Arcana Network Launches the First Ever Chain Abstraction Wallet, Ushering a New Era of Multi-Chain Transactions
Dubai, United Arab Emirates, November 21st, 2024, Chainwire
Arcana Network is thrilled to announce the launch of the Arcana Wallet Beta, now available on the Chrome Store, setting a new standard in blockchain accessibility and user experience through its pioneering Chain Abstraction Protocol. Built as the first Externally Owned Account (EOA) wallet to leverage Chain Abstraction, Arcana Wallet enables a frictionless, multi-chain experience where users can spend assets across Ethereum, Base, Polygon, Arbitrum, and Optimism seamlessly, with 20+ new chains coming soon.
The Chrome Extension wallet is available 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 designed to eliminate fragmentation and provide users with streamlined access to decentralized finance. Through Arcana’s Chain Abstraction protocol, users can now manage their aggregated USDC, USDT, and ETH balances across multiple networks, all in a single wallet interface, and spend these funds instantly on any supported chain without the need for bridging.
“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” 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, allowing seamless spending without bridging. For example, users holding USDT on Arbitrum and Optimism see a combined balance ready to spend on Polygon or Base.
- EOA Wallet-Based Orchestration: Users can bring their existing EOA address or create a new one, ensuring self-custody. Funds stay in the user’s wallet, without locking up or requiring deposits to another address, maintaining asset security and cross-app accessibility.
- Universal Address Accessibility: Unlike wallets needing app-specific setups, Arcana Wallet retains assets within one wallet, making them accessible across all apps—even those without native chain abstraction support.
- Efficient Gas Payments: Gas fees can be auto-funded in stablecoins (USDT or USDC), eliminating the need to hold native tokens on each chain. Arcana’s optimised protocol keeps gas fees up to 10X lower than traditional solutions that use smart contract accounts.
- Near-Instant Cross-Chain Transactions: Arcana Wallet’s architecture allows transactions to execute 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, including Uniswap, Aave, Polymarket, Hyperliquid, and Jumper, with compatibility for additional applications and chains on the horizon. From currently supporting Ethereum, Base, Polygon, Optimism, and Arbitrum, the protocol aims to scale support to +20 EVM and non-EVM L1s, L2s, and appchains. Allowing users to manage funds from any of the integrated networks, it will mark a significant step toward a unified blockchain ecosystem.
Arcana’s Chain Abstraction SDK
To cater the developer community, Arcana Network is also launching the Chain Abstraction SDK, enabling developers to implement Arcana’s Chain Abstraction features in their own dApps. The SDK is intended to provide a versatile toolkit for developers to build chainless user experiences and simplify blockchain interactions for end users, helping to grow Arcana’s vision of a unified Web3 UX.
Joining the Arcana Community
As the 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
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 inception in 2021, Arcana Network has introduced products that make web3 effortless, with more than 4 million wallets generated, 500,000 active users, and 6 million transactions to date. The upcoming Chain Abstraction Protocol built on a Cosmos Appchain and powered by $XAR, is the next evolution in simplifying Web3.
$XAR is the utility token that captures protocol fees, secures the network, incentivises early adopters, and rewards resource providers.
Arcana Network’s innovative technology is backed 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.
