You can bridge tokens from Optimism to Ethereum using:
Bridges let you transfer assets from one network to another.
Optimism is a Layer 2 solution built on Ethereum that uses rollups to deliver faster transaction processing speed at a cheaper fee per transaction.
Optimism bridges such as the official Optimism Bridge and other independent bridges oversee the transfer of assets between Optimism and other supported networks, including the Ethereum blockchain.
In this article, we take a look at available bridging platforms that support the Optimism network and guide you through the process of bridging between Optimism and Ethereum.
Based on the official Optimism network explorer, over 7 million addresses are active on the Optimism network at the time of writing. The network averages 200,000 transactions daily, with tens of new smart contracts deployed daily. The launch of Worldcoin on the network has boosted activities on the platform following a record number of transactions in 24 hours.
Optimism is a Layer 2 (L2) built on Ethereum that utilizes optimistic rollups. Optimistic rollups are designed to speed up and save transaction costs by packaging thousands of transactions into single batches, confirming them at once, and sending proof of the transaction to the Ethereum mainnet for final verification. Doing this, it claims to improve user experience without sacrificing security. However, there is a challenge period of roughly seven days before funds on Optimism can be withdrawn to Ethereum via the official Optimism bridge, during which users can dispute any incorrect transactions.
As mentioned above, bridges are one of the ways the Optimism network interacts with Ethereum and other networks. Bridging platforms that support the Optimism network allow users to move their crypto assets between Optimism, Ethereum, and other supported networks. Let’s go through some Optimism bridges and how you can use them.
Note that this list is not exhaustive.
The official Optimism Bridge is developed and managed by the Optimism team and community. Two smart contracts are published; one on the Ethereum mainnet and the other on the Optimism network. The smart contract published on Ethereum holds deposits on the mainnet and mints an equivalent amount on the Optimism network. The L2 bridge contract does the reverse when users wish to withdraw their assets to the main network from Optimism. However, withdrawal to the mainnet using the Optimism Bridge could take up to 7 days. This is to allow for any challenges to the results of a rollup transaction by computing a fraud proof, before the assets are released.
According to the Optimism website, withdrawals using the OP Mainnet Gateway is not the preferred solution, as its trustless operation requires it to be slow and expensive.
1. Visit the official Optimism network site, and click Bridge to Optimism or select Bridge from the header menu to use the bridging facility.
2. Switch to the Ethereum network from your wallet and select the asset you wish to bridge, and the amount you wish to deposit.
3. Click Deposit and confirm the transaction from your wallet.
If you wish to deposit tokens into Optimism from networks outside of Ethereum such as Polygon, BNB Chain, or Fantom, you will also have to use third-party bridges such as the ones mentioned below.
1. Navigate to the Withdraw section.
2. Select Use the official bridge.
3. Select the asset you wish to withdraw and enter the amount you wish to withdraw.
4. After reviewing the details, click Withdraw, accept the conditions, and approve from your wallet.
You can check on your withdrawal status through clicking on your address on the top right and selecting Withdrawals, which pulls up a list of withdrawals and their status. If your withdrawal is ready to be claimed, the status will change to Claim, after which you can confirm the withdrawal in your wallet and pay any outstanding fees.
In addition to the official bridge, other independent projects also provide bridging facilities for users who wish to move assets between the Optimism and Ethereum networks. These platforms may utilize a completely different workaround from the official bridge and are not affiliated with the project itself.
Transaction charges could differ as some bridges could charge extra fees for these services, while the transaction duration also differs. The official bridge takes up to seven days to process an asset withdrawal request to the mainnet, but some independent bridges can complete withdrawal requests within an hour.
Now, let’s look at some of the third-party bridges are how you can use them:
Hop Exchange enables seamless transfer of crypto assets through sidechains, Layer 2 solutions, and Layer 1 blockchains through their flexible hToken (Hop Bridge Tokens) algorithm. It utilizes Bonders on the Hop protocol network to serve as liquidity providers so that recipients can redeem the hTokens for the underlying asset. Meanwhile, Bonders will receive their assets once the proper bridging process is completed, and they are rewarded through the Bonder’s fee paid by users.
Hop protocol’s bridge currently supports Ethereum blockchain, Optimism, Arbitrum, Polygon, Gnosis, and XDai. Assets that can be bridged using the protocol include, Ethereum, Polygon (Matic), USDT, DAI, and USDC.
To bridge from Optimism to Ethereum via Hop Exchange:
1. Visit Hop Exchange
2. Connect your wallet and from your wallet, switch to the network you are bridging from.
3. Select the asset you wish to bridge.
4. Next, set up the bridging direction, and enter the amount you wish to transfer.
4. Once all the fields are filled out, click Send to bridge your funds to Ethereum and confirm the transaction in your wallet.
Hop’s fees include a Bonder fee and a destination transaction cost to cover the gas for sending funds from the Bonder to your wallet. There is also a minimum fee of $0.25 per Hop transfer. Slippage on Hop is set to 0.5%.
Stargate is a fully composable, cross-chain liquidity protocol developed using LayerZero’s interoperability technology. Its interoperability solution integrates liquidity pools from multiple DeFi protocols, and allows users to transfer tokens across various blockchains without wrapping tokens with instant guaranteed finality.
The bridge currently supports about 8 networks including Layer 2 scaling solutions like Arbitrum and Optimism.
To bridge from Optimism to Ethereum using Stargate:
1. Visit Stargate and connect your wallet.
2. Click Transfer from the menu to navigate to the bridge
3. From your wallet, switch to the network you are bridging from.
4. Set the direction of your transfer.
5. Enter the amount you wish to bridge. Take note of the slippage as well as the fees incurred.
6. Click Transfer and confirm the transaction in your wallet to complete the process.
As seen above, there are fees attached to Stargate transfers, where each non-STG token transfer has a 0.06% fee.
Synapse Protocol claims to have developed a flexible and secure interoperability protocol that allows genuine communication between diverse networks. Synapse comprises a messaging framework and a secure consensus system that submits the validity proof of cross-chain transactions to target networks.
According to Synapse, its bridging contract can be deployed on any chain where developers wish to create a communication path. Through this, Synapse is able to establish communication between EVM and non-EVM networks. The Synapse bridge is the first product that utilizes this technology. The Synapse bridge supports the transfer of assets between Ethereum, Optimism, Arbitrum, Binance Smart Chain, Polygon, and several other networks.
Here’s how you can bridge your assets from Optimism to Ethereum using Synapse protocol’s bridge.
1. Visit the Synapse Bridge platform.
2. To bridge from Optimism to Ethereum, switch to Optimism from your wallet, select Optimism as the origin and Ethereum as the destination. Do the reverse if you wish to bridge from Ethereum to Optimism.
3. Select the asset you wish to bridge and enter the desired amount.
4. Click Bridge Asset and confirm the transaction from your wallet.
By default, the Synapse bridge charges 0.05% per bridge transaction, with a minimum fee that is chain-specific and dependent on the gas fees of the chain.
If you use the MetaMask wallet to manage your crypto assets, you can bridge between Optimism and Ethereum directly through the Bridge feature in MetaMask Portfolio. To access MetaMask’s Bridge feature on mobile, open the browser and search for “portfolio.metamask.io/bridge”, which will open up the below web page.
Choose the network you are bridging from and the network you want to bridge your assets to, along with the token you want to transfer. The system will then generate quotes from third party bridge providers, with the lowest estimated cost one featured as the “Best Price.” In this case, it’s Hop Protocol.
Clicking “Choose a different quote” will open another window, where you can toggle between Best Price and Fastest.
After choosing your preferred bridge provider, you can click confirm to proceed with the transfer.
Do note that while transferring funds across MetaMask lets you do everything from a single app, using MetaMask comes with a 0.875% MetaMask fee.
Bridges are quite useful, especially in cases like this where they help you enjoy a relatively improved experience. You can bridge your assets to the faster and cheaper Optimism network, explore decentralized applications at cheaper fees and higher throughput and move your assets back to the main network whenever needed. This article guides you through using a few of these platforms. A handful of other independent Optimism bridges are also available.
However, considering the security risks of using bridging platforms, it is recommended that you use reputable bridges and apply caution while interacting with any of them. Also, note that content is only a guide and not financial advice.
Joel is deeply interested in the technologies behind cryptocurrencies and blockchain networks. In his over 7 years of involvement in the space, he helps startups build a stronger internet presence through written content. He is the founder of CryptocurrencyScripts. Follow the author on Twitter @agboifesinachi
Top NFT traders gained from being early to CryptoPunks, Art Blocks, BAYC etc., with one low-profile trader recording profits of 55,291 ETH (~$101.63M).
74% or 37 out of the 50 biggest global banks by assets under management support crypto trading, through regulated crypto exchanges.
Get the full analysis of how Bitcoin, Ethereum, DeFi, NFTs & exchanges performed in Q2 2023, amid regulatory developments in a quiet market.