Morning Minute | Arcade Drops First NFTfi Token

Morning Minute | Arcade Drops First NFTfi Token

TylerD's Market Summary

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๐Ÿ’ฐ Arcade Launches Token, Begin Decentralization Journey

Airdrop April has been steamrolling along, with 3 airdrops landing yesterday from Parcl, Sharkyfi and Arcade.

While all 3 saw sell pressure on launch and dips as airdrop claimers sold, one has rebounded over 100% off the local bottom.


Let's look at why that may be happening.

What Happened?

Yesterday Arcade DAO's proposal to make its token $ARCD transferable passed and the token went live for trading.

This market the beginning of the decentralization journey for the Arcade protocol.

The team gamified the launch and included several rewards:

  • $ARCD rewards for dApp users
  • Time-locked variable staking rewards for holders who locked their airdrops for 30, 60 or 150 days
  • LP staking reward for those contributing ARCD/WETH to the pool

They announced that Level 2 "Hidden Level" points are live and borrowers are actively earning them, with 9 more total levels to come.

And they also teased a new Clash of Claims game coming for Base ecosystem participants.

Rewards in spades, primarily for core Arcade users but also for strong adjacent communities.

With the launch, the Arcade protocol is formally in the hands of the DAO.

ArcadeDAO will govern key functions via the $ARCD governance token such as:

  • Future distribution of $ARCD

  • Management of the Arcade Treasury

  • Supporting new collections

  • Critical protocol functions and parameters

  • Evolving the DAO and its governance powers


For those interested in going a level deeper on the tokenomics:

  • Total supply: 100M
  • Community: 50.5M (50.5%), split across the DAO treasury (25.5%), airdrop and rewards (15%) and Arcade Foundation (10%)
  • Arcade Development team: 16.6M (16.6%)
  • Advisors and Backers: 32.9M (32.9%)

Regarding the airdrop, qualifying actions included basic NFT lending activities such as listing NFTs, creating Smart Vaults, borrowing, lending, and placing bids.

Eligible users can claim their tokens here.

Why It Matters

Arcade is the first marquee NFT lending protocol to officially decentralize and launch a token.

They've done over $200M in lifetime loan volume and have seen their active user count and weekly loan count grow consistently over time.

Their smart vault technology is a key differentiator of theirs, allowing users to store their NFTs in a vault and be able to claim any airdrops that register while their NFT is locked in a loan - a huge feature in this airdrop meta.

They have active plans to expand from ETH mainnet to other EVM chains (i.e. Base) and are actively building towards an Ordinals launch on Bitcoin.

In summary, they are one of the most innovative NFT lending protocols in the entire space.

And now they've decentralized, meaning anyone can help govern and shape the future of the protocol.

It's a big deal. 

So jump in and have your voice be heard as this new journey begins.

๐Ÿšš What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • Bitcoin led NFT trading volume with $17M on the day (-5%); ETH was next with $7.3M (+3%) and then Solana with $4.8M (+20%)
  • Runestone led the BTC NFT board again and jumped 5% to 0.082 BTC; Rune Pups jumped 15% to 0.14 and new project Ailu soared to 0.04
  • most Ordinals leaders fell 10-15%
  • Bitcoin Wizards were a winner on the day following soaring $WZRD, briefly reaching 0.36 BTC before retracing to 0.3
  • Memeland announced Runecoin as its first premiere Stakeland project, enabling users to go on quests to earn tokens; RSIC jumped 30% to 0.078 on the news
  • Runevo minted out and announced it will release mobile-first runes tooling, will announce its prior investors soon and will convert the NFTs into Runes tokens post-halving (NFTs +150% from mint to 0.0077)
  • Magic Eden added collection offers to Ordinals, a new feature for Bitcoin NFT trading
  • ETH NFT leaders were mixed with BAYC and MAYC up 1% but Milady (-3%) and Pudgy (-1%) down
  • Treeverse and alignDRAW were notable winners, each jumping 35%
  • Yuga Labs gaming announced Kodamara fusion will begin on Thursday, April 18, along with cementing Ape Fest dates as Oct 18-20 in Lisbon
  • Solana NFTs were mostly red on the day; Mad Lads -3% at 125 SOL, Tensorians -1% at 17, Jeo Bodens -14% to 6 SOL
  • Deca launched "Leaderboards," allowing artists to easily highlight their top 250 collectors and partnering with Grant Yun on launch

๐Ÿ’ฐ Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

๐ŸŒŽ Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

๐Ÿš€ Memecoin Movers 

  • $SC (+55%, $85M market cap, Base)
  • $TOOKER (+34%, $77M market cap, Solana)
  • $BODEN (+24%, $440M market cap, Solana)
  • $PUPS (+24%, $450M market cap, BTC)
  • $DEGEN (+20%, $350M market cap, Base)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • Supreme Kong (52%, 0.38 ETH Floor)
  • Treeverse (37%, 0.4 ETH)
  • alignDRAW (35%, 1.6 ETH)
  • DeFi Apes (30%, 0.39 ETH)
  • Defimons (25%, 0.3 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is another busy day of drops and token launches. 

OMNI is launching this morning, going live for trading on Binance at 8 am ET.

Ordinals have another laundry list of drops today, likely highlighted by Gumbo World - but with many to choose from.

And a few Base launches as well, including Base Boomers.

See the full list and dive in for more details with Swizzy's daily mint monitor

  • $OMNI (8:00 a.m. ET)
  • Ordinal Rugs (9:30 a.m. ET)
  • Bitdogs (10:00 a.m. ET)
  • Memes by 6529 (11:00 a.m. ET)
  • Gumbo World (11:00 a.m. ET)
  • Base Boomers (1:00 p.m. ET)
  • Travis Leroy - The Revenant (5:30 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to

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.