Market downturn, but don't lie flat.
Written by: KarenZ, Foresight News
It has been three weeks since Circle's Layer 1 blockchain Arc launched its testnet. Unlike many Layer 2 solutions, Arc positions itself as "the economic operating system of the internet." Its biggest advantage is the direct use of USDC as gas fees, meaning users and institutions do not need to hold ETH or other volatile tokens to perform on-chain operations.
In addition, Arc is EVM compatible, offering configurable privacy options to support compliance requirements, and is directly integrated with Circle's full-stack platform, suitable for applications in lending, capital markets, foreign exchange, and payments.
More critically, as an EVM-compatible chain built by stablecoin giant Circle, Arc boasts two core barriers: on one hand, it is backed by the TradFi resources accumulated by Circle, and on the other hand, it relies on the vast liquidity pool of USDC. This makes it highly likely to become a core battleground for RWA (real-world assets) and enterprise-level applications in the future, gaining a first-mover advantage in the institutional blockchain application field.
On the day of the Q3 financial report release, Circle also revealed that it is currently exploring the possibility of launching a native token on Arc. Currently, Arc is in the public testnet phase, which is a window for users to experience features early and seize potential ecological opportunities. It is important to note that interactions on the testnet do not necessarily guarantee subsequent returns; participants are advised to engage with a mindset of learning and experience, and to view airdrop opportunities rationally.
Here are the summarized 8 interaction steps, covering basic configuration, contract deployment, token exchange, and NFT minting operations.
Arc Interaction Guide:
Add Arc testnet network: https://testnet.arcscan.app/
Claim USDC or EURC test tokens: https://faucet.circle.com/
Locate Arc testnet on OnChainGM, send GM interaction and deploy contracts; both operations require wallet signatures: https://onchaingm.com/deploy
Send GM on zkCodex, deploy simple contracts, token contracts, NFT contracts, and mint commemorative NFTs: https://zkcodex.com/onchain/gm
Deploy NFT series on OmniHub (requires uploading images, confirming names, etc.): https://omnihub.xyz/create
Exchange USDC for WUSDC on Curve in the Arc testnet, add USDC/EURC liquidity: https://www.curve.finance/dex/arc/swap/
Mint Genesis Pass NFT after following the official Twitter and joining the project Discord server on Arc's native DEX ArcFlow Finance.
Register a domain name on InfinityName: https://infinityname.com/
It is worth mentioning that Arc previously announced the first batch of 11 projects built on the public testnet, including: the ZK-proof supported P2P fiat channel project ZKP2P, the universal crypto trading platform Sequence, the smart agent solution interconnection platform Superface, the stablecoin wallet infrastructure Blockradar, the stablecoin banking service Copperx, the crypto API development company Crossmint, the cross-border fund transfer and management program Hurupay, the wallet infrastructure Para, the personalized finance platform CFi, the zero-knowledge proof-based wallet Hinkal, and the cross-chain infrastructure Axelar Network.
These projects will implement use cases in lending, capital markets, foreign exchange, payments, and more on Arc. However, the specific construction progress of most projects has not yet been disclosed.
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