Arcade Launches ArcadeDAO, ARCD Token
Arcade, a leading NFT lending protocol, decentralized the Arcade Protocol and governance with the launch of ArcadeDAO and the ARCD token today.
The Deets
- Arcade V3 is immutable and governed by the ArcadeDAO.
- ARCD, a new governance token, allows community participation in ArcadeDAO's decision-making.
- The first ARCD airdrop claim is live, targeting over 6,000 early adopters and community members.
- Ongoing ARCD airdrop distributions planned, with Level 1 details coming soon.
The Bulk
Arcade is doubling down on decentralization, announcing the launch of ArcadeDAO and the ARCD token. At the heart of this move lies the Arcade V3 protocol, which stands immutable with its parameters directed by the ArcadeDAO.
This initiative ensures that the protocol eliminates any central failure points and remains adaptable, aiming for long-term success. With its governance anchored within the ArcadeDAO, the Arcade Protocol is emblematic of a web3 ethos. The open-source nature of the project encourages builders and developers to contribute, leveraging its expansive user and liquidity base.
ARCD, the new governance token, will serve as a cornerstone, enabling a distributed community to participate actively in the decision-making processes. This involvement is tangible right from the start, with the first ARCD airdrop already live, reaching out to over 6,000 early adopters and community members. As for future distributions, Arcade teased "Levels," with Level 1 details set to be unveiled soon.
Looking forward, as ArcadeDAO embarks on its on-chain governance journey, the Arcade Protocol's reins are now handed over to the token holders. This shift in control underlines ArcadeDAO's intent to lead in NFT finance, protocol development, and the coordination of human and capital resources.
As part of the first token claim, ARCD tokens are not yet tradeable. In order to trade the tokens, a formal governance proposal will need to be submitted and approved by governance holders.
🎤 Platform Prose
As ArcadeDAO embarks on a journey towards on-chain governance, the Arcade Protocol is now in the hands of token holders.Arcade
🔜 What's Next?
Stay tuned for more updates on ArcadeDAO, which is on its way to becoming the premier P2P NFT lending protocol fully governed by an on-chain DAO.
🎬 Take Action
Users of the Arcade platform can check for a potential ARCD token claim now. Tokens are not yet tradeable.
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