Lumerin Is Moving To Arbitrum — Here’s How to Prepare Your LMR Tokens

Bridge your LMR to Arbitrum to enjoy higher transaction speeds and lower fees

Dear Lumerians,

We’ve been truly amazed by the positive response to the Lumerin Hashpower Marketplace’s beta launch. A big thank you goes out to our community, who have stood by us since the inception. Your insights have been instrumental in refining our platform.

In light of this commitment from the community, we’re working diligently to enhance the user experience. That’s why we’ve decided to move to Arbitrum.

Once our beta testing is complete, we’ll transition the Lumerin Hashpower Marketplace to Arbitrum in September 2023. This move will offer Lumerin users numerous benefits, such as higher transaction speed and lower fees.

To enjoy these benefits, simply transfer your LMR from Ethereum to Arbitrum. This guide will walk you through the process.

Watch the video tutorial:

Migrating LMR From Ethereum To Arbitrum

The Lumerin token (LMR) was originally deployed in the Ethereum mainnet. To keep using the Lumerin Hashpower Marketplace, you will have to transfer these tokens from Ethereum to Arbitrum.

This is a straightforward process, as Arbitrum has a dedicated bridge to help you do this.

Important note: If this is your first time using Arbitrum, please be aware you’ll also need to migrate ETH to pay for network fees.

To get started, go to the Arbitrum Bridge page and connect your wallet.

Once connected, you’ll land on the Arbitrum Bridge interface. Here, select the Ethereum Mainnet as the “From” network (this should be the default setting). Then, click on the Ethereum symbol.

This will open a dropdown menu, where you can select the token you want to bridge to Arbitrum. Search for LMR and import it.

When importing LMR, make sure to double check on the token contract address: 0x4b1d0b9f081468d780ca1d5d79132b64301085d1.

Now, select the amount of LMR you want to move to Arbitrum. We recommend that you migrate your entire balance so that you can use it on the Lumerin Hashpower Marketplace. You can easily do this by clicking on the “Max” button on the right.

When you enter the amount, the Arbitrum Bridge will show you an estimate of the gas fees you’ll have to pay for the transaction. If you’re happy with the fees, click on the “Move funds to Arbitrum One” button.

A transaction request will pop up on your wallet. Confirm it to approve the transaction.

Once the transaction goes through, you’re all set! Your funds will be moved to the same wallet address on the Arbitrum network, where you’ll be able to interact with the Lumerin Hashpower Marketplace.

Remember! After you have bridged your LMR, some wallets like MetaMask require you to import the token to see your balance. Here’s the official contract you must use to do that:

0x0FC0c323Cf76E188654D63D62e668caBeC7a525b

Important note: Please be aware that migrating LMR tokens from Arbitrum back to the Ethereum mainnet is a seven-day process. This is an immutable condition set by the Arbitrum Bridge.

Adding Arbitrum to Your Wallet

If this is your first time using Arbitrum, you’ll have to add it to your wallet in order to use it. Before proceeding, make sure your wallet supports the Arbitrum One network.

You can easily add Arbitrum to your wallet from the same Arbitrum Bridge site we were using before. To do this, simply connect your wallet and change the network to Arbitrum.

This will prompt a request in your wallet provider, asking you to confirm the network addition. Click on the “Approve” button to conf

That’s it! You will now be able to access your wallet on the Arbitrum network by selecting it on the top-left menu in your wallet interface.

If you have any questions, please make sure to join Lumerin’s Telegram channel, where the team is consistently present, helping the community and clearing doubts.