Arcana Network has launched the first chain abstraction wallet, ushering in a new era of multi-chain transactions.

adminNovember 21, 2024

Dubai, United Arab Emirates, November 21, 2024, Chainwire

Arcana Network is pleased to announce the beta launch of Arcana Wallet, now available in the Chrome Store. This beta sets a new standard for blockchain accessibility and user experience through its pioneering chain abstraction protocol. Built as the first External Owned Account (EOA) wallet to leverage chain abstraction, Arcana Wallet provides a frictionless multi-chain experience that allows users to seamlessly use assets across Ethereum, Base, Polygon, Arbitrum, and Optimism, with over 20 More new chains are added. soon.

The Chrome extension wallet is available at www.arcana.network/wallet.

Unified Balances: Use your assets across multiple chains with one click, no linking required.

Arcana Wallet offers a variety of features designed to eliminate fragmentation and provide users with efficient access to decentralized finance. With Arcana’s chain abstraction protocol, users can now manage aggregated USDC, USDT, and ETH balances across multiple networks from a single wallet interface and instantly use these funds on all supported chains without bridging.

“Arcana’s goal is to reimagine blockchain usability by abstracting the complexity that comes with multi-chain interactions. Arcana Wallet provides an intuitive and easy experience for users to participate in dApps across chains without technical barriers.” said Mayur Relekar, Founder and CEO of Arcana Network.

Key features of Arcana wallet

Consolidated Balance: Arcana Wallet aggregates assets across supported chains into a single balance, enabling seamless spending without linking. For example, users holding USDT on Arbitrum and Optimism will be able to see the combined balances available on Polygon or Base.
EOA wallet-based orchestration: Users can import an existing EOA address or create a new one to ensure self-administration. Funds are stored in the user’s wallet without having to be locked or deposited to another address, keeping assets secure and accessible across apps.
Universal address accessibility: Unlike wallets that require app-specific setup, Arcana Wallet keeps your assets within one wallet, making them accessible to all apps, even those without native chain abstraction support.
Efficient gas payment: Gas fees can be automatically funded with stablecoins (USDT or USDC), eliminating the need to hold native tokens on each chain. Arcana’s optimized protocol maintains gas fees up to 10x lower than existing solutions using smart contract accounts.
Near-instant cross-chain transactions: Arcana Wallet’s architecture allows transactions to be executed within seconds, making it one of the fastest cross-chain trading tools. Users can use assets across multiple chains with one-click transactions and benefit from improved liquidity and usability.

Expanding dApp and chain compatibility

At beta launch, Arcana Wallet supports popular dApps including Uniswap, Aave, Polymarket, Hyperliquid, and Jumper, and will also be compatible with additional applications and chains in the future. Protocols that currently support Ethereum, Base, Polygon, Optimism, and Arbitrum aim to expand support to +20 EVM and non-EVM L1, L2, and AppChain. Enabling users to manage their funds across all unified networks will be a significant step toward a unified blockchain ecosystem.

Arcana’s Chain Abstraction SDK

To cater to the developer community, Arcana Network is also releasing a Chain Abstraction SDK to enable developers to implement Arcana’s chain abstraction features in their dApps. The SDK is intended to help grow Arcana’s vision for a unified Web3 UX by providing a versatile toolkit that allows developers to build chainless user experiences and simplify blockchain interactions for end users.

Join the Arcana Community

As Arcana Wallet Beta moves through its testnet phase, feedback from users and partners will help 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

Introduction to Arcana Network

Arcana Network is a leading chain abstraction protocol based on Appchain with a mission to transform Web3 UX.

Since its founding in 2021, Arcana Network has launched products that make web3 easy, with over 4 million wallet creations, 500,000 active users, and 6 million transactions to date. The upcoming chain abstraction protocol built on Cosmos Appchain and powered by $XAR is the next evolution of Web3 simplification.

$XAR is a utility token that collects protocol fees, secures the network, incentivizes early adopters, and rewards resource providers.

Arcana Network’s innovative technology is backed by prominent investors including Balaji S., Polygon founder, John Lilic, Santiago Roel, and investment funds such as Woodstock, Fenbushi, Republic, Polygon Ventures, DCG, LD Capital, and others.

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