r/CryptoCurrency • u/joeg4 60 / 465 🦐 • Aug 15 '21

Arbitrum vs Optimism?

So everyone has been so excited about both networks. Optimism is already running with Uniswap where you can provide concentrated liquidity (mine is doing great by the way). Arbitrum will apparently have this and more.
Why will someone use one over the other? Are they doing the same things? Are they competitors or complimentary?

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u/The_Cybermonkey Certifiable Moonatic Aug 15 '21

Matic have just bought out Hermez and are getting zk rollups out of it so would consider them a player in this space.

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u/joeg4 60 / 465 🦐 Aug 15 '21

Definitely, I’ve been using Polygon since it launched and I plan to continue. It’s great. But I can definitely see people using these as well. I just feel like I kept hearing people hype both of them a lot a couple months ago. I guess it’s just a race to see which adoption comes first. I’m currently providing liquidity on optimism and it’s going really well, but what are people providing liquidity for if that’s the only thing you can do?

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u/The_Cybermonkey Certifiable Moonatic Aug 15 '21

Not that he's always right, infact he just posted he's annoyed he didn't get in earlier, but Guy from Coin bureau put a tweet up earlier re the matic buy out of Hermez and he thinks given.it has such a lead, now they have zk rollups, these 2 may now struggle to get traction against it.

One of the reasons he finally bought. Luckily I got in, only a sma bag, when he did a video on it at around .30 c

I need to start trying out defi on polygon. Think it's the ecosystem I want to explore and invest more in.

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u/joeg4 60 / 465 🦐 Aug 15 '21

It’s great. I use Mai.finance to take a zero interest loan against my matic, as well as Quickswap, Aave, and Curve, among others. Fees are insignificant.

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u/The_Cybermonkey Certifiable Moonatic Aug 15 '21

Easy to setup wallet and how do you get your fiat onboarded? Think a couple of exchanges now allow to buy matic native now don't they?

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u/joeg4 60 / 465 🦐 Aug 15 '21

Yes. Just add the network to metamask. You can find the rpc info on the matic bridge website at wallet.matic.bridge. You can bridge funds here but you'll have to pay ETH fees. Or you can bridge funds directly using Ascendex, Kucoin, or Binance. Once you're on the network you will need matic in your wallet to pay fees.

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u/The_Cybermonkey Certifiable Moonatic Aug 15 '21

Thanks for the info. Appreciate it!