Arcade announces airdrop initiative, distributing ARCD tokens among holders of select NFT collections. Snapshot on Feb. 19 at 8:00pm UTC. Whitelist and public claim phases outlined.
A digital collectible lending platform known as Arcade has revealed plans to conduct an airdrop, distributing 3% of its total ARCD token supply to holders of specific NFT collections.
Through its recent announcement on Medium, Arcade introduced the "Clash of Clans" airdrop initiative, aiming to allocate ARCD tokens among 4,000 wallets. Each eligible wallet will have the opportunity to claim 750 ARCD tokens. The snapshot for this distribution is scheduled to occur on Feb. 19 at 8:00pm UTC, with token distribution divided into two phases: whitelist and public claim.
During the whitelist phase, Arcade intends to "randomly select" 2,000 wallets holding NFT collections like Pudgy Penguin, Lil Pudgy, or Sappy Seal at the time of the snapshot. The remaining 2,000 wallets will be chosen based on the successful linkage of Solana or Bitcoin wallets containing NFT collections such as Mad Lads, Tensorians, BTC Puppets, NodeMonkes, or RSIC, also at the time of the snapshot.
Although specific details regarding the random selection process have not been disclosed, Arcade has provided a 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 commencement of the public claim phase on the same day at 9:00 pm UTC. The public claim phase will remain open "until all remaining spots leftover" from the whitelist phase have been claimed, according to the blog announcement.
Arcade, previously known as Pawn.fi, serves as an 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. Additional investments came from Castle Island Ventures, Franklin Templeton Blockchain Fund, and Golden Tree Asset Management.