 2’s were built. Arbitrum is the biggest, most dependable, most frequently used ETH Layer 2 network. And imToken provides you the best wallet for Arbitrum. Layer 2 To The Rescue Arbitrum is a great way to shrink your costs when your profits shrink. Arbitrum was launched by Offchain Labs in 2021 with a $1.2B valuation funding with notable investors such as Coinbase Ventures, Pantera, Compound and Blocknation. Arbitrum is an Ethereum Layer 2 network that decreases costs and increases speed and privacy. The main USP of Arbitrum is the use of Optimistic Rollups. EVM smart contracts can also run on the AVM (Arbitrum Virtual Machine). The current TVL of Arbitrum is over $1.6B with SushiSwap and GMX leading the dominance factors. TVL is holding strong despite the turbulence of February Clearly, Arbitrum is a dependable network, you can see that others are using it continually. Add to that the fact that Offchain Labs co-founders Ed Felten, Steven Goldfeder and Harry Kalodner, are geniuses. Ed is a professor, Steven received his Ph.D, and Harry is a Ph.D. candidate at Princeton University. Now that’s a ‘project’ ‘team’ you can get behind. Basically, Arbitrum: is EVM-compatible. has great dev tools. costs only a fraction of the fees. shills no token of its own, and purely does infrastructure work. has a thriving ecosystem with Uniswap, DODO, Sushi and many others. Spend Less, Get More, HODL Better! Here are 5 ways you can make the best of the bear market: Better Bridges for better prices: Bungee is a Bridge aggregator that promises the best prices and a Bridge DApp like Hop Protocol also brings established infrastructure. Earning using DeFi on Layer 2: AMMs (Automated Market Makers) like SushiSwap which already have over $320M TVL on Arbitrum provide you a great way to engage in DeFi at the lowest possible costs. A Bridge like Hop Protocol lets you hop across tokens on multiple networks for a small bridge fee. Go wherever the earning’s highest without worrying about transportation costs! Earn good interest using Aave, dForce or other money market protocols that exist on Arbitrum. Discover the next big NFT: You could be an early adopter of the next big NFT. Spot the current ones on https://arbiscan.io/tokens-nft. imToken has the benefit of both the Arbitrum as well as Optimism L2 Networks in the same wallet. There are many projects on Arbitrum (1) (2) as well as Optimism (1) (2). Less Transaction Fees = More Trading: You will get a lower transaction fee on Arbitrum than you would on say Uniswap on Ethereum. GMX is Arbitrums second biggest DeFi DApp with a TVL of $209 million. ZigZag is its popular counterpart on zkSync. And Perpetual Protocol offers similar features, built on top of Optimism Layer 2. All three offer fully fledged trading interfaces similar to what you might know from dYdX. GMX also lets you stake to earn rewards. Hunt for Airdrops: When it is tough to buy more of the ones you want, it doesn’t cost anything to get some of the new ones for free. Who knows, maybe one of the airdropped tokens goes big in the future. We wouldn’t have been so kicked about an Ethereum airdrop in 2017 as we would be now, right? Airdrops and other promotions are usually more frequent during bull runs, but if someone is promoting a project during bear season, well, you gotta trust their persistence and belief then. They’re free anyway, so it doesn’t hurt to try - check here for airdrops. A lot of famous investors in the past have proclaimed that the time to buy is when there is blood on the street. In the carnage of the current events, you can either retreat or dig in further, with better tools and cost-advantages and prepare for the next bull run. Will you be the player who sells his tokens in a downturn for want of money, or the player who buys it from others who sell? A token saved is a token earned! Save on your gas fees today and get started with Layer 2 on Arbitrum. CMC has a good article on how to save using Layer 2. With the imToken wallet and Arbitrum by your side, you will be assured the best interface for trading to a higher level. The UI and UX on imToken is designed to be much better and less confusing than other popular Cryptocurrency wallets. With imToken, you get the entire DeFi and Web3 ecosystem in your hands along with the lightning fast and cheap Arbitrum network’s capabilities. Some cool, imToken-exclusive Arbitrum Features: 👀 Understand what’s happening: Decoded transaction and trade history 📊 Watch your DeFi Portfolio: Positions on Uniswap, SushiSwap, GMX, Dopex and many more 📲 Get notified of changes in your balance via push notifications, now including Layer 2 Get the imToken wallet now from the official site - https://token.im/ or from your Android Play Store or Apple App Store. Get the convenience of a multiple chain wallet, a DApps browser, Layer 2s, EVM-compatible chains, staking & stablecoins, and imKey a great hardware wallet, all under the same app by imToken, a brand you can trust.Think your knowledge of DeFi, imToken and Layer 2 is good? Then test it on our quizzes like this one and earn free tokens! Download imToken: Google Play | Apple App Store Follow us: Twitter | Support | token.im Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.
2022-06-20
Celer’s cBridge now on imToken: A Clever Mechanism For Better Bridging

Celer’s cBridge now on imToken: A Clever Mechanism For Better Bridging

The latest addition in our collection of Layer 2 bridges uses a State Guarding Network to guarantee safe bridging. Here is how it works! Today we are happy to introduce a special cross-chain bridge added to imToken: cBridge. Built on top of the Celer Inter-chain Messaging Framework, the bridge offers fast, low-cost and secure transfers between various EVM and non-EVM chains and layer 2s; so far more than 30 chains are supported including Ethereum, BNB Chain, Arbitrum, Optimism, Boba, Polygon, and Flow. Now let’s dig into it! About Celer Network Founded in 2018, Celer Network launched the world’s first Generalized State Channel Network on mainnet in 2019. Later, Celer transformed its State Guardian Network (used in the Generalized State Channel Network) into a generalized inter-blockchain and cross-layer communication platform, creating the Celer Inter-chain Messaging Framework (Celer IM), cBridge, and layer2.finance. Why cBridge? And how does it work? One reason we like Celer is because we are amazed by its speed of growth. They are at $8.2 bn total cross-chain transaction volume and close to $500 million TVL as of the time of writing. Check out their analytics here. The growth of cBridge is built on top of its flexible bridging models that meet user needs in different cross-chain scenarios. Two major cBridge models are a liquidity-pool-based cross-chain bridge, and a lock-and-mint canonical bridge.  With a tremendously growing TVL, the liquidity-pool based bridge will enjoy better liquidity depth, leading to lower slippage in cross-chain transfer. While on the other hand, the lock-and-mint bridge can reach 100% liquidity utilization without preminted liquidity, and is widely adopted by projects going on new chains. While from the users’ perspective it’s all one-click cross-chain experience, the flexibility in the underlying bridging designs means support can be easily added for different tokens, and we are now seeing over 120 tokens listed on cBridge. Our opinion: cBridge is a smart way to bridge tokens. The messaging protocol means that you need to only click one button, no second claim process as with some other bridges. Also wETH and other wrapped tokens are unwrapped in one go. But moreso, the underlying Celer Network offers a very general approach to bridging arbitrary messages. There are several DeFi and NFT protocols built on top of the Celer Inter-chain Messaging Framework including ChainHop, Rubic, Swing, SynFutures, Ooki, etc. And we are curious to see more coming! How to use cBridge on imToken To get started, download the latest imToken from Google Play, Apple App Store, or directly at token.im. Enter your wallet, and switch to your favorite in the top menu: ‘Ethereum Mainnet’, ‘Arbitrum’, ‘Polygon’, ‘Avalanche’, ‘Gnosis Chain’ and many others. Search for ‘cBridge’ in the ‘Browser’ and start bridging.Find a more detailed step-by-step tutorial on how to use cBridge here. Stay tuned for more Layer 2 news from us!   Download imToken: Google Play | Apple App StoreFollow us: Twitter | Support | token.im Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.
2022-06-21

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