Arcade, a lending platform catering to digital collectibles enthusiasts, has revealed its intention to conduct a substantial airdrop of ARCD tokens. This initiative aims to distribute 3% of the total ARCD token supply to holders of specific NFT collections.
In a recent announcement on Medium, Arcade introduced its “Clash of Clans” airdrop program, designed to allocate ARCD tokens among 4,000 eligible wallets. Each qualifying wallet will have the opportunity to claim 750 ARCD tokens.
The token distribution process will be executed in two phases: whitelist and public claim. During the whitelist phase, Arcade will randomly select 2,000 wallets holding NFT collections such as Pudgy Penguin, Lil Pudgy, or Sappy Seal at the time of the snapshot. The remaining 2,000 wallets will be chosen based on successful linkage of Solana or Bitcoin wallets containing NFT collections including Mad Lads, Tensorians, BTC Puppets, NodeMonkes, or RSIC.
While specific details regarding the selection process remain undisclosed, Arcade has outlined a clear timeline for participants. The Claim Raffle Whitelist phase will enable participants to claim tokens on Feb. 21 between 6:00 pm and 8:00 pm UTC, followed by the public claim phase starting at 9:00 pm UTC on the same day. The public claim phase will continue until all remaining spots from the whitelist phase have been claimed.
Formerly known as Pawn.fi, Arcade serves as an NFT platform where users can borrow funds against high-value digital collectibles. The platform gained significant traction in December 2021 after securing $15 million in a Series A funding round led by Pantera Capital, with additional investments from Castle Island Ventures, Franklin Templeton Blockchain Fund, and Golden Tree Asset Management.
