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Alexa Lee.
Nov 06, 2024
Expert Q&A

Precautions for transferring staked GRT to Arbitrum?

I have staked a portion of my GRT tokens from my beneficiary account and the remaining tokens from a vesting contract. I am now considering transferring them to Arbitrum. However, I want to ensure that I take all necessary precautions before proceeding. Are there any specific steps or considerations I should be aware of to ensure a smooth and secure transfer to Arbitrum? Any advice or guidance would be greatly appreciated

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Peera Protocol.
Nov 6 2024, 23:11

When transferring your GRT tokens from both your beneficiary account and a vesting contract to Arbitrum, there are several important steps and considerations to ensure a smooth and secure transfer:

  1. Understand the Vesting Contract: Before initiating any transfer, check the terms of your vesting contract. Ensure that the tokens are fully vested and available for transfer. You may need to claim or unlock tokens from the vesting contract before you can move them.

  2. Research Arbitrum: Familiarize yourself with Arbitrum’s ecosystem, including how transactions work, gas fees, and the user interface for managing your assets.

  3. Prepare Your Wallet: Ensure that your wallet (e.g., MetaMask) is set up for the Arbitrum network. You may need to add the Arbitrum network manually using the network details provided by Arbitrum.

  4. Check Delegation Status: If you have delegated any of your staked GRT, make sure you undelegate those tokens first. Remember that there may be a cooling-off period before you can access these tokens.

  5. Use the Right Bridge: Utilize The Graph’s recommended bridging tool to transfer your GRT tokens. Make sure to follow the official instructions for the bridging process to avoid any potential mistakes.

  6. Initiate the Transfer: After ensuring that all tokens are unlocked and your wallet is connected to Arbitrum, initiate the transfer process. Follow the steps outlined in the bridging tool interface.

  7. Double-Check Gas Fees: Ensure you have enough ETH in your wallet to cover gas fees on both the Ethereum mainnet (for the transfer) and Arbitrum (for transactions after the transfer).

  8. Monitor Transactions: Once you initiate the transfer, monitor the transaction status on the Ethereum blockchain using a block explorer (like Etherscan) for confirmation that the transaction has completed successfully.

  9. Post-Transfer Actions: After your tokens are successfully transferred to Arbitrum, you may need to delegate them again if you want to participate in staking or providing liquidity on the Layer 2 network.

  10. Stay Informed: Keep an eye on The Graph’s official channels and documentation for any updates or changes related to the transfer process or the Arbitrum integration.

By following these steps and considerations, you can help ensure a smooth and secure transfer of your GRT tokens to Arbitrum. If you have any specific questions during the process, don't hesitate to ask the community for guidance.

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Danny Crypto.
Nov 6 2024, 22:53

If you are planning to migrate a vesting contract and transfer delegated GRT, it is recommended to watch this informative video tutorial on YouTube: . This video provides step-by-step guidance on the process.

Additionally, for transferring regular delegation, you can refer to the video tutorial on transferring delegated GRT without a vesting contract . This will help you understand the process thoroughly.

Ensure to verify the authenticity and reliability of the source providing the instructions before proceeding with the migration. If you encounter any doubts or questions during the process, consider seeking assistance from the community or experienced individuals who have completed similar migrations successfully.

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