Gas prices on Ethereum are pretty absurd. In this article, we will use Uniswap on Arbitrum (not on Ethereum).
Arbitrum is an optimistic rollups L2 network that is aimed to solve Ethereum’s scaling problems. The beauty of Arbitrum (and other rollups-based L2 networks) is…
- transactions are confirmed almost instantly, and
- you will pay $2 or $3 for your transaction, and
- these L2 networks inherit security from Ethereum.
In other words, Arbitum feels exactly like interacting with Ethereum, but with transactions costing a fraction of what they do on L1.
At the time of this writing, Arbitrum sees 80k unique users monthly with 30k transactions a day. The TVL on Arbitrum is $2b and growing.
Click here if you want to learn more about optimistic rollups L2 networks and Uniswap on Arbitrum.
Before you can bridge your UTNP to L2, you will need to wrap your UTNP in WUTN (aka Wrapped Universa). Here are the steps:
- Transfer your UTNP from your wallet to the WUTN address: 0xd4e7A6E7f9aA5909036338a3C4cD57319d613190
- Transfer 0.01 ETH to the mint bot. Minting costs gas, and someone needs to pay for it. Your transaction will wake up the mint bot and compensate the bot for gas. Please pay the mint bot from the same wallet address as where your UTNP came from.
- The mint bot will queue your request. Please be patient.
- Your wallet will be credited with the same amount of WUTN.
if the above QR code does not work for you, you can transfer 0.01 ETH to 0xbbe7fb58301d5abb45419342a7dd5c6cd68e2ff3
Please note that you will need to import the WUTN token to your wallet. Here are the custom token details:
║ Address ║ 0xd4e7A6E7f9aA5909036338a3C4cD57319d613190 ║
║ Symbol ║ WUTN ║
║ Decimals ║ 18 ║
Click here if you are unsure how and where to import the WUTN token to your wallet.
Now that you have WUTN in your wallet, it is time to bridge your WUTN to the Arbitrum L2 network. Here are the steps:
- Navigate to the Arbitrum bridge
- Click on the button labelled Token
- Paste the WUTN token address on Ethereum: 0xd4e7A6E7f9aA5909036338a3C4cD57319d613190
- Press Enter
- Click on Wrapped UTN
- Click on the button labelled max amount
- Click on the button labelled Deposit
Please wait for your transaction to get mined. It will take 10 minutes for you to see your balance credited on L2.
While you are waiting, you can add the Arbitrum L2 network to MetaMask. Here are the steps:
- Click on the MetaMask icon and unlock it with your MetaMask password
- Click on Ethereum in the upper-right corner and then click on Add Network
- Enter the following RPC URL: https://arb1.arbitrum.io/rpc
- Enter the following Chain ID: 42161
- Enter the following Current Symbol (thank god Arbitrum does not introduce a new token): ETH
- Enter the following Block Explorer URL: https://arbiscan.io
- Click on the button labelled Save
Now that you have wrapped and bridged your UTNP to Arbitrum, you can sell it on Uniswap. Here are the steps:
1. Navigate to Uniswap
2. Click on the MetaMask icon and unlock it with your MetaMask password
3. Click on Ethereum in the upper-right corner and then click on Arbitrum
4. Uniswap should automatically switch to the Arbitrum network for you. If it does not, then you can select Arbitrum from this Uniswap dropdown:
5. Click on ETH. A popup window appears. Paste the WUTN address on Arbitrum: 0x3f872d9634089252212cd9c00e107988b89c9142
6. Click on the button labelled Import
7. Click on Select a token. A popup window appears. Click on USDC.
8. Enter the amount of WUTN you will want to sell, or click on (Max).
9. Click on Swap. Last but not least, you will need to confirm the transaction in your wallet.
Congratulations! You have swapped your WUTN for USDC while paying only $2 or $3 for the swap.
Is WUTN secure?
Maybe. No independent audit has been or will be commissioned. You are encouraged to read the code and decide for yourself whether it’s secure.
WUTN is free, unsupported software. But if you got questions, you are welcome to join this Telegram group.
WUTN is provided free of charge. There is no warranty. The authors do not assume any responsibility for bugs, vulnerabilities, or any other technical defects.
WUTN is not affiliated, associated, authorized, endorsed by, or in any way officially connected with universablockchain.com, or any of its subsidiaries.
Use at your own risk.