Drops DAO, the DeFi platform and NFT-centric DAO, has launched its mainnet. There is now a live network for Drops, meaning all users and community members can interact with all offers in real-time. This also allows users to access capital without intermediaries. For this reason, the platform’s DeFi protocols will receive much more attention.
Also, Drops’ lending capabilities now allow users to use their NFT assets as collateral to secure quick loans. Additionally, it accepts whitelisted NFT collections as collateral in an isolated loan pool that accepts a variety of tokens. Because isolated loan pools allow for a 60% collateral ratio, Drops DAO stands out from other loan options. The reduced protocol risk and high scalability allow for a greater collateral ratio.
With Drops, you can add any type of collection to your account without exposing your lender to any additional risk. Additionally, these credit pools allow each NFT collection to achieve greater utility and liquidity. As a result, secondary market users are under less selling pressure. Collection liquidity is a plus for lenders by offering higher usage and interest rates for riskier collection offers.
Drops Founder, Darius Kozlovskis, stated, “After major changes in the market place and a tireless year of research and development, we have finally arrived at what may become a new financial primitive for NFTs. We are at the beginning of the Metaverse funding and are very excited to be a part of it.”
About drops of DAO
Drops DAO is a DeFi platform that offers lending for NFT and DeFi assets. Collectibles, Metaverse assets, and financial NFTs are all acceptable collateral for Drops’ credit pools. Also, users of the Drops DAO can get credits and generate additional income by using their unused NFTs and DeFi tokens. Along with Bitscale Capital and AU21, Drops DAO’s top institutional backers include Axia8 Ventures and Bitscale Capital. NFT Whale 0xb1 Cooper Turley Marc Weinstein Joseph Delong and Quantstamp CEO Richard Ma are among the angel investors.