🔄 Moving Your GRT from Central Exchanges to Layer 2 for Delegation
A step-by-step guide on how to transfer your GRT from an exchange to your wallet.
The Graph is a cutting-edge protocol that revolutionizes how we interact with blockchain data, making it easier for developers to build the next generation of decentralized applications.
It’s no surprise that The Graph has caught your attention. In a digital era where data is as crucial as currency, The Graph stands out by seamlessly connecting decentralized applications with the blockchain data they need to function effectively. Your decision to learn about the GRT utility token aligns you with a vision of a more open and user-friendly blockchain ecosystem.
Now that you’re a GRT holder, you’re part of this innovative journey. But what’s next? Owning GRT is just the beginning. Let’s explore how you can actively participate in the ecosystem and turn your holdings into a source of potential rewards, in exchange for your work in helping secure The Graph network.
Why Hold When You Can Earn?
Now, let’s talk about the opportunity available for GRT holders. While keeping your tokens on a centralized exchange might seem convenient, it barely scratches the surface of what your digital assets can do for you. Have you considered earning rewards through delegation? Specifically, on Layer 2 solutions like Arbitrum, your GRT isn’t just another token — it’s a key to participating in and contributing to the ecosystem’s growth and security.
Taking Control with a Web3 Wallet
Before diving into the delegation process, there’s an essential first step: moving your GRT out of the exchanges and into a place where you have direct control — a web3 wallet.
This transition marks your true entry into the decentralized finance space, where you’re not just an observer, but an active participant.
There are many wallets to choose from that can work. The most popular wallet is MetaMask. If you need help, check out the tutorial below on how to install MetaMask:
Adding the Arbitrum Network on your MetaMask
After you install your MetaMask wallet, you will be able to add many networks. The one you need to add is Arbitrum because that’s the Layer 2 solution The Graph chose to move to for its settlement layer (where The Graph operates and process its transactions). Below is a quick tutorial video on how to add the Arbitrum network to MetaMask.
If you are already a delegator with The Graph on Ethereum, then it’s suggested to use the transfer tools to get your delegation over to Layer 2. This way you can avoid having to do any undelegation, making for a smooth transition. For more details, please view our blog:
How to Delegate your GRT Tokens on Layer 2
You’ll need two things on Arbitrum L2 to delegate:
- some ETH, as this is used to pay transaction fees (gas)
- your GRT tokens
How to Get ETH on L2
If you already have some ETH on your preferred exchange, you can withdraw it on multiple networks. For the purposes of The Graph, choose to withdraw using the Arbitrum network. Below is an example using Coinbase. Be sure to choose Arbitrum when sending your ETH.
For the recipient (“To” field) you want to ensure you have the correct wallet address entered from your MetaMask: you can hover your mouse (in MetaMask) over the blue oval (which is your wallet address). This will give you the option to copy your wallet address. Then, you can paste it into the “To:” address (in Coinbase). You will only need a few dollars to delegate since an Arbitrum transaction is typically under $0.40 to complete.
Purchase ETH on MetaMask
The other option is to purchase ETH directly through your MetaMask wallet, if you are comfortable doing this. To buy, you must be on the Arbitrum Network and click the “buy” option.
Once you click this, it will bring up another screen that utilizes third-partiy providers for your purchase: you can connect to your Coinbase account if you have one.
Now that you have your ETH on Arbitrum wallet, the next step is getting your GRT over to your MetaMask.
Moving your GRT: Binance Account Holders
It should be noted that at the time of this article, the only Central Exchange (CEX) that supports GRT on Arbitrum is Binance (not Binance.US). This means you can send or receive GRT directly on Arbitrum without bridging.
“When in doubt, send a test amount out. Once you’ve got it down, scale it all around.”, Anonymous
In Binance, you need to add a new address in your Address Management section:
You can type the following info when adding a new Withdrawal Address:
- Address label: helps you identify the new address
- Coin: select GRT or The Graph
- Address: copy/paste your ETH address from MetaMask, as explained before (you can repeat the steps above to copy your address from MetaMask and put it in the Address field on Binance)
- Network: select the Arbitrum network. This is an important step!
Make sure to select the Arbitrum network:
Then, you can initiate the withdraw of your GRT to your MetaMask address:
Please note that in our example, we chose to send 100 GRT, and Binance took a network fee of 6.56 GRT. This means the amount we received was only 93.44 GRT:
All Other Exchanges
Since Binance is the only exchange currently supporting GRT on Arbitrum, if you use other exchanges such as Coinbase, Kraken, etc., then to move your GRT to Arbitrum, you will need to do a two-step process:
- Move your GRT from your exchange to your MetaMask, using the Ethereum network.
- Bridge your GRT from the Ethereum network to the Arbitrum network: the best bridge for this is the Arbitrum Bridge . Do not just google “Arbitrum Bridge” and use what you think is the bridge. Many times scammers prey on people and give fake addresses, so ensure you use the official bridge. We provided this demo below if you need more info on how to use it:
Can’t view GRT on your MetaMask?
Don’t panic just yet. Your tokens are there, but you may need to add a custom token to MetaMask in order to view GRT in your wallet.
Step 1 —Click on Import Tokens
Step 2 — Enter contract address
This is the correct contract address for GRT on Arbitrum:
0x9623063377ad1b27544c965ccd7342f7ea7e88c7
You can check the contract address on Arbiscan, here.
Then, MetaMask will ask you if you’d like to import the newly added token:
After you import the token, you will then be able to view it in your wallet:
At this point you should have your GRT on Arbitrum and have a bit of ETH there to help pay for the transaction fees (gas). Now you are ready to delegate, and you can follow our guide below on how to delegate your GRT.
Do you have any questions?
Graphtronauts is the largest, unofficial community for long-term GRT holders who believe in The Graph’s web3 vision for the future. Our goal is to educate the broader crypto community and help them become contributing members within The Graph ecosystem.
If you have any questions, or concerns, or want to submit feedback, you can reach out to us using our social channels:
- App: graphtronauts.app
- Telegram: t.me/graphtronauts
- Twitter: twitter.com/graphtronauts_c
- YouTube: youtube.com/@graphtronauts
- Blog: blog.graphtronauts.com
- Warpcast: warpcast.com/~/channel/graphtronauts
- Reddit: reddit.com/r/Graphtronauts
- LinkedIn: linkedin.com/company/graphtronauts
Graphtronauts indexer is live on The Graph!
You can read our official launch announcement here.
If you want to delegate to us, you can go directly in Graph Explorer, using the link here.
You can contact us using our dedicated social channels for our Indexer operation:
- Twitter: @graphtronauts_x
- Discord: Join our Server
- Telegram: @GraphtronautsIndexer
- Delegate to us
