Drops Loans is a decentralized protocol that allows users to trustlessly lend and borrow NFT-related assets. It is a fork of the popular and well-tested Compound Finance protocol, which sets interest rates algorithmically based on supply and demand.
Like Compound, Drops Loans is permissionless, allowing anyone to lend or borrow assets for as long as they wish.
Before you begin, you’ll need to ensure that you have a web 3.0 wallet such as Metamask, loaded with some Ether (ETH) to pay for transaction fees.
Last week has been exciting with the launch of Loans mainnet, we’re close to 1m in Total Value Locked.
The Drops team is pleased to announce that we have integrated Chainlink Price Feeds on Ethereum mainnet to support our NFT-focused DeFi ecosystem. By integrating Chainlink’s market-leading decentralized oracle network, Drops ensures that loans are accurately and securely priced against various cryptocurrencies or stablecoins. Our initial integration supports the following Chainlink Price Feeds on Ethereum: WBTC, ETH, USDC, ENJ, UMA and additional stablecoins.
We selected Chainlink because it’s the most widely-used and time-tested oracle solution in the blockchain industry, already securing tens of billions of dollars for leading DeFi projects. Chainlink Price Feeds source high-quality price data using decentralized oracle…
The Drops team is pleased to announce a partnership with Enjin to enable staking and borrowing by Drops users against Enjin-powered non-fungible tokens (NFTs) and in-game assets.
Enjin is a pioneer in the NFT space, having authored the ERC-1155 NFT standard and launched the first NFT minting platform, which features a unique token infusion mechanism that now powers billions of blockchain assets. Every NFT minted with the Enjin Platform is an ERC-1155 token infused with Enjin Coin (ENJ), giving the items real-world value, unique identities, and verifiable scarcity on Ethereum.
Drops is pleased to give new utility to Enjin-powered ERC-1155…
We’re delighted to announce that the Drops Loans protocol has been deployed on Ethereum mainnet!
You can find it at https://drops.co/loans/
The protocol was created with a focus on being the first widely-adopted platform for trustless borrowing against NFTs and NFT-related assets.
Although the Drops Loans protocol will begin by accepting governance tokens from prominent NFT projects, this is only the first step towards the larger objective. Within the year, we aim to offer permissionless loans against actual NFTs themselves.
As of launch time, Drops Loans has opened markets for Enjin Coin (ENJ), USD Coin (USDC), Wrapped Bitcoin (WBTC) and…
Drops is happy to officially announce a partnership with Parsiq, which will improve the communication of on-chain loan position information to Drops users.
Permissionless NFT lending with a use of NFT lending pools without fractions.
Exchange & Aggregator Listings:
Drops’ DOP Token has been listed on Jubi.
The Drops team is excited to announce a partnership with PARSIQ, which will improve the communication of on-chain loan position information to Drops users.
PARSIQ is a data and automation platform that connects activity on blockchains to traditional web 2.0 applications in the real-world, which already has more than 50,000 users.
Currently, a majority of DeFi projects require active monitoring and management of positions by their users. This can easily lead to forgotten collateral and loan positions, resulting in silent margin calls and avoidable liquidations.
Drops will be utilizing PARSIQ’s infrastructure to automate a reliable delivery of on-chain data directly…
Drops has announced its first batch of Content Creators. Upon completion of the task, our team will evaluate their work, and they might be invited to become one of our Ambassadors.
Final tests have been successful. Launch date will be announced soon.
Tests successful. Preparing for the launch on mainnet.
Tests completed. Live on mainnet.
Working on page responsiveness for veDOP staking.
Development requirements for Margin NFT with insurance pools.
Drops has got covered by Altcoin Buzz.
Drops (DOP): Combining DeFi and NFTs — Part 1 — Altcoin Projects — Altcoin Buzz
Exchange & Aggregator Listings:
Launch of the Drops Ambassador Program.
This past week alone, we got over 180 ambassador program submissions. The Drops Ambassador Program is still open.
We are getting close to launch. Prepared and submitted codebase for an audit.
Code has been frozen, frontend development is finished. Working on setting up liquidity mining program and listing assets.
Liquidation bot 98%
Bot is live on testnet, performing final tests.
veDOP token contracts 100%
Live on rinkeby. Passed all tests.
veDop UI integration 90%
Design has been updated to improve user experience. Working on implementing new interface.
Improvement of Margin NFT design with insurance mechanism.
AMA session with BlackDragon.
Topic: How Drops plan on revolutionizing the #NFTgame. https://research.blackdragon.io/portfolio/ama/drops-ama/
Development is keeping our team very busy lately — so we thought we’d take a minute to give the community an update on what we’re working on.
Here’s a roadmap for the rest of 2021, highlighting the expected developments and releases over the next several months. NFT-focused loans, fractionalization, Margin NFT and governance are all on the horizon, so keep your eyes peeled!
veDOP (DOP staking)
Vested escrow DOP (veDOP) will be issued to users who lock up their DOP tokens for set periods of time. veDOP tokens will boost mining APY, collect pool emissions and protocol fees.