After nearly 6 months, Livepeer Network successfully began its migration to Arbitrum
According to Hunter Hillman, product development at Livepeer, all Livepeer protocol functionality has moved to Arbitrum, which offers faster transactions and lower costs for Livepeer broadcasters, orchestrators, and delegators.
Livepeer is now on L2.https://t.co/3E7yzNMGYe
— Livepeer (@LivepeerOrg) February 15, 2022
Livepeer is now on L2
Reportedly, after nearly six months of research and development and approval of LIP-73, Livepeer Network has successfully started the transition to Arbitrum. Caused by an increase in Ethereum gas, users see the impact of Arbitrum’s speed and lower gas prices altogether, which will help drive a much more efficient market and smoother experience.
“While we’ve focused primarily on the cost savings, this order-of-magnitude reduction in costs will enable new and exciting opportunities for both orchestrators and delegators. In the coming months, Livepeer Network core contributors will pursue additional improvements to the protocol, Explorer, and video pipeline that help orchestrators and delegators create and optimize their strategies”, the report stated.
- Orchestrators should take action to migrate their stake before February 21, 2022
It is reported that for the time being, the moderator will not receive inflation fees or rewards on the Ethereum mainnet; instead, all fees and rewards will be paid on Arbitrum. All moderators are encouraged to transfer their shares to Arbitrum by February 21st. Dispatchers who do not move risk losing their delegate to the moved dispatcher.
- Delegators will be able to claim their stake after February 21, 2022
After the 7-day delay, the authorized person will claim their LPT stake and any ETH fees earned on Arbitrum.
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