What is Arbitrum Odyssey?

What is Arbitrum Odyssey?

The Arbitrum Odyssey begins in less than a month. Before we dive into what the Odyssey is and how you can best prepare to participate (and earn some exclusive Arbitrum NFTs), let’s go over what the Arbitrum blockchain is all about.

What is Arbitrum?

Arbitrum is a Layer 2 (L2) optimistic rollup scaling solution built on top of Ethereum that offers a unique combination of benefits:

  • Security: Arbitrum security is rooted in Ethereum
  • Compatibility with Ethereum: Arbitrum runs an unmodified EVM (Ethereum Virtual Machine), therefore any dApp running on Ethereum can run on Arbitrum as well
  • Scalability: Arbitrum can achieve much higher transaction throughput than Ethereum mainnet
  • Low transaction fees: Through minimizing the L1 gas footprint, Arbitrum minimizes the transaction costs – you can find current gas fees here

These benefits make Arbitrum one of the most popular L2 blockchains in Web3. There are hundreds of dApps building on top of Arbitrum, with more than 1.3M ETH worth of assets bridged over to the network and just under 300,000 unique wallets having transferred their assets over to Arbitrum from other chains.

To engage an even broader community, Offchain Labs, the team behind Arbitrum, decided to launch an 8 week long event called Arbitrum Odyssey.

Arbitrum Odyssey Explained

During this event, users will get to explore (while being incentivized) everything Arbitrum and Web3 have to offer – from decentralized exchanges to on-chain NFT games. The 8 week long journey is slated to begin mid-June. Each week, there will be a set of tasks participants need to successfully complete in order to earn an NFT. In total, participants will be able to earn 15 NFTs. Upon conclusion of the Odyssey, any user who has collected at least 12 of the 15 NFTs will receive the most exclusive and final Arbi-verse NFT.

The Arbitrum community voted and chose 14 projects to be involved in the Odyssey. These selected projects will be creating special missions that suit their product to allow participants to experience their offerings to the fullest, while working to earn their NFTs.

How to Get Free NFTs from Arbitrum Odyssey

To get free NFTs, you’ll have to interact with the Arbitrum network. This can be done through Steakwallet, which is a self-custodial Web3 mobile wallet that supports the network and allows you to connect to any dApp through WalletConnect. To get funds into your wallet, you can  import another wallet or use the fiat on-ramp within the wallet and then bridge your funds to the Arbitrum network.

Week 1 will be the onboarding week – during this time, people will bridge their funds to Arbitrum via the supported bridges. The participants that utilize the bridge that sees the most traction (based upon number of addresses) will receive a bonus NFT.

What Protocols Are Part of Arbitrum Odyssey?

The remaining 7 weeks will be dedicated to dApps on Arbitrum. Each week will highlight two protocols, with each dApp having its own task.

Week 2: Yield Protocol and Hashflow

Week 3: Aboard Exchange and TofuNFT

Week 4: Uniswap and Apex

Week 5: 1inch and Izumi/Yin Finance

Week 6: Dodo and Swapr

Week 7: TreasureDAO and Battlefly

Week 8: Ideamarket and Sushi

After completing each task, you will be able to claim NFTs on Galaxy Project’s website. The mint will be free; however, you will need some ETH to pay for the transaction costs – at the moment, the average transaction cost on Arbitrum is around $0.30 USD.

Conclusion

Stay tuned for Arbitrum to announce the launch of the Odyssey event – participation is a can’t miss to learn more about what is possible within the ecosystem… and to earn some pretty cool NFTs in the process!

FAQs

How many NFTs can I get from Arbitrum Odyssey?

In total, there will be 15 NFTs to claim (one after each of the tasks is complete). Those who earn at least 12 NFTs by the end of the event will receive a special 16th NFT. The Arbitrum team did tease us with a 17th one, but there is no real information revealed about it at the moment.

How long does Arbitrum Odyssey go on for?

Currently, there is no exact date for the start of the Odyssey but it is slated to go live mid-June. After the launch, it will last for 8 weeks.


More on Steakwallet

Steakwallet is a next generation multi-chain self-custodial Web3 wallet on mobile. Our goal is to give users one place to manage all their assets across chains and make engaging with Web3 as easy as never before. To achieve this, Steakwallet brings critical functionality natively into the app where we abstract away backend complexity and add market leading user experience. This includes Steakwallet’s signature 3-tap staking flows, which make participating in securing blockchain networks and earning yield as simple as ordering an Uber or a pizza. With our Explore Screen, Steakwallet allows you to find all the right dApps on any chain. With one simple tap via WalletConnect, you can now easily bridge, swap, and ape into any yield opportunity right from your phone. And with multi-chain NFT support, you can collect all of your favorite NFTs in one place and even set them as your background for to easily flex your collection. Now this is what a Web 3 wallet should look like!

Core Steakwallet Features

  • Your keys = your crypto
  • Multi-chain by default
  • Native staking flows
  • Discover the best of each chain on our Explore Screen
  • Best rates
  • Mobile-first

Come hang – join the Steakwallet community on Discord and follow Steakwallet on Twitter for all updates!