The community represents the heart and soul of Drops DAO. We’re now focusing on bringing people into our community that share this mindset, and we’ve designed incentivization mechanisms to complement this strategy.
Today, our team would like to officially announce the launch of our brand new ambassador program!
To find out more about the program and how you can apply for a chance to become an ambassador, check out the details below.
Ambassador NFTs
Every NFT lending pool active on the Drops platform will be able to support a few ambassadors who are elected from within their respective communities.
As an exclusive perk, all ambassadors will receive their very own “Ambassador NFT” which will have the voting power of 3,000 veDOP tokens. veDOP tokens can be used for voting and influencing rewards / other listing processes for NFT lending pools. Drops DAO is a flexible NFT platform with the potential to grow with the metaverse as it rapidly evolves. These tokens are the equivalent of locking 12,000 DOP tokens for 1 year or 3,000 DOP for 4 years — so there’s a clear benefit of becoming a part of the program from the getgo.
This “Ambassador NFT” is non-transferable and can only be utilized to participate in the voting process on the Drops Snapshot forum for decentralized governance. It will not be able to accrue any veDOP token rewards.
Added Benefits
- veDOP NFTs will enable ambassadors to have long term alignment with the success of Drops DAO
- Ambassadors will receive a share of a pool’s generated fees, dependent on its overall performance — this will help support and boost their community’s treasury, making it a win-win-win situation for both parties in addition to stakeholders.
*Note that the amount of veDOP tokens given to each ambassador can potentially vary based on their overall contribution and impact, determined by the Drops DAO.
Getting Involved
The goal of being an ambassador is to be the voice of their NFT community and the bridge to ours. They will be the go-to people to help inform and support the community regarding Drops DAO protocol updates, voting to increase DOP token incentives, modifying rewards within NFT lending pools, snapshot forum proposals, and voting processes.
A direct effect of this process is that the resulting vote outcomes help determine DOP distribution to the lending pools, thereby increasing the overall APY for lenders while letting borrowers earn yield from their loans.
Over the long term, we see this as a way to increase the value and utility of NFT collections.
Apply & Join Us!
Want to apply for a chance to become a Drops ambassador? Make sure to apply via our form here — if we like what we see, we’ll be in touch!
Best of luck to everyone!
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.
