New Layer 2 Available — Krystal Integrates Scaling Solution Arbitrum
Krystal is pleased to announce that we have integrated the Arbitrum network with our platform.
With this addition, we now have 7 networks for you to store, track and swap your assets!
What is Arbitrum?
Arbitrum is a Layer 2 scaling solution for Ethereum smart contracts, which aims to provide a faster and more scalable solution for the Ethereum network. The network is able to process up to 40,000 transactions per second (tps), which is much higher than Ethereum (around 10–15 tps).
As a result, Arbitrum should allow for cheaper transactions as compared to Ethereum.
Another Layer 2 solution for Ethereum you may be familiar with is the Polygon network.
How can I use Arbitrum on Krystal?
Here are the features that are currently supported by Krystal on the Arbitrum network:
- Sending and receiving assets
- Viewing your portfolio (cryptocurrencies and NFTs)
- Swapping assets on the Arbitrum network
Krystal will aggregate popular decentralised exchanges (DEXes) on the Arbitrum network, allowing you to compare the rates among these platforms.
The first DEX to have been integrated with Krystal is SushiSwap, and stay tuned as we add more DEXes in the future!
SmartSwap will support trade routing on the Arbitrum network soon, so that you can obtain the best token swap rates automatically!
You can find out more about SmartSwap on our dedicated support page here.
How do I send assets via the Arbitrum network?
As Arbitrum is an Ethereum Virtual Machine (EVM)-compatible network, the deposit address will be the same as the address that you use for other networks (starting with ‘0x’).
Do ensure that you are selecting the Arbitrum network to withdraw your assets from your external wallet when transferring to Krystal.
You can find out more about depositing assets to your Krystal Wallet here.
How do I add the Arbitrum network to my wallet connected with Krystal?
If you are using the Krystal mobile app, the Arbitrum network will already be added.
However, if you are using our desktop platform and are connecting with an external wallet (e.g. Metamask), you will need to add this network manually, and you can check out this guide here for more details.
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