Arcade, a lending platform for digital collectibles, has announced a unique airdrop initiative called “Clash of Clans” where they will be distributing 3% of the total supply of ARCD tokens to holders of specific NFT collections.
In a recent Medium blog post, Arcade revealed their plans to distribute ARCD tokens to 4,000 wallets, with each eligible wallet being able to claim 750 ARCD tokens. The snapshot for this airdrop will be taken on Feb. 19 at 8:00pm UTC, and the token distribution will be divided into 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 the successful linkage of Solana or Bitcoin wallets containing NFT collections including Mad Lads, Tensorians, BTC Puppets, NodeMonkes, or RSIC, also at the time of the snapshot.
While the specific details of 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 Feb. 21 between 6:00 pm and 8:00 pm UTC, followed by the public claim phase launching on the same day at 9:00 pm UTC. The public claim phase will remain open until all remaining spots from the whitelist phase have been claimed.
Arcade, previously known as Pawn.fi, is a platform where users can borrow funds against high-value digital collectibles. In December 2021, the platform successfully raised $15 million in a Series A funding round led by Pantera Capital, with investments from Castle Island Ventures, Franklin Templeton Blockchain Fund, and Golden Tree Asset Management.
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