Drops (DOP): Combining DeFi and NFTs – Part 2
More utility for NFTs as Drops (DOP) introduces special DeFi-styled infrastructure for Non-Fungible tokens (NFTs).
The end-to-end decentralized technology platform, Drops (DOP), as highlighted in the first series of this article, looks to introduce the far-reaching benefits of the DeFi space to NFTs. The blockchain and crypto space has been in the limelight in recent times with both the DeFi and NFT space leading the global adoption of this truly innovative sphere.
In the first part of this series, we covered important aspects of Drop (DOP). Details of its inception, features, benefits, etc. This article, on the other hand, will cover details of the proposed roadmap of Drops. Also, readers will be intimated about important details like what to expect from Drops this year.
The entire Drops team, has been hard at work, in a bid to meet up with set timelines. This article covers details of important upcoming updates stated for this year. Updates like NFT-based loans, governance, Margin NFT, fractionalization, etc.
The Updates in Details
First on the list of upcoming updates is:
Drop veDOP (DOP staking) – veDOP (also known as Vested escrow DOP). Users who lock up their DOP tokens for a specified amount of time will receive veDOP. The tokens will make it possible for interested users to carry out important functions like the collection of pool emissions. Also, users will enjoy higher APY on their mining activities. This feature is expected to take place this month. The specific timeline will be disclosed in the near future.
Liquidity Mining and NFT Loans – Coming up soon, users will have the opportunity to borrow, and lend assets with their NFT-based governance tokens. The upcoming liquidity mining program will also provide the platform’s participants with the opportunity to earn Drops DOP tokens. The liquidity mining and NFT loan feature is also scheduled to take place this July, 2021.
Q3 of 2021 Proposed Updates
Apart from the updates stated for July, 2021, Drops has plans in place to include automated market maker (AMM) tokens as collateral on its platform. This means that Balancer’s BPTv2, Sushiswap SLP, and Uniswap LPv2 will be incorporated into Drops as collateral.
In Q3 2021, Drops also has plans to launch its loan protocol both on Polygon (formerly Matic Network), and on the Binance Smart Chain (BSC).
The end-to-end decentralized tech platform built on ETH-based protocol Polygon will also create a governance structure for its Loans. The governance model will make it possible for interested persons to vote using Drop native token (DOP).
Fractionalization (Ethereum | Polygon | BSC)
Drops also have plans to launch its fractionalization protocol. The protocol will make it possible for users to pool together NFT assets; swapping them for dNFT (ERC 20) tokens. Drops will also extend its fractionalization to both Polygon and BSC.
At the time of publication, DOP was trading at $0.312491 with a 24-hour trading volume of $24,633. The token price is also up by 2.7% over the last 24 hours.
Back to the list