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John
@silentjohn.eth
Does anybody hold any non-insignificant amount of their wealth on an Ethereum L2? If so which one? I created an Arbitrum Safe Wallet, but I'm still hesitant to put any real amount of ETH in there. It still seems like there's a lot of risk involved with these.
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AG
@verto0912
why would you? Ethereum L1 offers the best security guarantees which presumably is the most important factor for where to keep one's wealth.
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John
@silentjohn.eth
Because we (Ethereans) keep preaching that L2s are where people will be / should be transacting. Fees are low-ish now, but remember when it was $150-$200 to do anything back in 2021?
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AG
@verto0912
There is a difference between transacting and storing wealth though, isn't there? makes sense to transact on a chain / L2 that has the lowest cost and store wealth on a chain that has the highest security guarantees, with cost being largely an irrelevant factor.
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John
@silentjohn.eth
I agree. I buy and hold 99% of my crypto. Just for example though, Coinbase and Gemini charge protocol fees to withdraw. What happens when gas is like $100-150 again to withdraw to mainnet? $150 adds up over time. Even if you withdraw just once a month, that's $1800 in fees per year.
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AG
@verto0912
not sure I follow ser.. if you keep most of your wealth on the mainnet, you wouldn't have to pay those fees.. even at 100 gwei, a simple withdrawal tx from mainnet to a CEX will not cost too much.. if you need to withdraw from an L2 to mainnet once a month, wouldn't going L2 -> CEX -> mainnet be rather cheap?
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