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