Drops Partners with Solv for Financial NFTs
The Drops team is pleased to announce a strategic partnership with Solv Protocol!
Solv Protocol is a decentralized finance (DeFi) platform which is improving the transparency and transfer of project tokens to investors, via an NFT-based solution. The platform has developed a new token standard, vNFT, which integrates unique investment contract (IC) data into fungible tokens.
This IC data contains information such as the number of tokens a project has, as well as the dates and rate at which these tokens are distributed.
Drops will be using Solv Protocol to launch vNFT tokens loaded with our native token, $DOP. This will improve the transparency and transferability of the DOP token for all stakeholders.
In addition to this, Drops is currently creating a fractionalization solution which will be compatible with Solv Protocol’s vNFT tokens. Our solution will enable users to obtain access to instant liquidity using vNFTs as collateral, based on the token’s underlying value.
In simple terms, Drops will facilitate a secondary market for Solv Protocol’s financial NFTs, enabling users to get more utility out of their vNFT tokens.
This will become an exciting first application of the Drops platform to NFTs outside of digital collectibles — the first step of many for Drops into the world of financial NFT assets!
Solv Protocol is breaking ground in the DeFi space with their design and creation of the vNFT token standard.
With the addition of an innovative marketplace, Solv Protocol enables users to access liquidity by selling vNFT tokens — tokens with non-fungible properties that can still be split-up or combined into baskets of different assets.
The first vNFT created by Solv is the Investment Certificate, which is already available at solv.finance.
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.