Rabby VS l2beat

L2s do not fundamentally add any significant UX complexity.

There are some wallets that make this a pain (Metamask) but newer wallets like Rabby (https://rabby.io) and Rainbow are huge improvements.

As an alternative, you can also use Rabby wallet, made by DeBank: https://rabby.io/

You need to download rabby.io. There is a medium article on this sub somewhere. Not tried it myself yet but it seems simple enough.

i see, but i have already plu in metamask, is still working use rabby.io ?

If on CV - https://rabby.io (debank crypto wallet) has a revoker feature. Import your MM wallet into it and then go to settings and approvals to revoke.

This guide will explain how to use an alternative app to Metamask (Rabby) to withdraw your PLU straight to an exchange. It was written in June 2023 whilst the PlutusSwaps DEX was temporarily closed and may become outdated as Plutus develop their product further. This guide may also be outdated once Plutus is deployed on an L2 (Polygon). The benefits of this guide is to save the extra step of having to buy ETH and pay additional gas fees to move your PLU from Plutus -> Ethereum wallet -> exchange. This saves money, time and extra hassle for those who do not use the Ethereum blockchain. In short, this guide will save you the middle step. For the record, I personally would advise that we all do as much as possible ON chain as exchanges are like banks. We all saw what happened to FTX. Do not leave your funds sitting on exchanges. This is more for people who want to sell their rewards as simply as possible. Shout out to u/madkex for raising this strategy and to u/andyodd on Discord (https://www.discord.gg/plutus) for getting on it and trying it out! Step 1 — Go to https://rabby.io/ and download either the extension or the desktop application. For this guide, I use the desktop app as I feel these are safer than browser extensions but they are exactly the same. Rabby — The game-changing wallet for Ethereum and all EVM chains Already looks better than Metamask… >_> Step 2 — Once installed and downloaded, we are going to use this application differently to Metamask. You CAN use it like a normal hot wallet, import your private keys or connect your hardware wallet, but for this, we are going to use it only for exchange deposit addresses and only for the purpose of withdrawing PLU. This is an alternative to Metamask. Whereas Metamask is only a browser extension, alternatives can be downloaded to your desktop for an extra layer of safety such as 0xFrame or Rabby. Step 3 — Click Add Contacts. This is a method to add any wallet address as a ‘watch account’. This means that Web 3 can connect and look at any wallet (all public information) but we will not be able to sign any transactions as these wallets do not belong to us. ‘Contacts’ is a slightly confusing name — think of it more like a watch address or a view-only wallet. Step 4 — Go to the exchange you use (Coinbase, Kucoin or Bitfinex are the most popular) and click Deposit or Send/Receive. Click the cryptocurrency PLU (Plutus) and make sure it says ‘Ethereum Blockchain’. PLU is an ERC-20 token and currently only available on the Ethereum network. Copy the wallet address you are given and paste it into Rabby. (Example: 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045 ) This example is screenshot from Coinbase — all exchanges will look slightly different when looking for your deposit address. Just make sure it is Ethereum /ERC-20. Step 5 — Once you have added the wallet as a ‘contact’ (watch only), you should see it listed with a cup symbol. I have renamed these after adding them but remember, deposit addresses DO change! These are not permanent! Review them regularly. Step 6 — Now click the add button in the bottom left and add a dapp by domain. You can do this for any Web 3 domain. For Plutus, this is dex.plutus.it Note: If you are using the browser extension, I doubt this step is needed. You will likely just connect to Plutus in exactly the same way you use metamask. Rabby has a built-in browser which is how it connects to Web3 websites/dapps. Step 7 — Rabby will now recognise the dapp. Select connect and it will add it on the left side. Now log into Plutus as usual. Think of it just like a browser within the app, no different to Firefox, Brave or Chrome but built within the Rabby wallet app. Again, this is likely not needed with the browser extension. Note the Metamask pop up in the background. This will show as connected once you connect to the dapp. Step 8 — Just like you would in any browser, go to Pluton at the top of the Plutus website, and click the blue Withdraw button. You should now see the exchange deposit address. CHECK THIS. Check it is the same one as in your exchange. Check it again. Once you press the withdraw button, your PLU rewards will go to this wallet so you need to make SURE this is the correct one. Exchanges also sometimes change their deposit addresses. You should double check this on the exchange every time you withdraw. Don’t forget you’ll need £3/€3 in your account to complete the withdrawal. Step 9 — Plutus will contact you if needed and you should receive the funds from the Plutus withdrawal wallet. This is currently taking 1–3 days at the time of writing this. Check ‘Account — PLU Withdrawal Delays/Issues’ in the Support Forum within the Plutus Discord for any updates. Step 10 — Congratulations! The PLU is now in your exchange! Sell it using the trading pair (or by swapping it on Coinbase) — these are often PLU/USDT or PLU/USD. There are some tips and different strategies people use in the ‘Buying & Selling PLU outside of the Plutus DEX’ Support Forum within the Plutus Discord. Your final step will now be to swap that USDT to Euros or Pounds and withdraw that to your bank account. Enjoy! Additional BONUS note: If this guide was your introduction to the world of using blockchains, or even if you are a Metamask user trying something new, please consider using a browser extension such as https://www.joinfire.xyz/ or https://www.walletguard.app/ to monitor your blockchain transactions and show you what you are signing and approving. Stay safe out there! TigerLionFox Written by TigerLionFox 2 Followers More from TigerLionFox TigerLionFox

Without knowing what platform you are on it is hard to give recommendations, but personally I would prefer open source projects. I can really recommend Rabby wallet for browser extension/desktop wallet (mobile is coming soon apparently), entirely open source and made by the people behind debank.com. Really smooth experience coming from metamask.

A real layer 2 would look more like something built on Ethereum (can see all its L2s at https://l2beat.com).

Essentially it's a separate network that every few minutes takes every transaction and compresses it into a data blob that it saves on Ethereum along with a proof that the computation was done correctly. The Ethereum L1 nodes then only need to verify the proof instead of re-executing all transactions that happened on the L2.

With this design users can go straight from an exchange like Coinbase onto the L2 and never need to use Ethereum, and fees are 10x cheaper because of the data compression. Fees will soon be 100x cheaper as Ethereum is adding extra space just for these L2 data blobs that is much cheaper than normal Ethereum data space.

Unfortunately it can't be done on Bitcoin right now because Bitcoin nodes don't have Turing complete scripting and so can't verify the proof that an L2 posts to Bitcoin.

We are running & maintaining the site (https://l2beat.com). Our work is to look on the current Layer 2 deployments on Ethereum & show risks and statistics to the end user. Very interesting thing is that we are a public goods company trying to stay as objective as possible in the industry full of subjectivity. What I mostly like in this job is that I am a part of the project shaping how it looks, not only mindlessly taking someones orders.

Candidate:

Ecosystem fragmentation is not necessarily a bad thing. It leads to rapid development through competition. Different L2s are competing against each other to provide the best service and that has lead to a cambrian explosion of solutions. It's also a very effective way to explore the solution space, I'm sure many will disappear, others will get eaten, and at some point there will be consolidation. But all this seems like a good approach early on when tackling complex problems for which the ideal trade-offs are not entirely obvious. Explore as much of the solution space as possible and trim later on.

A perhaps more pernicious problem is liquidity fragmentation. Moving assets between L2s is a tedious friction that leads to fragmentation of liquidity. In that respect, zero-knowledge rollups present a big advantage as you can share liquidity between them as long as they share some zk-circuits that allow to prove statements to both chains. All this is being very actively worked on. And the technology behind it is short of fascinating. The typical HN audience would have a huge hard-on for it, if they didn't have such a strong preconception against crypto-anything.

If anyone is curious to learn more about L2s a good starting point is here: https://l2beat.com/

And if you want to see Ethereum scaling progress you can check it here: https://l2beat.com/scaling/activity

The next major upgrade to the protocol, slated for late this year or early 2024 (date is not finalized yet), will focus on scalability by making L2 activity veeery cheap.

These two links will give you a lot of the info you need to compare L2s: https://l2beat.com/ and https://www.growthepie.xyz/ - enjoy.

Source: https://l2beat.com

Thanks! l2beat.com is the best.

In addition to what others said, I always find https://l2beat.com useful to see a summary of the security assumptions behind the various L2s. Currently, all L2 need to be trusted to some extent as they are still quite in development.

Exponential.fi has good summaries and links to the projects. And https://l2beat.com is also great for judging L2s.

Take a careful look at https://l2beat.com