Bear Market Task: A Comprehensive Guide to Early Interactions in Circle Arc

Author: KarenZ, Foresight News

Three weeks have passed since Circle's Layer 1 blockchain, Arc, launched its testnet. Unlike many Layer 2 blockchains, Arc positions itself as an "economic operating system for the internet." Its biggest advantage lies in directly using USDC as the gas fee, meaning that users and institutions can conduct on-chain operations without holding ETH or other volatile tokens.

In addition, Arc is EVM compatible, offers configurable privacy options to support compliance requirements, and integrates directly with Circle's full-stack platform, making it suitable for applications such as lending, capital markets, foreign exchange, and payments.

More importantly, as an EVM-compatible chain built by stablecoin giant Circle, Arc possesses two core advantages: on the one hand, it is backed by the TradFi resources accumulated by Circle, and on the other hand, it relies on the massive liquidity pool of USDC. This makes it highly likely to become a core platform for the implementation of RWA (Real-World Asset) and enterprise-level applications in the future, giving it a first-mover advantage in the field of institutional blockchain applications.

On the day of its Q3 earnings release, Circle also revealed that it is exploring the possibility of launching a native token on Arc. Arc is currently in its public testnet phase, a window of opportunity for users to experience features early and explore potential ecosystem opportunities. It's important to note that testnet interaction does not necessarily guarantee subsequent rewards; users are advised to participate with a learning and experiential mindset and to view airdrop opportunities rationally.

The following are the eight interactive steps, covering basic configuration, contract deployment, token exchange, and NFT minting.

Arc Interaction Guide

1. Add the Arc testnet network: https://testnet.arcscan.app/

2. Claim your USDC or EURC test tokens: https://faucet.circle.com/

3. Locate the Arc testnet on OnChainGM, send the GM interaction and deploy the contract. Both operations require wallet signing: https://onchaingm.com/deploy

4. Send GM on zkCodex to deploy simple contracts, token contracts, NFT contracts, and mint commemorative NFTs: https://zkcodex.com/onchain/gm

5. Deploy the NFT series on OmniHub (requires uploading images, confirming names, etc.): https://omnihub.xyz/create

6. Exchange USDC for WUSDC on the Arc testnet on Curve and add USDC/EURC liquidity: https://www.curve.finance/dex/arc/swap/

7. After following the official Twitter account and joining the project's Discord server on ArcFlow Finance, a native DEX in the Arc ecosystem, mint the Genesis Pass NFT.

8. Register a domain name with InfinityName: https://infinityname.com/

It's worth noting that Arc previously announced the first batch of 11 projects built on its public testnet, including: ZKP2P, a P2P fiat currency channel project powered by ZK proofs; Sequence, a general-purpose crypto trading platform; Superface, an interconnected platform for smart agent solutions; Blockradar, a stablecoin wallet infrastructure; Copperx, a stablecoin banking service; Crossmint, a crypto API development company; Hurupay, a cross-border fund transfer and management program; Para, a wallet infrastructure; CFi, a personalized finance platform; Hinkal, a wallet based on zero-knowledge proofs; and Axelar Network, a cross-chain infrastructure.

These projects will implement use cases in areas such as lending, capital markets, foreign exchange, and payments on Arc. However, the specific development progress of most projects has not yet been disclosed.