Drops DAO Announces Partnership with FODL

Drops DAO is excited to announce a partnership with FODL, which will support leveraged trading position NFTs as collateral on Drops Loans.

Non-fungible tokens representing financial positions are a rapidly-growing use case of NFT technology — and we’re delighted to be assisting with their integration into the wider world of decentralized finance.

About FODL

FODL is a platform that combines several money “legos” of the DeFi ecosystem — flash loans and collateral lending platforms, combined with proprietary position protection bots and cross-asset price indexing — to build a fully decentralized leverage trading platform.

FODL enables traders to utilize leverage for their trades without paying a funding rate. This leverage is derived from existing DeFi building blocks, Compound and Aave. In essence, traditional DeFi borrow/lend platforms are turned into money markets providing users with leverage by margining your assets to yourself.

The Partnership

The FODL partnership will enable users to take their FODL leveraged position NFTs and use them within Drops Loans as collateral. This will allow FODL users to borrow funds against their active trading positions, providing them with the capacity for additional utility and returns.

Financial position NFTs are typically easy to value and have great liquidity, making their integration into Drops both reliable and valuable to all.

About Drops DAO

Drops DAO provides loans for NFT and DeFi assets, supplying them with much-needed utility.

The protocol uses lending pools that enable any type of NFT asset to be used as collateral — from collectibles and metaverse items, to financial NFTs. Users can leverage their idle NFTs and DeFi tokens to obtain loans and earn extra yield.

Twitter

Discord

Telegram

Web

--

--

--

Instant loans for against NFTs https://drops.co

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Binance Coin Price Prediction: How High Will It Become In 2019?

Future of Fokawa

The NFT Market Destined to Get a DeFi Makeover; NFT Tech Is Leading the Disruption!

Security Tokens, Explained

Hashgard Bi-weekly Report(9.2–9.15)

Blind Boxes — NFT Art Contest Winners Announced

$150,000 Bounty Campaign: MTK

The cryptocurrency and Blockchain security pioneer Ledger has secured a $7M Series A funding led by…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Drops DAO

Drops DAO

Instant loans for against NFTs https://drops.co

More from Medium

How does Ethereum secure its network? PoW or PoS?

Preview: Drops DAO Weekly Newsletter: March 7–11

Monthly Jenny DAO Community Updates

Vera Partners With MetaBays, the World’s First Sail-to-Earn Game