Arcade Launches V3 on Mainnet

Arcade Launches V3 on Mainnet

NFT lending protocol Arcade launched V3 on ETH Mainnet, introducing non-upgradeable smart contracts and streamlining NFT collection offers.

The Deets

  • Collection Offers: Users can now make offers on single NFTs without using a Smart Vault.
  • Non-Upgradability: V3 features immutable smart contracts that cannot be modified.
  • On-Chain Whitelisting: New collections and tokens can be added without intermediary approval.
  • Additional Features: Gas fee optimizations, on-chain image hosting, and adjustable fee levers included.

The Bulk

Arcade, a platform facilitating NFT trades and lending, is entering a new era with its V3 upgrade on the ETH Mainnet. This upgrade focuses on non-upgradable, immutable smart contracts that bring an extra layer of security by eliminating centralized failure points.

One of the most significant features is the introduction of collection offers on non-vaulted assets. This feature allows users to make and accept offers on individual NFTs without depositing them into a Smart Vault first, thereby making the lending and borrowing process more fluid.

On-Chain Whitelisting is another highlight of this upgrade. Now, additional collections and tokens can be whitelisted on-chain, democratizing the process and allowing community members to have a say without needing approval from the Arcade team.

Further improvements in V3 include gas fee optimization, on-chain hosting for loan & vault NFT images, and the capability to delegate fees to either a wallet or the protocol itself, although fees are currently still set to zero.

💰 Money Talks

To date, Arcade V2 faciliated $120 million in lending...including the recent $1.1 million loan on Supreme t-shirts

🎤 Founder Feedback

Similar to V1 we found opportunities for improvement upon the V2 protocol, leading us to the creation of V3 & launch of the latest security focused immutable version.Arcade

🎬 Take Action

If you're a developer interested in what V3 has to offer, visit Arcade’s documentation to learn more. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.