Arcade Announces Next Airdrop of ARCD Tokens for NFT Holders
Arcade, the popular Ethereum-based DeFi protocol for NFT lending, has revealed the launch of its upcoming airdrop of the native ARCD token. This airdrop is set to take place on February 21, with bundles of 750 ARCD tokens being distributed to 4,000 lucky holders of select NFT and Bitcoin Ordinals collections used as collateral on Arcade.
The airdrop is open to around 2,000 wallets holding Ethereum-based NFTs such as Pudgy Penguins, Lil Pudgys, and Sappy Seals. Additionally, another 2,000 wallets with Solana-based NFTs like Mad Lads and Tensorians, or Bitcoin-inscribed Ordinals including Bitcoin Puppets, NodeMonkes, and RSIC, will be considered for the whitelist. The selection for the airdrop whitelist will be done randomly, ensuring that all holders have a fair chance to participate.
The snapshot for the airdrop will occur on February 19, allowing Arcade to determine the eligible wallets. However, it's important to note that users from certain countries, including the United States, will not be able to participate in the airdrop.
Although Arcade predominantly operates on the Ethereum platform, co-founder Robert Masiello expressed the company's intention to extend its reach to both Solana and Bitcoin platforms through this airdrop. This demonstrates Arcade's commitment to diversify its offerings and cater to a wider range of users.
For the participants who make it onto the whitelist, a two-hour window will be provided on February 21, starting at 1 pm EST, allowing them to claim their ARCD tokens. After this initial allocation, any unclaimed spots in the 4,000-wallet airdrop will become available on a competitive first-come, first-served basis. This event, known as "Clash of Claims," will enable any holder of the specified NFTs and Ordinals to vie for the remaining ARCD tokens.
Originally, the entire 3 million ARCD airdrop was planned to operate under the competitive model. However, the team at Arcade listened to community feedback and decided to adjust the mechanism to address concerns about potential disadvantages for slower claimants.
Currently, the ARCD token is non-transferable and can only be used for governance votes within ArcadeDAO. The purpose of the airdrop is to increase the circulating supply of ARCD, paving the way for its eventual unlocking and sale on secondary markets. The specific details and timelines for this unlocking are still under discussion within ArcadeDAO.
Overall, Arcade's next airdrop of ARCD tokens presents an exciting opportunity for NFT holders to participate in the protocol's governance and contribute to its growing ecosystem.
Analyst comment
Positive news: Arcade, an Ethereum-based DeFi protocol, announced its next airdrop of ARCD tokens for NFT holders. This signifies Arcade’s intention to broaden its presence on Solana and Bitcoin platforms. The airdrop aims to increase ARCD’s circulating supply and pave the way for its eventual unlocking and sale on secondary markets. The mechanism for claiming ARCD tokens has been adjusted to address community feedback. Market outlook: The airdrop may generate increased interest and activity in the NFT market, benefiting both Ethereum and Solana.
