After you cross the bridge, you can explore the eastern half of the island and visit the dungeons there.
As usual, you should go to the dungeons in this area and get the treasures within.
In the eastern half of the island, you may find the Traveling Merchant. You can only buy one thing from him before he moves on to another location. He tells you where to find him next. You can also go to the Clues menu to see where he will be next. His possible locations are marked with a shopping cart on the map. Find him four times and he will give you a special item. He gives you a free tunic the first time you find him. One of the things he sells is a Water Potion, which seems to always be the Runny Blue Potion in all seeds, so buy it from him if you need it for the trading sequence.
Status Effects Shop
In the eastern half of the island, you can find the Status Effects Shop. However, it's not yet open for business. To get it to open, you have to find the Strange Cave in the eastern half of the island, and talk to the person outside of it to get Tressa's number. Try calling Tressa, then talk to Paige to find out that Tressa is interested in finance. Go to the Guild LLC and talk to the person there, and give the security answers (Older brother: Potter, Younger brother: Tunley). You'll get Tressa's Mom's number. Call it, then leave and teleport to any dungeon and go inside. Tressa will appear. The Status Effects shop will be open from then on. You can buy potions and tunics, as well as use a potion to convert one of your tunics to that potion's effect.
Find the woodcutter in the eastern half of the map to get the Woodcutter's Axe. For more information about it, see the Special Items page.
You can find the Strange Cave in the eastern half of the map. Talk to the person outside and you can go into the cave for a challenge to survive all the waves of enemies. If you complete it, you get the Beta Cup and a Hallucination Tunic. For more information about the Beta Cup, see the special items page.