Fans who follow Brother Chicken all know that his introduction to hair withdrawal is always straightforward.
There are tutorials on how to enter with minimal cost, so there must also be tutorials on how to exit with minimal cost to withdraw back to the exchange.
⚠ [November 2 update, the owl has also resumed, both owlto and orbiter can exit now]
Currently, the third-party bridge Orbiter.finance has liquidity. Exiting through the third-party bridge incurs a small loss; please see the end of the article for third-party bridge exit.
[1. Official bridge exit (loss of 6u not recommended, unless for large amounts)]
Today, some friends asked me why their withdrawals haven't arrived, and others responded that L2 cross-chain returns are really cheap, only 2.5u. Some who have withdrawn said it was exaggerated, claiming they lost 150r just to withdraw. What's going on? Here is a simple introduction to the principles of L2 bridging.
[So how much does it really cost? Is it 2.5u or 150r?]
Today I will introduce a little knowledge about L2 bridging to see how much you actually need to spend.
L2 exit generally calls two functions: Prove and Finalize (or some contracts may call it Withdraw)
When you go through any L2 bridge back to L1, it will involve these two steps:
First, click Prove on the Dapp, spending a few u in Gas; this process takes 1-2 hours.
Then go to the dapp and click on Finalize (withdraw) and spend a few u in Gas again. This process generally takes 3-5 hours.
For example, the image below shows the execution of the first step, Prove:
Then after completing the first step, go to the dapp and click on finalize. The cost for Finalize is about the same as Prove:
You can see in the image above this person did Prove and Finalize at around 5 Gwei, totaling a cost of 6u. If you do it at 1 Gwei, the actual cost is less than 2u, which is why I asked you to wait.
So the conclusion is here: the friends who mentioned they haven't received their funds and those with a cost of 2.5u only completed the Prove step and still need to do the next step, Finalize. The second step also requires GAS, but it's definitely not as exaggerated as 150r.
[Here’s how to withdraw]:
1. First, convert WETH to ETH. There is a bug on the mobile version; if you can't click the Unwrap button, please use a computer:
2. L2's ETH bridging back to L1. Note that there is no turning back; anyone who has done Prove must tough it out and do Finalize, which cannot be canceled. If you want to do it now (for example, at 5 Gwei), you need to prepare enough ETH, about 15u of ETH. Any unspent amount will be refunded to you.
[2. Third-party bridge exit (loss of 1u)]
The third-party bridge orbiter.finance can now exit normally. Click unwrap on WETH to convert it to ETH, and transfer all back to the exchange as ETH on the Arbitrum chain, with an expected loss of about 1u:
The third-party cross-chain bridge Owlto is currently reading infinitely, waiting to resume:
Follow Brother Chicken, don’t get lost, and check out the hair withdrawal.#一图流
