The DeFi protocol Arcade, operating on the Ethereum base and specializing in NFT lending, has announced the imminent release of its ARCD tokens, scheduled for next week. On February 21st, 4,000 owners of certain NFT collections and Bitcoin Ordinals, actively used as collateral in Arcade, will receive 750 ARCD tokens each. The recipients will be randomly selected among owners of Ethereum-based NFTs such as Pudgy Penguins, Lil Pudgys, Sappy Seals, as well as owners of Solana-based NFTs Mad Lads and Tensorians, and Bitcoin Ordinals, including Bitcoin Puppets and NodeMonkes. To participate in the giveaway, wallets containing these NFTs will be randomly selected and whitelisted, with 2,000 wallets from each category.

The snapshot for the giveaway was taken two days before the start, on February 19th, however, residents of some countries, including the USA, were unable to participate. Despite the initial focus on Ethereum, Arcade co-founder Robert Masiello expressed the intention to expand the protocol's activity to the Solana and Bitcoin networks, emphasizing the importance of integrating and supporting relevant NFT collections.

Winners of the draw will be able to claim their ARCD tokens on February 21st during a two-hour window starting at 1:00 PM Eastern Standard Time. Any unclaimed tokens after this period will become available to other NFT and Ordinals holders in a queue. Initially, it was planned that all 3 million ARCD tokens would be distributed under this model, but in response to community feedback, Arcade decided to adapt its strategy, aiming for a fairer and more inclusive approach.

Currently, ARCD is locked to prevent its transfer or sale until it is unlocked, allowing it to be used for voting on governance in ArcadeDAO. With a total token supply of 100 million, the upcoming airdrop will increase the number of tokens in circulation to approximately 6.5 million. Masiello confirmed that ArcadeDAO is preparing for the unlocking of ARCD and its subsequent sale, hinting at the imminent realization of these plans.

The upcoming ARCD token giveaway is part of Arcade's strategy to expand its influence beyond Ethereum, including the Solana and Bitcoin networks, aimed at encouraging community participation and supporting selected NFT collections. Changes in the giveaway plans reflect Arcade's commitment to fairness and inclusivity in its initiatives.