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. 

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

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