Arcana Chain Abstraction Wallet Live on Testnet

Arcana Wallet is one of the most awaited solutions designed to simplify the way users interact with blockchain networks. By abstracting the complexities of multiple blockchain protocols, Arcana allows users to seamlessly manage assets, execute transactions, and interact with decentralized applications (dApps) without needing deep technical knowledge. Whether you're new to blockchain or an experienced user, Arcana offers a unified experience that eliminates the need to bridge assets across different networks, making decentralized apps more accessible to everyone.

Arcana Wallet Testnet is available on the Chrome Store. At launch, the Arcana wallet supports 5 chains including Ethereum, Base, Arbitrum, Optimism, and Polygon. The unified balance feature works with ETH, USDT, and USDC. More chains and assets will be released after initial trials and feedback from the community and partners. The Arcana wallet supports popular apps out-of-the-box including Aava, Uniswap, Polymarket, Hyperliquid, and Jumper.

Key Features of Arcana Wallet

1. Onboarding Made Easy:

• Import or Create a Wallet: Arcana Wallet allows users to import an existing Externally Owned Account (EOA) wallet (like MetaMask) or create a new one in seconds.
• Set Allowances: This essential setup enables chain abstraction features. By configuring one-time allowances, users can conduct cross-chain transactions seamlessly.
• Buy Crypto: The wallet is integrated with on-ramp providers, allowing users to quickly add crypto to their wallets.
• Deposit Funds: Easily deposit crypto by scanning a QR code or copying the public address.

2. Unified Balances Across Chains: Once assets are added, users can view their unified balance across all supported chains. For example, holding 50 USDC on Arbitrum and 50 USDC on Optimism will show a combined balance of 100 USDC, that can be spent on any supported chain, such as Base.

3. Supported Chains and Tokens: At launch, Arcana Wallet supports five top EVM chains: Ethereum, Base, Arbitrum, Optimism, and Polygon, with support for over 20 more chains expected soon. Supported tokens include USDT, USDC, and ETH (with wETH to follow).
   
4. Chain Abstraction Transactions

Send: Easily send your aggregated balance across chains in a single transaction. For instance, if you hold 100 USDT on Arbitrum and 100 USDT on Optimism, you can send 200 USDT on Base without the need to bridge assets.

Bridge: Bridge your aggregated balance across chains to any Arcana-supported chain in a single transaction. This feature allows users to bridge assets when using apps that are not yet fully supported by Arcana's chain abstraction.

5. Intents and Transaction Transparency: When initiating a transaction, an intent screen displays the source chains and respective assets, with the best route preselected. Future upgrades will allow users to customize the source chains based on their preferences.

6. Total Fees in Chain-Abstracted Transactions: Chain-abstracted transactions incur four types of charges:

• CA Gas Fee: Covers gas costs across chains used to enable chain abstraction.
• Solver Fee: A small basis-point fee for liquidity provisioning, such as providing USDT on Optimism in exchange for USDT on Arbitrum.
• Protocol Fee: Arcana’s CA Protocol applies a small basis-point fee per chain-abstracted transaction.
• Gas Supplied: If the user lacks the required native gas token, the protocol will cover it, deducting the equivalent amount in USDC or USDT.

Arcana Wallet redefines blockchain interaction by bridging chains and simplifying transactions, bringing a more accessible, streamlined experience to users.

Ready to try it out? Visit the Chrome Store to test it on the Arcana Testnet.

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