Key Takeaways:

  • Introduction to Circle's Arc Testnet.
  • USDC as gas fee: advantages and implications.
  • Step-by-step guide to interact with Arc Testnet.
  • The first 11 projects being built on Arc.
  • Potential risks and rewards of participating in the Testnet.

Arc Testnet: An Overview

Three weeks after the launch of Circle's Arc Testnet, it's positioning itself as an "economic operating system for the internet." Unlike many Layer 2 solutions, Arc directly uses USDC for gas fees. This eliminates the need for users and institutions to hold ETH or other volatile tokens for on-chain transactions.

Key Features of Arc

* **EVM Compatibility:** Ensures seamless integration with existing dApps. * **Configurable Privacy Options:** Supports regulatory compliance. * **Full-Stack Circle Integration:** Streamlines operations across lending, capital markets, FX, and payments.

The USDC Advantage

Backed by Circle, Arc leverages substantial TradFi resources and a vast USDC liquidity pool. This advantage positions Arc as a potential key player in Real World Assets (RWA) and enterprise applications.

Potential Native Arc Token

Circle has hinted at the possibility of launching a native token on Arc, further heightening the network's excitement.

Step-by-Step Guide to Interacting with Arc Testnet

Here's a step-by-step guide on how to interact with the Arc Testnet: 1. **Add Arc Testnet Network:** Use the provided link. 2. **Claim USDC or EURC Testnet Tokens:** Use the Circle faucet. 3. **Interact with OnChainGM:** Send GM interactions and deploy contracts. 4. **Interact with zkCodex:** Send GM interactions, deploy contracts, and mint commemorative NFTs. 5. **Deploy NFT Collection on OmniHub:** Upload images and confirm details. 6. **Swap USDC to WUSDC on Curve:** Add USDC/EURC liquidity. 7. **Mint Genesis Pass NFT on ArcFlow Finance:** Complete social media tasks. 8. **Register a Domain on InfinityName.**

First Projects Building on Arc

The first 11 projects building on Arc include: * ZKP2P * Sequence * Superface * Blockradar * Copperx * Crossmint * Hurupay * Para * CFi * Hinkal * Axelar Network These projects aim to cover use cases in lending, capital markets, FX, and payments.

Conclusion

The Arc Testnet is a valuable opportunity for users and institutions to explore the future of Web3. While interacting with the Testnet doesn't guarantee rewards, it offers valuable learning and experimental opportunities.

Risk Warning: This article represents only the author’s views and is provided for informational purposes only. It does not constitute investment advice, investment research, or a recommendation to trade, nor does it represent the stance of the Markets.com platform. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.

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