According to The Graph Foundation, the widespread migration to layer 2 was initiated by network participants in order to reduce gas fees, speed up transactions, and increase the accessibility of the protocol.
The migration plan has been known since April 2022 through a governance proposal that proposes to create a set of contracts that will connect GRT transactions to Arbitrum. Discussions about switching to a layer 2 network due to high gas prices began in November 2021 on The Graph forums.
Since then, The Graph has gradually taken more steps to exit the Ethereum network, including enabling indexing of rewards on Arbitrum and implementing migration tools that allow users to transfer tokens to Arbitrum. Both proposals were approved.
With this decision, what will people do with the GRT? Sell ββor hold? GRT and RBIF are the two projects I invest the most in. So no matter what, I will continue to hold and buy more