DPI and MVI on Arbitrum FAQ
Everything you need to know about how to bridge DPI and MVI to Arbitrum using Chainlink CCIP.
May 7, 2024
What is CCIP?
CCIP, or the Chainlink Cross-Chain Interoperability Protocol, is a bridging service that provides a simple interface for transferring data, tokens, or both across chains. You can find a wealth of information about CCIP here in the official documentation.
What Index Coop products are enabled with CCIP?
Currently, DPI and MVI are the only Index Coop products enabled by Chainlink CCIP. Bridging between Ethereum, Arbitrum, and Base is currently supported for both DPI and MVI. The official token addresses are:
- DPI Ethereum: 0x1494ca1f11d487c2bbe4543e90080aeba4ba3c2b
- DPI Arbitrum One: 0x9737C658272e66Faad39D7AD337789Ee6D54F500
- MVI Ethereum: 0x72e364f2abdc788b7e918bc238b21f109cd634d7
- MVI Arbitrum One: 0x0104a6FA30540DC1d9F45D2797F05eEa79304525
*not currently incentivized
Is the DPI/MVI on Arbitrum the same as the token on Ethereum?
Yes, DPI and MVI tokens on Arbitrum represent the official versions of both products on Arbitrum. Holders of DPI or MVI on Arbitrum may redeem their tokens for the underlying components after bridging back to mainnet (where the collateral “lives” in the original token contracts).
Please note that the bridged token addresses are not identical to the token addresses on Ethereum mainnet.
How can I earn $ARB rewards?
You can earn ARB rewards by bridging and holding DPI and/or MVI on Arbitrum. To receive rewards for holding DPI/MVI, you must have bridged using the Chainlink Transporter app. Users who may buy or sell DPI or MVI on the Arbitrum secondary market are not eligible.
In the future, ARB rewards may also be earned by providing liquidity on Arbitrum; more information on LP incentives will be published at a later date.
What do I need to do to earn rewards for “holding” DPI or MVI?
Nothing! Once you bridge DPI or MVI to Arbitrum and it is reflected in your wallet, rewards will accrue based on your wallet balance. No additional action is required.
Holding DPI or MVI bought off the secondary market on Arbitrum is not eligible for rewards; only wallets that both bridged and held DPI or MVI are eligible for rewards.
How much $ARB is up for grabs?
For users who bridge and hold DPI and/or MVI on Arbirum, there will be 500 ARB per day of rewards. Users’ balances will be calculated in USD at 00:00 UTC each day, with the 500 ARB split proportionally across all users. This incentive program will run for 12 weeks, with a total allotment of 42,000 ARB.
Distribution details will be uploaded to Merkl and rewards will be made available for claiming after the incentive period ends on 30 July 2024.
How can I track $ARB rewards that I’ve earned?
Index Coop will publish a Dune dashboard imminently that will enable users to track the ARB incentives earned by their respective wallet(s).
A link to this dashboard will be provided in this article as soon as it’s available, and shared across other Index Coop communications channels.
Where can I claim $ARB rewards?
For users that bridge and hold, you can claim your ARB rewards from the Merkl App. ARB rewards can be claimed in a lump sum on 7 August 2024, one week after the incentive period ends on 30 July 2024.
Where can I go to bridge?
You can use the Chainlink Transporter app which acts as a front-end for the CCIP bridge. Here is a direct Transporter link for bridging DPI from mainnet to Arbitrum, and a direct link for bridging MVI from mainnet to Arbitrum.
How long does it take to bridge?
The typical settlement time for a CCIP transaction is roughly 20 minutes. Before bridging, the Transporter app will display “Time to destination” for a given transfer; the example below for bridging DPI from Ethereum to Arbitrum is estimated to take 20 minutes and 19 seconds.
Are there any fees associated with bridging?
CCIP charges a per-transaction fee for token bridging. Currently, the fee to transfer DPI or MVI from Ethereum to Arbitrum is $0.50 (USD) worth of ETH; however, fees may change based on exact bridging path. You can review the CCIP Network Fee table for more details and use their calculator tool to determine precise fee details for a given transaction (examples below).
Index Coop does not charge a bridging fee or receive a portion of the CCIP bridging fee. The Transporter app itself also does not charge additional fees.
Can I bridge anywhere besides Arbitrum?
The current CCIP implementation also supports bridging DPI and MVI to and from Base from Arbitrum or Ethereum mainnet. There are no incentives currently for DPI or MVI activity on Base. That said, DPI or MVI holders who want to bridge to Base can do so via the Chainlink Transporter app.
Here are direct links for bridging DPI from mainnet to Base or bridging MVI from mainnet to Base. Bridging DPI or MVI between Arbitrum and Base is also supported in the Transport app.
Disclaimer: This content is for informational purposes only and is not legal, tax, investment, financial, or other advice. You should not take, or refrain from taking, any action based on any information contained herein, or any other information that we make available at any time, including blog posts, data, articles, links to third-party content, discord content, news feeds, tutorials, tweets, and videos. Before you make any financial, legal, technical, or other decisions, you should seek independent professional advice from a licensed and qualified individual in the area for which such advice would be appropriate. This information is not intended to be comprehensive or address all aspects of Index or its products. There is additional documentation on Index’s website about the functioning of Index Coop, and its ecosystem and community.
You shall not purchase or otherwise acquire our restricted token products if you are: a citizen, resident (tax or otherwise), and/or green card holder, incorporated in, owned or controlled by a person or entity in, located in, or have a registered office or principal place of business in the U.S. (defined as a U.S. person), or if you are a person in any jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized (together with U.S. persons, a “Restricted Person”). The term “Restricted Person” includes, but is not limited to, any natural person residing in, or any firm, company, partnership, trust, corporation, entity, government, state or agency of a state, or any other incorporated or unincorporated body or association, association or partnership (whether or not having separate legal personality) that is established and/or lawfully existing under the laws of, a jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized).
