Arcade V3 Protocol Launch

The Arcade V3 protocol is now live on ETH Mainnet. This version of the Arcade Protocol is an immutable set of smart contracts that cannot be upgraded or modified on-chain. Making V3 immutable reduces centralized points of failure and ensures perpetual permissionless access to the protocol for users.

New Features & Upgrades:

• Collection-wide loan offers on non-vaulted assets
• A non upgradable, immutable protocol
• Optimizations for decentralization, capital efficiency, and composability, audited by Trail of Bits and Omniscia
• On-Chain Whitelisting for Collections & Payable Tokens
• On-Chain Hosting for Arcade Loan & Vault NFT Images
• Customizable Fee Structure

Evolution of the Protocol — V1 to V3

Arcade’s V1 protocol launched in February 2022, as a test case for NFT owners and lenders, providing liquidity for otherwise illiquid assets. In six months, V1 had facilitated over $15m in loans. During the time V1 was gaining momentum, the team was concurrently developing the subsequent and improved version — Arcade V2 — which launched six months later in August 2022.

V2 introduced innovative Arcade specific features including instant liquidity, airdrop-safe loans, and collection-wide lender offers. It was built on a highly adaptable architecture, where loans on the NFTs are represented by NFTs themselves. To date Arcade V2 has done over $120m in volume and similar to V1 we found opportunities for improvement upon the V2 protocol, leading us to the creation of V3 & launch of the latest security focused immutable version.

Here are the current list of upgrades and features of V3:

Here are the main upgrades and features of the V3:

Launch Details

The Arcade V3 smart contracts have been deployed to Mainnet; additionally, V3 has been deployed to Goerli testnets, giving developers an environment to experiment with the protocol information about these contracts can be found in the link below.

V3 went live on 06/09/2023 at (4:30AM UTC)
- V3 Mainnet contracts: https://docs.arcade.xyz/docs/mainnet-contract-addresses
- V3 Testnet contracts: https://docs.arcade.xyz/docs/testnet-contract-addresses

Concerning Active V2 Loans

Even though V3 has launched you are not required to migrate your V2 assets if you do not wish to. The V2 contracts are always running and will remain accessible in the future.

The protocol was deployed in the dApp to provide a seamless way to extend loans from V2 to V3. Lenders can now make offers that would roll any active loan over to V3, using Arcade’s rollover mechanism. When the borrower chooses to accept the rollover over, the V2 loan will be repaid and the new loan will be minted on the V3 protocol. Starting today all new loans will be minted on V3.

Audits and Bug Bounties

Arcade’s top priority is always security. The V3 protocol has been thoroughly tested by internal and external parties to ensure the integrity of the code:

• The Arcade V3 Protocol has been audited by Trail of Bits and Omniscia. Previous protocol versions have been audited by 0xMacro, Quantstamp, and Least Authority.
• The Arcade Protocol has an ongoing & active bug bounty program with Immunefi which can be found here: https://immunefi.com/bounty/arcade/

🔨 Ready to build?

For all builders, teams, and developers ready to build on the Protocol, you can access the docs and protocol code on Github. Link to the Arcade docs: https://docs.arcade.xyz/docs/mainnet-contract-addresses

The team welcomes all feedback and involvement from our community. Reach us via Discord: http://discord.gg/arcadexyz

This is a living document expect further updates, additional information, & additional documentation over the coming weeks.