RE: Migrating fully to Synthentix L2 OVM (My experience and tips!)
You are viewing a single comment's thread:
Unfortunately I missed your posts on snx testnet.
Thank you for sharing this !
I’ll give a try tomorrow, trx fees are around 5usd or even less ?
Posted Using LeoFinance Beta
0
0
0.000
TRX? No, this is on Ethereum! I'm afraid that there isn't that much on Tron that I find interesting... but BSC does have some interesting things starting up, but the real volume is on Ethereum still.
Sorry I meant transaction fees :D
Posted Using LeoFinance Beta
Ha, sorry! I'm a dufus!
Yeah, perhaps the fees will drop over the next days.. But the median price was around 40-50 gwei whilst I was doing this which isn't too out of the ordinary these days...
Haha no worry.
So I had a look at mintr L2 synthetix but didn't have the chance to use it yet (SNX not in wallet).
And I read that :
If I stake my SNX now, fees are waived ?
Posted Using LeoFinance Beta
Yep, no fees on L2 at the moment. Except that you will need to migrate and that could cost a bit in L1 fees depending on how many of the steps you have already completed.
I never touched the L1, don't ask me why :)
Posted Using LeoFinance Beta
I think you still need to migrate the tokens to OVM.
Alright I was not sure I was lost or not, but now I am for sure ! haha
For a very new user of SNX, without previous staking/minting/burning of whatever.
I go to https://l2.mintr.synthetix.io/ and I can stake and mint there on L2 directly right ?
Posted Using LeoFinance Beta
No, your Snx tokens (I assume you had those already?) are currently on L1 mainnet. They will not appear in L2 as that is a side chain.
You will need to migrate from L1 (https://staking.synthetix.io/L2) which will involve some ETH gas fees (no debt or reward schedule) so it probably is only the migration contract.
That will send your Snx to L2 where you can stake, mint and do whatever on the OVM side chain (L2). One way bridge at the moment and no current use for sUSD that is minted , but they are rolling everything out in stages!
L2 OVM currently only supports Metamask!
Thank yo so much for your patience ! I got it finally :)
I totally overlooked the part of bringing my SNX to the L2 side chain. I thought it was the same chain.
Posted Using LeoFinance Beta
No problem, good luck with the migration and enjoy L2!