TechFlow News: NFT lending protocol Arcade.xyz has announced the launch of its decentralized autonomous organization, ArcadeDAO, and governance token ARCD.
ARCD enables community participation in decision-making for ArcadeDAO. Arcade stated that the first round of ARCD airdrop claims is now live, targeting over 6,000 early users and community members. It should be noted that ARCD tokens will initially be non-transferable and require a governance proposal to enable transferability.
With the implementation of on-chain governance through ArcadeDAO, control of the Arcade protocol has now been transferred to token holders, aiming to become a fully on-chain DAO-governed peer-to-peer NFT lending protocol.
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