After trying the defi on arbitrum, we found these problems

Published on 9/1/2021   901 views   0 Comments  

Arbitrum, the famous layer 2 project of Ethereum, opened the user experience entrance last night. After a simple experience of rhythmic blockbeats today, it is found that although the adaptation of infrastructure such as wallet and browser of arbitrum one has been basically mature, the user experience and the support of mainstream applications are still lacking.

This paper briefly summarizes some problems found in the experience of rhythm bolckbeats, hoping to help readers who want to experience less detours.


Arbitrum One


In order to avoid confusion with the team name, the arbitrum project changed the name of its main network to arbitrum one. This time, the user experience portal is the renamed main network. Users who have previously used the arbitrum test network need to reconfigure the metamask wallet. Specific configuration information can be found atΒ ChainlistΒ Search for arbitrum one in for one click configuration.

Arbitrum one has actually been tested online for some time, but the project has been in the internal test stage before. Only a small number of users and developers in the white list can transfer the assets on the Ethereum main network to arbitrum one through the cross chain bridge. The open experience mentioned this time is to cancel the previous white list restriction of cross chain bridge.

Therefore, any user can migrate assets to arbitrum one through the official cross chain bridge to experience the instant confirmation speed and low-cost transaction brought by layer 2.


How to span assets to Β  Arbitrum


Click the cross chain bridge on the official websitelinkAfter that, we saw a page with a strong 1990s style.(the essence of the cross chain bridge mentioned here is to help users' funds migrate across layers. However, because its experience and principle are similar to that of cross chain, it will be uniformly called cross chain bridge later.)

Although the operation interface is relatively simple, the basic functions of a cross chain bridge are similar.

The only thing to be reminded here is that the development level of the official cross chain bridge interface of arbitrum one is really not perfect, so that users can't directly select the currency they need to cross the chain from the drop-down menu. The user needs to click Add token in the red box on the left of the interface, and then paste the contract address of the token in the pop-up input box below.

This link may be difficult for some users, but don't panic. We directly click the token list button at the top left of the interface.

Then, a more rudimentary page will pop up.

Users still don't have to worry here. This page is not program code. It's just a simple and unmodified table for counting the types of assets that can cross the chain to arbitrum one. It can be seen that there are not many assets that can cross the chain to arbitrum one, only 33 tokens.

We choose one of the CRV tokens to demonstrate to the user.

In the screenshot, the contract address of CRV token in arbitrum one is in the upper red box, and the contract address in Ethereum main network is in the lower red box. Users only need to copy and paste the address beginning with 0x below and paste it into the input box on the previous page to select CRV token and carry out subsequent cross chain operations.

Of course, in the process of cross chain from Ethereum main network to arbitrum one, users need to carry out two steps: authorization and transaction confirmation. These two operations still take place in the main network, and the transaction cost borne by users is still the main network. Only after the cross chain operation is completed, the subsequent operations on arbitrum one are calculated based on the gas cost of layer 2.

These specific operation steps are not very different from other cross chain tools. Users only need to authorize and confirm as required. Officials have also released more detailed tutorials: https://arbitrum.io/bridge-tutorial/ , users who encounter problems can click the link for reference.


Arbitrum One It is still in the testing stage


From the above description, we can realize that the current arbitrum one is still a very simple beta version, and there is a huge room for improvement in the user experience.

Although the whitelist restriction of users has been cancelled in this open test, users still need to apply for access to the whitelist on officially supported cross chain assets. This is also the limiting measure taken by the project team to minimize the risk in the test phase.

In addition, there are still many obvious differences between the current arbitrum one and the final official version.

1. Transaction volume limit

According to the official information, the current trading performance of arbitrum one is subject to certain artificial restrictions, and its trading capacity does not reach the theoretical maximum. At present, the transaction performance provided to the user experience is about equivalent to the transaction performance of Ethereum main network, that is, about 15tps.

2. Asset white list

As mentioned above, the current beta version of arbitrum one only supports the cross chain function of 33 main chain assets.

3. Management authority of the team

At present, arbitrum one still adopts a more centralized operation mode. The arbitrum one team has the right to stop the operation of the main network at any time, so as to immediately deal with the possible risks in the test phase and avoid the loss of users' assets.


The ecology of arbitrum is not yet mature


As the star project of Ethereum layer 2, arbitrum one has been supported by a large number of mainstream Ethereum applications. You can view the officially announced cooperation projects through the official linkdetailed list。

It can be seen that this list has included most mainstream Delphi projects in Ethereum. However, users cannot directly click on the project logo to enter the application portal. The official website only provides a picture here( The user experience of arbitrum one is endless.)

Rhythm bolckbeats tested several mainstream defi applications and found that there are only three applications that provide an arbitrum one entry on the official interface of the application: uniswap, sushiswap and balancer. For other projects, such as curve and AAVE, a network error will be prompted after the metamask is switched to the arbitrum one network in the application interface, which is temporarily unavailable.

However, in these three projects that can be experienced at present, there is basically no liquidity, and users are naturally unable to trade.

The following is the information query page of uniswap for arbitrum one. It can be seen that the current trading volume and position locking volume are close to zero. Sushiswap and balancer are similar.

Of course, the main reason for the above situation is that arbitrum one has just opened the experience, and the whole project is still in the public test stage. For security reasons, the official does not want too much money to cross into the main network of arbitrum one, and the natural migration of liquidity will take some time.

After a simple experience, we found that the current arbitrum one has only advanced from the previous closed test stage to the open test stage. The experience and ecology of the whole system are still in the early stage of desolation. During this period, because the upper application has not been fully established and mature, the funds from ordinary users to arbitrum one across the chain do not have a good place to go.

However, the immaturity of ecology does not mean that arbitrum one did not meet previous expectations. After all, the main purpose of the public test is to find more hidden security risks and solve these problems before users really use them on a large scale.

Finally, for many users' concerns about whether arbitrum will issue a pass and airdrop, today, the official team of arbitrum also made a formal response, making it clear that there is no plan to issue a pass.

Of course, the history of the encryption market tells us that there are still variables in anything that has not yet happened. If you still want to migrate a small amount of funds to arbitrum one and simply experience the transaction speed of layer 2, there is no problem on the premise of controlling the risk. Finally, don't forget that arbitrum one, like other optimization rollup schemes, requires a waiting period of about 7 days to retrieve assets to the main network.Β 


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