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.

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