Everything You Need to Know for the LSK Migration to Lisk L2

As Lisk makes its transition to a Layer 2, it’s essential to stay informed and prepared. Whether you're a seasoned crypto enthusiast or a newcomer, this guide will walk you through the crucial steps to ensure a smooth migration to the Lisk L2. From adding Lisk network to your wallet using Chainlist, claiming your LSK ERC-20 tokens, bridging ETH using the Lisk Bridge, to optimizing your gas fees with MilkRoad's Ethereum Gas Tracker, we've got you covered.

By Lisk

21 May 2024

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1. How to Add the Lisk Network to Your Wallet Using Chainlist 2. How to Claim Your LSK ERC-20 Tokens 3. How to Sign a Claim Message with Lisk Desktop in Ledger Developer Mode 4. How to Bridge ETH Using the Lisk Bridge 5. Other Available Bridges 6. How to Optimize Your Gas Fees with Milk Road's Ethereum Gas Tracker

LSK - ERC-20 Token - Smart Contract Addresses:

  • Ethereum L1: 0x6033F7f88332B8db6ad452B7C6D5bB643990aE3f
  • Lisk L2: 0xac485391EB2d7D88253a7F1eF18C37f4242D1A24

1. How to Add the Lisk Network to Your Wallet Using Chainlist

In this step-by-step guide, we'll walk you through the process of adding the Lisk network to your wallet using Chainlist. Remember, you can use any Ethereum based wallet that allows you to add custom networks immediately! That includes Metamask, Coinbase Wallet, Rainbow browser extension, etc...

Step 1: Open Chainlist Start by opening your web browser and navigating to Chainlist. Chainlist is a handy platform that allows users to easily add EVM-compatible networks to their wallets.

Step 2: Connect Your Wallet Click on the "Connect Wallet" button located at the top right corner of the Chainlist homepage. A prompt will appear, asking you to choose your wallet. Common options include MetaMask, Trust Wallet, and WalletConnect. Select your wallet and follow the on-screen instructions to connect it to Chainlist.

Connect Wallet.png

Step 3: Search for Lisk Network Once your wallet is connected, the address of your selected account will replace the 'Connect wallet' button. Use the search bar on the Chainlist homepage. Type "Lisk" into the search bar and press Enter. The Lisk network should appear in the search results.

Step 4: Add Lisk Network In the search results, locate the Lisk network. Click on the "Add Chain" button on the Lisk network card. Your wallet will prompt you to approve the addition of the new network. Make sure to review the network details to ensure accuracy.

Add chain.png

Step 5: Confirm Network Addition Confirm the addition of the Lisk network in your wallet by clicking "Approve" or "Add Network" in the wallet prompt. The Lisk network should now be added to your wallet, and you can switch to it using your wallet's network switcher.

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2. How to Claim Your LSK ERC-20 Tokens

Check our Step-by-Step Guide! We've made it into a video to make sure you're good!

If you are trying to claim your LSK tokens with multisig accounts, please check our Step-by-Step Guide here.

Please always make sure to use the Official Lisk Portal at the following address: https://portal.lisk.com/

Never Assume, always verify!

3. How to Sign a Claim Message with Lisk Desktop in Ledger Developer Mode

We are currently waiting for Ledger to officially release the Lisk app into production. However, for advanced users, it is already possible to sign a claim message using the developer mode in Ledger. Follow the steps below to complete this process.

Before you start:

  • Safety Risk: Enabling developer mode and installing apps outside of Ledger Live carries potential safety risks. We recommend waiting for the official release to avoid these risks.
  • Post-Signature: Once you have signed the claim message, you should uninstall the app and disable developer mode.

Step 1: Enable Developer Mode on Ledger Live

  • Download and launch the Ledger Live application
  • Enable Developer Mode by following the instructions provided here: Ledger Developer Mode.

Step 2: Install Lisk App v4.0.0 (Lisk Legacy)

  • Connect your Ledger device to the Zondax hub: Zondax Hub for Lisk.
  • Install the Lisk App v4.0.0 (Lisk Legacy) on your Ledger device.

Step 3: Connect to Ledger Device in Lisk Desktop

  • Open the Lisk Desktop application.
  • Connect your Ledger device to Lisk Desktop.

Step 4: Sign Claim Message

  • Follow the general instructions provided in the Lisk Desktop application to sign the claim message

4. How to Bridge ETH Using the Lisk Bridge

Step 1: Access the Lisk Bridge

  • Visit the Lisk Bridge Website: Go to the official Lisk Bridge.
  • Connect Your Ethereum Wallet: Click on "Connect Wallet" and choose MetaMask or another Ethereum wallet.

Step 2: Bridge ETH to Lisk

  • Select Ethereum to Lisk Transfer: On the Lisk Bridge interface, select the option to transfer ETH from Ethereum to the Lisk network.
  • Enter Transfer Details: Specify the amount of ETH you want to bridge.
  • Lisk Wallet Address: Enter your Lisk wallet address where you want to receive the bridged assets.
  • Review Transaction: Double-check all the details, including the amount and wallet addresses, to ensure accuracy.

Step 3: Confirm and Execute the Transfer

  • Confirm Transaction on Ethereum Wallet: After reviewing, confirm the transaction in your Ethereum wallet.
  • Wait for Confirmation: The bridging process will take some time as it requires confirmation on both the Ethereum and Lisk networks. You can track the transaction status on the Lisk Bridge interface.

Step 4: Verify Receipt in Lisk Wallet

  • Check Your Lisk Wallet: Once the transaction is confirmed, open your Lisk wallet to verify that the bridged assets have been received.
  • Transaction Complete: You should see the equivalent ETH in your Lisk wallet.

Tips and Reminders:

  • Transaction Fees: Be aware of the transaction fees on both the Ethereum and Lisk networks. Ensure you have enough ETH to cover these fees.
  • Network Congestion: Bridging times can vary depending on network congestion. Patience is key.

5. Other Available Bridges

In addition to the official Lisk Bridge, you can use the following third-party bridges for your asset transfer needs:

Relay Bridge

Relay offers an alternative method for bridging ETH to the Lisk network. It provides a user-friendly interface and supports various cryptocurrencies.

Superbridge

Superbridge is another reliable option that facilitates the transfer of ETH to Lisk. The app specializes in bridging ETH and ERC20 tokens into and out of the Superchain.

6. How to Optimize Your Gas Fees with Milk Road's Ethereum Gas Tracker

Once on the Lisk L2, gas fees will be very low! However, you will need to make at least one initial transaction from the Ethereum mainnet to bridge ETH to the Lisk L2. Optimizing gas fees on the Ethereum mainnet can save you some money, especially during periods of high network congestion! Milk Road's Ethereum Gas Tracker is an excellent tool for this purpose. Here’s how you can use it to minimize your gas costs:

Tip 1: Visit Milk Road’s Ethereum Gas Tracker Navigate to Milk Road's Ethereum Gas Tracker to access real-time gas fee information.

Tip 2: Monitor Gas Prices The tracker provides up-to-the-minute gas price data, showing the current low, average, and high gas fees. By keeping an eye on these values, you can decide the best times to execute transactions when fees are lower.

Tip 3: Set Gas Alerts Use the alert feature to get notified when gas prices drop to your desired level. This way, you don't have to constantly check the tracker and can instead receive updates directly to your device.

Tip 4: Use Suggested Gas Prices Milk Road's tracker often includes recommended gas prices for different transaction speeds (fast, standard, and slow). Choosing the right speed based on your urgency can help you avoid overpaying for gas.