The Graph project to migrate to Arbitrum

The Graph, the decentralized data-indexing protocol, announced its transition to the final stage of deploying Arbitrum’s second-layer network. The move is aimed at increasing scalability and reducing transaction costs.

The final presentation, The Graph’s L2 Journey, Transfer Tools, & Next Steps with @pcarranzav from @edgeandnode is about to begin!

Livestream links:
Livepeer: https://t.co/oxhOostm72
YouTube: https://t.co/ssvIdDzArj

— The Graph (@graphprotocol) June 14, 2023

Community members voted in favor of the initiative. It aligns with the aim of expanding network capabilities and reducing costs of participation.

The process began in 2022 with the initial rollout as the first phase. In the second phase, the protocol rewards were enabled on L2. In the third phase, a full transition to Arbitrum will be carried out.

“The Graph users have consistently sought a solution to improve gas-cost efficiency and other aspects of network operation. After a careful evaluation of the available options, the ecosystem chose Arbitrum. It will provide speed and accessibility for protocols and network participants,” — said Tigan Klein, CEO of one of Edge & Node’s development teams.

Users of The Graph will be able to migrate to Arbitrum across all products. Protocol rewards will gradually shift from Ethereum and will operate fully in the L2 solution. Core Graph developers are actively refining tools to facilitate this transition.

According to the team, the transition will allow the delegator to delegate the utility token more efficiently thanks to lower transaction fees. Indexers will be eligible for rewards in GRT, while gas fees after the transition will be reduced by up to 300-fold.

Recently, hardware wallet maker Ledger added support for Arbitrum and its utility token.

We recently integrated support for $arb token and Arbitrum’s layer 2 solution for #ethereum into Ledger devices and Ledger Live.

Our team is hosting a Discord AMA with @arbtrum’s @eli_defi at 7:30pm CEST today.

Join us here:https://t.co/RBZscc5yZs pic.twitter.com/prXFKP9SUH

— Ledger (@Ledger) June 15, 2023

Earlier in June 2023, Circle, a member of the Centre consortium, planned to launch the USDC stablecoin USDC on June 8 on Arbitrum.