Arcana Network Unveils the First Chain Abstraction Wallet, Pioneering a New Era of Multi-Chain Transactions
Dubai, United Arab Emirates, November 21st, 2024, Chainwire
Arcana Network is pleased to announce the launch of the Arcana Wallet Beta, which is now available on the Chrome Store. This wallet sets a new standard in blockchain accessibility and user experience with its innovative Chain Abstraction Protocol. As the first Externally Owned Account (EOA) wallet to utilize Chain Abstraction, Arcana Wallet allows for a seamless, multi-chain experience. Users can easily spend their assets across Ethereum, Base, Polygon, Arbitrum, and Optimism, with support for 20+ new chains coming soon.
The Arcana Wallet Chrome Extension can be found at www.arcana.network/wallet
Unified Balance: Spend your assets held across chains, in 1-click, without bridging
Arcana Wallet offers a range of features that aim to eliminate fragmentation and provide users with streamlined access to decentralized finance. Through Arcana’s Chain Abstraction protocol, users can now manage their combined USDC, USDT, and ETH balances across multiple networks, all within a single wallet interface. They can instantly spend these funds on any supported chain without the need for bridging.
“At Arcana, our goal is to reimagine blockchain usability by simplifying multi-chain interactions. Arcana Wallet delivers an intuitive and effortless experience that allows users to engage with dApps across chains, without technical barriers,” said Mayur Relekar, Founder & CEO of Arcana Network.
Key Features of Arcana Wallet
Unified Balances: Arcana Wallet aggregates assets into a single balance across supported chains, enabling seamless spending without bridging. For example, users holding USDT on Arbitrum and Optimism will see a combined balance that can be spent on Polygon or Base.
EOA Wallet-Based Orchestration: Users can use their existing EOA address or create a new one, ensuring self-custody. Funds remain in the user’s wallet without being locked up or requiring deposits to another address, ensuring asset security and cross-app accessibility.
Universal Address Accessibility: Unlike wallets that require app-specific setups, Arcana Wallet keeps assets within a single wallet, making them accessible across all apps, even those without native chain abstraction support.
Efficient Gas Payments: Gas fees can be automatically funded in stablecoins (USDT or USDC), eliminating the need to hold native tokens on each chain. Arcana’s optimized protocol keeps gas fees up to 10X lower than traditional solutions that use smart contract accounts.
Near-Instant Cross-Chain Transactions: With Arcana Wallet’s architecture, transactions can be executed within seconds, making it one of the fastest cross-chain transaction tools available. Users can spend assets on multiple chains with one-click transactions, benefiting from improved liquidity and usability.
Expanding dApp and Chain Compatibility
At its Beta launch, Arcana Wallet supports popular dApps such as Uniswap, Aave, Polymarket, Hyperliquid, and Jumper, with compatibility for additional applications and chains on the horizon. Currently supporting Ethereum, Base, Polygon, Optimism, and Arbitrum, the protocol aims to expand support to over 20 EVM and non-EVM L1s, L2s, and appchains. This will allow users to manage funds from any of the integrated networks, marking a significant step towards a unified blockchain ecosystem.
Arcana’s Chain Abstraction SDK
To cater to the developer community, Arcana Network is also launching the Chain Abstraction SDK, which enables developers to incorporate Arcana’s Chain Abstraction features into their own dApps. The SDK provides a versatile toolkit for developers to build chainless user experiences and simplify blockchain interactions for end users, contributing to Arcana’s vision of a unified Web3 UX.
Joining the Arcana Community
As the Arcana Wallet Beta progresses through its Testnet phase, feedback from users and partners will shape the next generation of blockchain interactions. Users can download Arcana Wallet from the Chrome Store and experience the power of Chain Abstraction: Arcana Wallet Chrome Store
About Arcana Network
Arcana Network is a leading Chain Abstraction Protocol powered by an Appchain, with the mission to transform the Web3 UX. Since its establishment in 2021, Arcana Network has introduced products that make Web3 effortless, generating more than 4 million wallets, serving 500,000 active users, and facilitating 6 million transactions to date. The upcoming Chain Abstraction Protocol, built on a Cosmos Appchain and powered by $XAR, represents the next evolution in simplifying Web3. $XAR is the utility token that captures protocol fees, secures the network, incentivizes early adopters, and rewards resource providers. Arcana Network’s innovative technology is supported by prominent investors, including Balaji S., Polygon founders, John Lilic, Santiago Roel, and investment funds such as Woodstock, Fenbushi, Republic, Polygon Ventures, DCG, LD Capital, and others.
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Contact
Marketing Manager
Andria Efstathiou
Arcana Network
[email protected]
