Wednesday, November 30, 2022
HomeCryptoTutorial: Earning NFTs by participating in the Arbitrum Odyssey program

Tutorial: Earning NFTs by participating in the Arbitrum Odyssey program

Join the Odyssey – Arbitrum is a second layer solution evolving on top ofEthereum. It has just launched its Odyssey program, which aims to familiarize users with its application ecosystem. The goal is simple and fun: encourage users to test Arbitrum protocols with rewards, such as NFTs.

Introducing Arbitrum

Before going into the details of the program Arbitrum Odyssey and steps to perform, let’s briefly return to Arbitrum.

Arbitration is a second layer solution evolving above the Ethereum network, launched in September 2021. This is based on the technology of Optimistic Rollup.

Without going into detail, Rollups make it possible to deport transactions outside the Ethereum main chain. However, these ecosystems inherit the security of Ethereum by publishing all transactions on the Ethereum blockchain. These transactions are released as compressed batches, to reduce their impact on the mainnet. This allows anyone to verify the validity of transactions that have taken place on Arbitrum.

Arbitrum is currently Ethereum’s most popular second layer solution. Indeed, it accounts for no less than 1.7 million ETH deposited through all of its protocols.

Evolution of the TVL in ETH of the Arbitrum network.

To date, the network has around a hundred protocols, among which we find DeFi leaders such as Curve, Uniswap and Aave.

> Your first bitcoins in a few minutes? Sign up on Binance (affiliate link)<<

Arbitrum Odyssey: a guided tour of the ecosystem

In April 2022, Arbitrum announced the preparation of a program entitled Arbitrum Odyssey. Its objective is simple: create a fun path allowing users to familiarize themselves with the Arbitrum ecosystem.

In addition, to make the program fun, Arbitrum has provided rewards for users taking part in Odyssey. Thus, they can get 17 exclusive NFTsmade by artists Ratwell and Sugoi.

“We are excited to announce a collaboration with Ratwell, Sugoi and Project Galaxy, to invite users to explore different parts of the Arbitrum ecosystem – from DeFi to NFTs and games!”

Overall, the program will take place over 2 monthswith each week a series of actions to perform on various ecosystem protocols.

What’s more, the most regular users will be granted additional rewards at the end of the program:

“At the end, any user who has collected at least 12 of the 15 NFTs will receive the most exclusive arbi-verse NFT, designed by Ratwell and Sugoi.”

To follow the progress of each step, we invite you to follow the Arbitrum Twitter account. Each week, the teams will publish there the different actions as well as the protocols with which to interact to obtain the precious NFTs.

Good news, the program starts today, Tuesday, June 21!

Arbitrum announces the launch of Arbitrum Odyssey.
Arbitrum announces the launch of Arbitrum Odyssey.

Governance tokens at stake?

Allow us a little speculation. At this time, the Arbitrum project has not made any official announcement regarding the creation of a governance token or any other token.

However, some information may suggest that this is not impossible. Thus, after the release of the second layer governance token Optimism, the CEO of Offchain Labs, the company behind Arbitrum tweeted:

“The appetizer is always served before the main course.”

Tweet posted by the CEO of Arbitrum.
Tweet posted by the CEO of Arbitrum.

By therefore, although it is only speculation, it is not impossible that Arbitrum will unveil a governance token one day. Participating in all stages of the Odyssey program could well increase the chances of being eligible for a potential airdrop, if there were one. As we often say: “who tries nothing, has nothing”.

Week 1: Bridges Week

The Arbitrum Odyssey program has just been launched with the “Bridgeweek”. For this first week, Arbitrum starts from the beginning by focusing on bridgesthese tools that allow you to send funds from one channel to another.

To participate, users must send ETH to Arbitrum using one of the following bridges or centralized exchanges:

  • HopProtocol;
  • AcrossProtocol;
  • Transak;
  • Multichain;
  • CryptoRubic;
  • Li-Fi Protocol;
  • ComposableEnd;
  • Celer Network;
  • DeGateDex;
  • HashFlow;
  • MtPelerin;
  • RangoExchange;
  • Connect Network;
  • Varen Finance;
  • Banxa Official;
  • Bungee Exchange;
  • TheBoringDAO;
  • Router Protocol;
  • from Bridge Finance.
List of bridges eligible for Bridge Week.
List of bridges eligible for Bridge Week.

In addition, users who opted for the bridge most used by the community will be assigned a Bonus NFTs.

Which bridge to use to maximize your chances of getting the NFT Bonus?

We are lucky, Arbitrum helped us a little to decide which bridge to choose to get the bonus NFT. Thus, they published a survey on their Discord server, asking users which bridge they will favor.

Fortunately for us, @monte_xyz did a lot of work for us by revealing the results of the poll on Twitter. Thus, the result of the survey gives the following bridges:

  • Hop Protocol;
  • Multichain;
  • Login

Example with Hop Protocol

As he is the big winner of the survey, we will see together how transfer ETH to Arbitrum using Hop Protocol.

To do this, you will first need to hold ETH on one of the following blockchains or L2s:

  • Ethereum;
  • Polygon;
  • Gnosis;
  • Optimism.

In our case, we will start from Ethereum.

First, you should go to the Hop Protocol official website. Once on the site, check that you are in the “Send” section.

Hop menu send.

Connect your wallet by clicking on the “Connect” button at the top right of the screen.

Connect your wallet to Hop.

Select the asset to send, here ETH.

Select asset to send.

Choose the network where the funds are currently stored, in our case we will choose Ethereum. Then select Arbitrum as the fund receiving network. Also indicate the amount of ETH to send. We advise you not to send too few funds, as these will allow you to carry out each week the actions necessary to participate in the Odyssey program.

Fill in the departure and arrival network as well as the amount.

Once all of these fields have been properly filled in, you can click on the “Send” button to complete the transfer.

Run the transfer.

Once the “Send” button has been clicked, all you have to do is confirm and sign the transaction in your wallet. There you go, the transaction has been sent and the funds are being transferred to Arbitrum.

Confirmation of transfer.

These can be retrieved from the same address as the one that initiated the transfer, you just need to configure the Arbitrum network in your wallet.

Add Arbitrum to Metamask

To add the network Arbitrum in Metamaskyou will need to configure a new network by entering the following information:

Program for the next few weeks of Arbitrum Odyssey

Every week you can get Additional NFTs by performing two actions on two protocols from the long list of protocols participating in the program.

“Once Bridge Week is over, you will be able to complete 2 separate tasks of 2 projects each week! More details on each week will come as the Arbitrum Odyssey program progresses.”

In theory, the protocols that should be used each week should be:

  • 1: Bridge Week;
  • 2: yield, hashflow;
  • 3: AboardExchange, TofuNFT;
  • 4: Uniswap, OfficialApeXdex;
  • 5: 1inch, Izumi Finance;
  • 6: BreederDodo, SwaprEth;
  • 7: Treasure_DAO, BattleFlyGame;
  • 8: Ideamarket, SushiSwap.

To not miss any week and validate the protocols to use, we invite you once again to stay connected on the Arbitrum Twitter.

Obviously, it’s not the Journal du Coin’s style to let you down! We will come back each week with a dedicated article to explain all the actions to be carried out, week after week, to maximize your chances of getting the Arbitrum Odyssey NFTs.

You have the right to understand nothing about the NFT trend. On the other hand, not being interested in Bitcoin is unforgivable! Don’t wait any longer to prepare for the future by going to register on the Binance platform, THE absolute reference of the sector (affiliate link).



Please enter your comment!
Please enter your name here

Most Popular