Drops DAO is excited to announce a partnership with Attrace, for a Drops Loans referral program! Attrace is a leading decentralized referral system, which will enable Drops users to earn commissions for attracting liquidity providers to Drops Loans.
Attrace is a web 3.0 referral system that enables users to promote liquidity pools, initial dex offerings (IDOs) and (soon to be released) staking pools in a decentralized manner.
Users that are successful in attracting liquidity receive bounties for the additional users that they bring to the platform. This drives liquidity and adoption to platforms, while rewarding those who assist in making it happen.
All referrals and promotions are facilitated by the Attrace Referral Network and the Attrace Referral dApp in a completely decentralized and therefore trustless manner.
About the partnership
Drops DAO is partnering with Attrace to enable Drops users to earn rewards for attracting new liquidity providers to the Drops Loans protocol.
The referral system is designed to benefit all parties involved:
- Successful promoters will receive bounty bonuses for successful conversions
- Drops Loans will acquire a boost in liquidity
- New liquidity providers will receive bonuses if joined through the referral system
Specifically, a total of 2000 DOP tokens will be allocated to the first round of referrals.
Promoters will receive rewards in DOP equivalent to 2.5% per month (so 30% per year) of the liquidity provided via their referrals, as well as an additional 2.5% per month (so 30% per year) equivalent in Attrace’s native ATTR token. So in other words, promoters will earn yield without having to allocate any capital themselves!
Likewise, liquidity providers using the referral will also receive 2.5% per month (so 30% per year) in DOP and an additional 2.5% per month (so 30% per year) in ATTR.
With Attrace being such a versatile platform, liquidity provision is just the tip of the iceberg of what Drops DAO can promote via their network. The platform will also provide further promotional opportunities such as NFT sales, rewarding those who spread the word on these releases (and those who they successfully reach!).
About Drops DAO
Drops provides multi-chain loans for NFT and DeFi assets, supplying them with much-needed utility. Users can leverage their idle DeFi tokens and NFTs to obtain permissionless loans and earn extra yield.
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.