Dubai, United Arab Emirates, November 21st, 2024 – ChainwireArcana Network is excited to announce the launch of the Arcana Wallet Beta, now available on the Chrome Store. This innovative wallet sets a new benchmark in blockchain accessibility and user experience through its groundbreaking Chain Abstraction Protocol. As the first Externally Owned Account (EOA) wallet to utilize Chain Abstraction, Arcana Wallet enables users to engage in a seamless multi-chain experience, allowing them to spend assets across Ethereum, Base, Polygon, Arbitrum, and Optimism effortlessly.
With over 20 additional chains on the horizon, this launch is poised to redefine how users interact with decentralized finance. The Chrome Extension wallet can be accessed at www.arcana.network/wallet.
Unified Balance: Spend your Assets Across Chains with One Click
Arcana Wallet is designed to eliminate fragmentation and provide users with streamlined access to decentralized finance. Thanks to Arcana’s Chain Abstraction protocol, users can now manage their aggregated USDC, USDT, and ETH balances across multiple networks within a single wallet interface. This allows for instant spending on any supported chain without the cumbersome process of bridging.
Mayur Relekar, Founder & CEO of Arcana Network, stated: “At Arcana, our goal is to reimagine blockchain usability by abstracting the complexities that come with multi-chain interactions. Arcana Wallet delivers an intuitive and effortless experience that allows users to engage with dApps across chains without technical barriers.”
Key features of Arcana Wallet
- Unified Balances: Users can aggregate assets into a single balance across supported chains. For instance, if you hold USDT on Arbitrum and Optimism, you will see a combined balance ready for spending on Polygon or Base.
- EOA Wallet-Based Orchestration: Users have the option to bring their existing EOA address or create a new one. This ensures self-custody where funds remain in the user’s wallet without locking up or requiring deposits to another address—maintaining security and cross-app accessibility.
- Universal Address Accessibility: Unlike traditional wallets that require app-specific setups, Arcana Wallet retains assets within one wallet. This makes them accessible across all applications—even those lacking native chain abstraction support.
- Efficient Gas Payments: Users can auto-fund gas fees in stablecoins (USDT or USDC), eliminating the need to hold native tokens on each chain. Arcana’s optimized protocol keeps gas fees up to 10 times lower than traditional solutions using smart contract accounts.
- Near-Instant Cross-Chain Transactions: The architecture of Arcana Wallet allows transactions to execute within seconds. This feature makes it one of the fastest cross-chain transaction tools available, enabling users to spend assets on multiple chains with one-click transactions—enhancing liquidity and usability.
Expanding dApp and Chain compatibility
At launch, Arcana Wallet supports popular dApps such as Uniswap, Aave, Polymarket, Hyperliquid, and Jumper. The protocol aims to expand compatibility further by integrating additional applications and chains soon. Currently supporting Ethereum, Base, Polygon, Optimism, and Arbitrum, Arcana plans to scale support to over 20 EVM and non-EVM L1s, L2s, and appchains. This expansion will allow users to manage funds from any integrated network—marking a significant step toward a unified blockchain ecosystem.
Arcana’s Chain Abstraction SDK
To empower the developer community, Arcana Network is also launching the Chain Abstraction SDK. This toolkit enables developers to implement Arcana’s Chain Abstraction features into their dApps. The SDK is designed to provide developers with versatile tools for building chainless user experiences while simplifying blockchain interactions for end users—supporting Arcana’s vision of a unified Web3 user experience.
Joining the Arcana Community
As the Arcana Wallet Beta progresses through its Testnet phase, feedback from users and partners will be instrumental in shaping the future of blockchain interactions. Users are encouraged to download Arcana Wallet from the Chrome Store and experience the transformative power of Chain Abstraction.
About Arcana Network
Arcana Network stands at the forefront of blockchain innovation as a leading Chain Abstraction Protocol powered by an Appchain. Its mission is to revolutionize Web3 user experiences. Since its establishment in 2021, Arcana Network has launched products that make Web3 more accessible. The network has generated over 4 million wallets, boasts 500,000 active users, and has facilitated 6 million transactions to date. The forthcoming Chain Abstraction Protocol built on a Cosmos Appchain and powered by $XAR represents the next evolution in simplifying Web3 interactions.
The $XAR token serves multiple purposes: capturing protocol fees, securing the network, incentivizing early adopters, and rewarding resource providers. Arcana Network’s innovative technology has garnered support from prominent investors including Balaji S., founders of Polygon, John Lilic, and Santiago Roel, along with investment funds such as Woodstock, Fenbushi Capital, Republic, Polygon Ventures, DCG, and LD Capital among others.
For more information about Arcana Network and its offerings:
- Website
- Telegram
- YouTube
This launch not only marks a significant milestone for Arcana Network but also heralds a new era for blockchain technology—where multi-chain transactions become as seamless as traditional financial operations. With its focus on user experience and developer empowerment through innovative tools like the Chain Abstraction SDK, Arcana is set to lead the charge in making Web3 accessible for everyone.
Conclusion
The launch of the Arcana Wallet Beta represents a transformative step in the blockchain landscape, introducing a pioneering Chain Abstraction Protocol that simplifies multi-chain transactions for users. By offering features such as unified balances, EOA wallet orchestration, and efficient gas payments, Arcana Network is poised to enhance user experience and accessibility in decentralized finance. As the ecosystem expands with support for more chains and dApps, Arcana Wallet is set to redefine how users interact with Web3, paving the way for a more integrated and user-friendly blockchain environment.
FAQs
What is the Arcana Wallet?
The Arcana Wallet is a Chrome Extension wallet that utilizes Chain Abstraction to allow users to manage and spend their assets across multiple blockchains seamlessly.2.
How does Chain Abstraction work?
Chain Abstraction simplifies multi-chain interactions by allowing users to aggregate their assets into a single balance, enabling instant spending without the need for bridging.
Which blockchains are currently supported by Arcana Wallet?
At launch, Arcana Wallet supports Ethereum, Base, Polygon, Arbitrum, and Optimism, with plans to expand to over 20 additional chains.
Can I use my existing wallet with Arcana?
Yes, users can bring their existing Externally Owned Account (EOA) address or create a new one while maintaining self-custody of their funds.
How can developers integrate Arcana’s features into their dApps?
Developers can utilize the Chain Abstraction SDK provided by Arcana Network to implement its features within their decentralized applications.
How are gas fees handled in the Arcana Wallet?
Gas fees can be auto-funded in stablecoins like USDT or USDC, eliminating the need to hold native tokens on each chain, and keeping fees significantly lower than traditional methods.
Is the Arcana Wallet secure?
Yes, the Arcana Wallet maintains asset security by allowing users to retain control of their funds without locking them up or requiring deposits to other addresses.
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