Squiggles NFT Lending Pool is Now on Drops
Decentralized governance continues to pave the way forward for NFT collections on Drops DAO. Ever since we launched veDOP, there have already been several proposals on our Snapshot forum where the community decides on future lending pools.
This week, the community has spoken! A vote was passed to list Squiggles as the next collection to receive its own NFT lending pool on Drops.
The Squiggles NFT collection LTV (Loan to Value) will be 60%.
Begin collateralizing your Squiggles NFTs here: https://drops.co/lending/pool/4/
Squiggles by Art Blocks is a popular collection of squiggly designs and colors represented as NFTs. The artist’s intention behind these images is that they are simple, easily identifiable, and capture the essence of the Art Blocks platform.
They’re the artist’s personal signature, cemented on the blockchain and planned to be manually distributed to different collectors and community members over time.
Each NFT is unique in design and available on various marketplaces for purchase.
Here are the most recent analytics from OpenSea:
- # NFT Items: 9.6K
- # Owners: 2.7K
- Floor Price: 5.9 ETH (~$9,700)
- Total Sales Volume: 15.6K ETH (~$25,700)
More Lending Pools to Come
This is only the beginning — as veDOP holders continue to push initiatives and proposals forward to add new lending pools, blue-chip NFT collection holders will thrive on the Drops platform.
Become a part of our amazing community, where you too can harness the power to influence the Drops protocol’s decisions.
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.