MetalSwap

<blockquote>— Originally written on <a href="https://metalswap.me/HuseOP" rel="noopener noreferrer nofollow">MetalSwap’s Official Blog</a></blockquote>MetalSwap is very close to releasing its Hedging Swaps on the Optimism blockchain after the <a href="https://metalswap.me/MIP3Succ" rel="noopener noreferrer nofollow">DAO voted in favour</a> of this proposal. In recent days, the article &#34;<a href="https://metalswap.me/intOp" rel="noopener noreferrer nofollow">Introduction to Optimism</a>&#34; was released, providing a theoretical overview of this blockchain. In today&#39;s article, we will explore more practical knowledge on how to interact with this blockchain.What we will cover in this article:<ol><li>Which wallet should I use?</li><li>The bridge operation</li><li>Which asset should I use for the gas fees?</li><li>Which block explorer should I use?</li></ol><h2 id="header-0">Which wallet should I use?</h2>To interact with the Optimism blockchain, just like with other blockchains, we need a DeFi wallet. There are various types available, and Optimism supports dozens of them. However, the most recommended wallets are MetaMask, Coinbase Wallet and Trust Wallet.Within the <a href="https://docs.metalswap.finance/wallet/metamask-set-up" rel="noopener noreferrer nofollow">MetalSwap docs</a>, you can find the setup instructions for all these wallets.In addition to the standard setup, you will need to add the Optimism blockchain to your wallet. For example, in MetaMask, you can go to the &#34;Add Network&#34; section and select the Optimism blockchain.<img src="https://blog.metalswap.finance/hs-fs/hubfs/undefined-Jun-07-2023-05-15-14-8897-PM.png?width&#61;602&amp;height&#61;348&amp;name&#61;undefined-Jun-07-2023-05-15-14-8897-PM.png" />Set Up Optimism Network<h2 id="header-1">The bridge operation</h2>The first step to interact with this blockchain is to transfer your assets to it. To accomplish this, you need to use a bridge that allows you to move assets from one blockchain to another. The most commonly used bridge for this operation is the <a href="https://app.optimism.io/bridge/deposit" rel="noopener noreferrer nofollow">official one</a> provided by the Optimism team. Within this bridge, you can transfer various assets from different blockchains such as Ethereum or Polygon to the blockchain of Optimism.<img src="https://blog.metalswap.finance/hs-fs/hubfs/undefined-Jun-07-2023-05-15-15-0465-PM.png?width&#61;602&amp;height&#61;197&amp;name&#61;undefined-Jun-07-2023-05-15-15-0465-PM.png" />Optimism Bridge web appAs we saw in the <a href="https://metalswap.me/intOp" rel="noopener noreferrer nofollow">previous article</a>, Optimism is part of the optimistic rollup category, this technology makes this blockchain efficient and cost-effective. However, there is a drawback when it comes to withdrawal operations, which means moving assets from Optimism to another blockchain. This process typically takes around 7 days, because of the “<a href="https://community.optimism.io/docs/protocol/2-rollup-protocol/#moving-from-ethereum-to-optimism" rel="noopener noreferrer nofollow">Fraud Proof</a>”. To address this issue, you can use third-party bridges, but they may require higher fees.<h2 id="header-2">Which asset to use for gas fees?</h2>Now that we have our assets within the blockchain, we can start operating with the various dApps. For example, if we want to open a hedging swap on MetalSwap to protect ourselves against the volatility of ETH and <a href="https://metalswap.me/gdd" rel="noopener noreferrer nofollow">earn OP tokens from the incentives</a>, we need to pay fees to the blockchain to process the transaction. But which asset should we use?Many people think that the OP token is used to pay the fees. However, OP is a governance token, and network fees cannot be paid with it. Similar to Ethereum, within the Optimism blockchain, network fees are paid with ETH. Therefore, it is necessary to have ETH in your wallet if you want to operate on this network.Which block explorer should I use?To check the status of your transactions and overall blockchain information, it is necessary to know and use an explorer. Just like Etherscan, the Optimism blockchain has <a href="https://optimistic.etherscan.io/" rel="noopener noreferrer nofollow">Optimism Explorer</a>, which allows you to verify all the on-chain information regarding this specific blockchain.For example, if you want to check your assets balance, simply enter your address in the top left bar and verify the information.<img src="https://blog.metalswap.finance/hs-fs/hubfs/undefined-Jun-07-2023-05-15-15-3806-PM.png?width&#61;602&amp;height&#61;251&amp;name&#61;undefined-Jun-07-2023-05-15-15-3806-PM.png" />Optimism Explorer<h2 id="header-3">Conclusion</h2>The goal of this article is to provide basic information to start operating within this blockchain. In case of any questions, there is the <a href="https://metalswap.me/tg" rel="noopener noreferrer nofollow">official telegram channel</a> where you can express all your doubts.Get ready, Swappers, for the revolution that is coming to MetalSwap.Join this revolution! Goodbye VolatilityTo the MetalSwap! … and beyond -The DeFi Foundation<h2 id="header-4">✎ What is MetalSwap?</h2>MetalSwap is a decentralized platform that allows hedging swaps on financial markets with the aim of providing a coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.With MetalSwap we enable hedge swap transactions through the use of Smart Contracts, AMM style.<h2 id="header-5">⚠️Warning⚠️</h2>❗ METALSWAP ‘s admins or moderators will NEVER contact you directly on any social under any kind of circumstances.❗ Everything concerning $XMT ‘s smart contracts and addresses is shared by our official channels (list below), do not trust any different info from any different source.<h2 id="header-6">Goerli Demo Infobox</h2>https://demo.metalswap.finance/USDT Demo:0xD885375bF67fAB66e7d422a1Dad71f39527A818EWBTC Demo:0xf4027D47753cF54aB51315d1d0cBDF7183d7f8F0XMT Demo:0x5e789DB07183A902571bD7738D2D0E50297697C8WPAXG Demo:0xD1a700e84334992d698CBaD0Cc38e85934eF706CPAXG Demo:0x38deeE79b80e08f51B98f2228Ff8Cd7040d48458Get Goerli tokens from MetalSwap’s faucet!<h2 id="header-7">Links</h2>OFFCIAL WEBSITE &#x1f449;&#x1f3fb; https://www.metalswap.finance/YOUTUBE &#x1f449;&#x1f3fb; https://www.youtube.com/channel/UCuFVZOpAOzuzlmJbPA4wdkwMEDIUM &#x1f449;&#x1f3fb; https://medium.com/metalswapTWITTER &#x1f449;&#x1f3fb; https://twitter.com/MetalSwapNetDISCORD &#x1f449;&#x1f3fb; https://discord.com/invite/eYay7NV6vFTELEGRAM &#x1f449;&#x1f3fb; https://t.me/metalswap

IMPROVEMENT PROCESS - HOW TO USE OPTIMISM

Table of Contents

MetalSwap

Egyéb ezen a dátumon (2023. jún. 8.) megosztott cikkek

EU Consumer Group Files Complaint Against Social Media Platforms Over Crypto Advertising

Bitcoin (BTC) Price Chart Analysis

Google Cloud Joins the Cronos Labs Accelerator Program as a Sponsor to support AI-Enabled Web3 In...

FBBank landed on Galxe, rich activities are in progress！

Bitcoin rises amidst SEC lawsuits targeting Coinbase and Binance

HyperPlay Raises $12M in a Series A Round Led by Griffin Gaming and BITKRAFT

Join our free newsletter for daily crypto updates!