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Digital collectibles lending platform Arcade will release 3% of the total supply of ARCD tokens to holders of select nft collections.
In a medium blog, Arcade unveiled its “Clash of Clans” airdrop initiative, aiming to distribute ARCD tokens across 4,000 wallets, each eligible to claim 750 ARCD tokens. On February 19 at 8:00 pm UTC, the team will take a snapshot, with the token distribution divided into two phases: whitelist and public claim.
During the whitelist phase, Arcade plans to “randomly select” 2,000 wallets at snapshot time, with collections of NFTs such as Pudgy Penguin, Lil Pudgy or Sappy Seal. The remaining 2,000 wallets will be chosen based on the successful linking 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 specific details about the random selection process remain undisclosed, Arcade outlined the timeline for participants. The whitelist phase of the claim raffle will allow participants to claim tokens on February 21 between 6:00 pm and 8:00 pm UTC, followed by the launch of the public claim phase on the same day at 9:00 pm: 00 pm UTC. The public claim phase will remain open “until all remaining spots” from the whitelist phase have been claimed, the blog announcement reads.
Arcade, formerly known as Pawn.fi, is an nft platform where users can borrow funds against top-of-the-line digital collectibles. In December 2021, the platform successfully achieved got 15 million dollars 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.
