Arcade, a startup in the NFT lending space backed by Pantera Capital, announces a generous airdrop of 3 million ARCD tokens.
Arcade, a lending platform for digital collectibles, has announced its plans to airdrop 3% of the total supply of ARCD tokens to holders of select NFT collections. The initiative, called “Clash of Clans,” aims to distribute ARCD tokens among 4,000 wallets, with each wallet eligible to claim 750 ARCD tokens. The token distribution will be divided into two phases: whitelist and public claim.
During the whitelist phase, Arcade will randomly select 2,000 wallets at the time of the snapshot. These wallets must hold NFT collections such as Pudgy Penguin, Lil Pudgy, or Sappy Seal. The remaining 2,000 wallets will be chosen based on the successful linkage of Solana or Bitcoin wallets containing NFT collections including Mad Lads, Tensorians, BTC Puppets, NodeMonkes, or RSIC.
Although specific details about the random selection process have not been disclosed, Arcade has provided a timeline for participants. The Claim Raffle Whitelist phase will allow participants to claim tokens on February 21 between 6:00 pm and 8:00 pm UTC. The public claim phase will then begin on the same day at 9:00 pm UTC and will remain open until all remaining spots from the whitelist phase have been claimed.
Arcade, formerly known as Pawn.fi, is a popular NFT platform where users can borrow funds against blue-chip digital collectibles. In December 2021, the platform successfully raised $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.
