NFT lending protocol Arcade.xyz announces launch of AracdeDAO and governance token ARCD

NFT lending protocol Arcade.xyz has announced the launch of its decentralized autonomous organization, ArcadeDAO, and governance token, ARCD.

ARCD allows community participation in ArcadeDAO decision-making. Arcade has stated that the first batch of ARCD airdrops for over 6,000 early users and community members is now available. It should be noted that ARCD tokens are non-transferable and require governance proposals to be transferred.

With the implementation of on-chain governance by ArcadeDAO, control of the Arcade protocol has now been transferred to token holders, with the aim of becoming a fully on-chain DAO-managed P2P NFT lending protocol.