Following the highly anticipated optimistic rollup launch of Arbitrum on mainnet earlier this month, MakerDAO’s Protocol Engineering Core Unit is today launching the official DAI Token Bridge.
This means that users are now able to trade, lend, provide liquidity and yield farm with DAI on Arbitrum One. The deployment and integration of a custom DAI token bridge on Arbitrum is an important milestone to facilitate DAI usage across a growing Arbitrum ecosystem.
The Arbitrum DAI Bridge is an upgradable token bridge and governance relay. Over the next week, the deployer address will be removed, and Governance will be the only authority that can upgrade the bridge. This gives us flexibility to introduce future upgrades, but retain security over the bridge, as no multisig keys or individuals are in control of the bridge. Further detail about the design implementation can be read on our Github.
The L2 DAI address has been verified against Arbiscan, with all contract addresses visible in the MakerDAO Github repository. Users can use the DAI bridge to do token deposits and withdrawals via https://bridge.arbitrum.io/ :
Note that although this new development enables the use of DAI on Arbitrum, at this point in time Maker vaults do not exist on L2. Due to the fact that Arbitrum is a separate chain, it is not possible to send DAI directly from an L1 address to an L2 address - users must instead transact through the DAI token bridge if they wish to interact on an alternative network, otherwise user funds will be lost. Similarly, users are not able to send L2 DAI directly to their vaults on L1, the L2 DAI must again go through the DAI token bridge in order to become L1 DAI. Please check the network you are on and the network and address you are sending to otherwise tokens may be lost, and if you are in anyway in doubt please ask on the Maker forum, Arbitrum or Optimism discords for support.