The $AAVE of NFT’s
$DOP @dropsnft will be the first project to launch NFT Lending Pools
It could become the Bank of the Metaverse
Let’s take a closer look 🧵👇
$DOP @dropsnft will be the first project to launch NFT Lending Pools
It could become the Bank of the Metaverse
Let’s take a closer look 🧵👇
1/ What is $DOP?
$DOP is building something completely new: NFT Lending pools. Instead of p2p NFT lending (like @nftfi), it will offer instant loans against NFT collateral.
$DOP is building something completely new: NFT Lending pools. Instead of p2p NFT lending (like @nftfi), it will offer instant loans against NFT collateral.
2/ How do NFT Loans work on $DOP?
You will simply have to deposit your NFT into the Drops platform to start lending out your NFT and start earning interest on it.
You will simply have to deposit your NFT into the Drops platform to start lending out your NFT and start earning interest on it.
There will be multiple pools. - Each project (eg. BAYC) has their own risk reward profile for the pool.
Anyone can supply collateral (NFTs or Tokens) and borrow stables for liquidity.
Anyone can supply collateral (NFTs or Tokens) and borrow stables for liquidity.
3/ How revolutionairy is this ?
It means that any NFT owner can start earning interest on their NFT’s, putting their NFT’s to work.
$DOP could change the NFT space forever & crypto as a whole. It will instantly make NFT’s more valuable.
It means that any NFT owner can start earning interest on their NFT’s, putting their NFT’s to work.
$DOP could change the NFT space forever & crypto as a whole. It will instantly make NFT’s more valuable.
Besides that $DOP will improve the liquidity of NFT’s dramatically. NFT Pools on $DOP can be routed to different networks and DEX’s.
4/ Competitors of $DOP
$DOP doesn’t have any competitor, its the first to deploy non p2p NFT loans.
Projects that look like $DOP are p2p NFT Lending platforms like @nftfi. So far p2p doesn’t really seem to work for mass application, since there is too much friction.
$DOP doesn’t have any competitor, its the first to deploy non p2p NFT loans.
Projects that look like $DOP are p2p NFT Lending platforms like @nftfi. So far p2p doesn’t really seem to work for mass application, since there is too much friction.
5/ Future of $DOP?
The idea behind the $DOP could potentially attract billions in NFT value. Think of how much TVL they will be able to attract in NFT’s to its platform.
The idea behind the $DOP could potentially attract billions in NFT value. Think of how much TVL they will be able to attract in NFT’s to its platform.
The NFT-Fi space is still young and it could become the next big narrative. If the NFT-Fi space undergoes the same growth as DeFi (worth 112b atm) & $DOP executes on their idea’s, it could potentially become a multi billion market cap project.
Current market cap is only 12m
Current market cap is only 12m
6/ Team
Founder of $DOP is @0xdarius
Darius is a long time developer - starting in game dev. Web and mobile. Later pivoting into crypto, starting an agency back in the day.
Co-Founder is Nikita Ufimchev
Worked for Goldman Sachs & Morgan Stanley
Founder of $DOP is @0xdarius
Darius is a long time developer - starting in game dev. Web and mobile. Later pivoting into crypto, starting an agency back in the day.
Co-Founder is Nikita Ufimchev
Worked for Goldman Sachs & Morgan Stanley
7/ Backers
Some of $DOP backers:
⁃CTO Sushi
⁃@0x_b1 famous mega whale
⁃Zerion team members
⁃CEO DeFiprime
⁃Quantstamp, Polygon, Enjin
⁃Mechanism capital
Some of $DOP backers:
⁃CTO Sushi
⁃@0x_b1 famous mega whale
⁃Zerion team members
⁃CEO DeFiprime
⁃Quantstamp, Polygon, Enjin
⁃Mechanism capital
8/ Token economics
Market cap: 12.3m
Circulating supply: 3.2m
Total supply: 15m
Market cap: 12.3m
Circulating supply: 3.2m
Total supply: 15m
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