Synthetix Docs
  • User Docs
  • Synthetix Exchange
  • Leveraged Tokens
  • For Developers
  • WELCOME TO SYNTHETIX EXCHANGE
    • Getting Started
    • Bridging to Synthetix Exchange
  • Perps Basics
    • Perps on Synthetix Exchange
    • Margin Types & Collateral
    • Funding
      • Technical Details
    • Maker or Taker?
    • Leverage & Initial/Maintenance Margin
    • Account Health & Liquidations
    • Conditional Orders
    • Position Modification
    • Gasless One-Click Trading
      • Starting/Stopping 1CT
    • Delegated Trading
      • Getting started with Delegation
      • Accessing Accounts Delegated to You
      • Managing Delegates
      • FAQ
    • Trading Tutorial
      • Connecting a wallet & V3 Account Creation
      • Depositing Collateral
      • Swapping and Bridging
      • Enabling one-click trading
      • Opening a Position
      • Closing a Position
      • Withdrawing Collateral
  • Perps V3 (Base)
    • Overview
    • Multi-collateral Margin
      • Collateral Types
      • What is USDx?
      • The Mechanics of USDx
      • Edge Cases in Liquidation:
      • Settlement of Debt
      • FAQ's
  • Perps V2 (Optimism)
    • Introduction (Legacy)
    • Getting Started on Optimism
    • How to get sUSD
  • INFRASTRUCTURE OVERVIEW
    • Getting Started
    • System Overview
    • Account Management
    • Delegate Management
    • Conditional Orders
    • Oracle Data
  • RESOURCES
    • Audits
  • GitHub
Powered by GitBook
On this page
  • Getting started with Optimism
  • Moving assets to Optimism
  • Withdrawing assets from layer 2
  1. Perps V2 (Optimism)

Getting Started on Optimism

PreviousIntroduction (Legacy)NextHow to get sUSD

Last updated 3 months ago

Ethereum Mainnet transactions are increasingly becoming expensive. This ongoing crisis birthed layer 2 scaling solutions like Optimism.

Transactions are processed on a layer 2 network such as Optimism (a network built on top of Ethereum) instead of occurring directly on mainnet Ethereum. The layer 2 solution submits transactions in groups to the Ethereum Mainnet. They are then secured by Ethereums leading security, significantly reducing end-user fees and increasing transaction speed. Optimism states users can save up to 50x in transaction fees.

Getting started with Optimism

Optimism provides near-instant transactions, lower transaction fees, while providing the same level of security as Ethereum.

The upcoming steps assume you already have setup and funded a web3 wallet on Ethereum Mainnet. Make sure you add the Optimism network to your web3 wallet. If you need help with setting up a wallet, please follow our web3 setup guide and fund it with Ether (ETH).

Moving assets to Optimism

Using Optimism requires users to bridge Ether (ETH) or other supported ERC-20 tokens to the Optimism network. Making use of the official Optimism Gateway bridge makes this process simple and intuitive.

Main Optimism Bridge Screen

Connect your wallet by selecting Connect and select your web3 wallet provider. Make sure you are connected to Ethereum Mainnet.

Once you connected your wallet to the Optimism bridge you can choose supported assets and the amount you wish to send over to layer 2 Optimism.

Finalize the bridge transaction by selecting Deposit and approve the transaction via your connected wallet.

The entire bridging process will take about 5-10 minutes, once complete you are ready to interact with dApps on Optimism.

Withdrawing assets from layer 2

Withdrawing assets back to layer 1 or Ethereum Mainnet can be accomplished via the same Optimism Gateway. Instead of selecting Deposit users instead use the Withdraw function.

There are many bridging solutions available. Note that withdrawals processed via the official Optimism bridge are subject to a 7 day challenge period. Withdrawn funds will be unavailable until this 7 day period is complete. Alternatively users can use other bridges for off-ramp purposes that don't require a 7 day challenge period.

  • https://gateway.optimism.io/ - Official Bridge, however, withdrawals can take up to 7 days

  • https://hop.exchange/ - Fast Bridge Recommended

  • https://www.optimism.io/apps/bridges - More bridges

Select the connectivity option you would like to use
Official Bridge to Layer 2 Screen
Deposit en Route Screen
Withdraw from Layer 2 Ethereum