NFT Loans
The Drops team is pleased to announce a strategic partnership with Charged Particles!
Charged Particles is a platform that allows users to bundle existing NFT assets with other tokens — such as interest-bearing ERC20 tokens and other NFTs — into a basket represented by a single new DeFi- enabled NFT.
The partnership
The Drops protocol will be integrating support for Charged Particles NFTs, enabling them to be fractionalized and create a Margin NFT product. These Margin NFTs are compatible with the rest of the Drops protocol for:
- Trustless loans, borrowing against Margin NFT as a collateral
- NFT staking, using the Drops Margin NFT solution to earn yield.
This integration will add extra utility to Charged Particles, allowing holders to access additional funds without having to sell their NFTs. Funds borrowed against Charged Particles can be used to generate a return against the underlying NFT via strategies such as yield-farming, which will eventually be integrated directly into the protocol via Drops Vaults.
“With Charged Particles, ANY NFT can be filled with multiple types of assets. We believe that this offers a near-perfect collateral type for NFTs in general as collateral within the growing convergence of DeFi and NFTs. We’re excited to partner with Drops to unlock this utility for our NFT hodlers!” — Ben Lakoff, Business Lead Charged Particles
About charged Particles
Charged Particles is a platform that adds a “charge” to NFT assets (“particles”) by combining them with interest-bearing tokens or other assets. The original NFT asset is bundled together with these tokens and others into a single new asset called a “Charged Particle”.
The Charged Particles platform is backed by investment from notable names such as The LAO, CoinGecko, LongHash Ventures and more.
About Drops
Drops brings DeFi-style infrastructure to NFTs, adding much-needed utility to idle NFT assets. Users can leverage their NFTs to obtain loans and earn real yield, reducing the opportunity cost of holding NFTs long-term.
This Drops infrastructure will become increasingly important as we witness the rise of “financial” NFTs — an expansion of the space beyond digital artwork into more tangible financial instruments.
Drops will offer gasless transactions and a smooth user interface by leveraging the layer-two platform Polygon, enabling fair and frictionless participation for all users.
Twitter: https://twitter.com/dropsnft
Discord: https://discord.gg/Zb9KapDA
Telegram: https://t.me/drops_nft
Web: https://www.drops.co
