NFT lending protocol Arcade.xyz announced the launch of the decentralized autonomous organization AracdeDAO and the governance token ARCD.
ARCD allows the community to participate in ArcadeDAO’s decision-making. Aracde stated that the first batch of ARCD airdrop applications has been online, and this airdrop is targeted at more than 6,000 early users and community members. With ArcadeDAO implementing on-chain governance, control of the Arcade protocol is now handed over to token holders, aiming to become a P2P NFT lending protocol fully managed by an on-chain DAO.