Drops

About Drops

{"time":1704988755000,"blocks":[{"data":{"level":6,"text":"Highlights"},"type":"header"},{"data":{"items":["Drops platform provides permissionless loans for any NFT on DeFi assets.","Drops have the main goal of becoming a community-driven metaverse bank.","There is no gated access to loans, and any asset can be listed as collateral."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Product"},"type":"header"},{"data":{"level":1,"text":"Drops is a product that enables users to utilize their idle assets and obtain loans or earn extra yield."},"type":"header"},{"type":"paragraph","data":{"text":"Anyone can create a lending pool for NFT or DeFi assets and specify which tokens can be borrowed against them. Lenders can supply liquidity and earn interest, while borrowers can get access to any additional liquidity from NFTs.\r\nThe lending pools are isolated, which means that the lenders are exposed only to assets linked inside the pool.\r\n"}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/rh0mtotpg2ro0th31e0gbwfzfbsx","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/rh0mtotpg2ro0th31e0gbwfzfbsx"}}},{"data":{"level":6,"text":"Problem"},"type":"header"},{"data":{"level":1,"text":"There is a fundamental problem of NFTs in the way through which they cannot be used for anything else except for speculation."},"type":"header"},{"data":{"level":6,"text":"Solution"},"type":"header"},{"data":{"level":1,"text":"To reduce the opportunity costs of holding onto NFTs, they can be used as collateral to instantly borrow funds against them from lending pools."},"type":"header"},{"type":"paragraph","data":{"text":"Any token that is listed on Sushi or Uniswap can be used for pool creation on Drops."}},{"data":{"level":6,"text":"Business Model"},"type":"header"},{"data":{"level":1,"text":"Drops has a business model in the way through which 15% of the funds have been allocated towards liquidity, 20% for marketing, and 70% for product development."},"type":"header"},{"type":"paragraph","data":{"text":"This amount has been sufficient for a 1.5-year runway, and to sustain the development, 50% of all paid interest rates from loans go to the DAO treasury."}},{"data":{"level":6,"text":"Market"},"type":"header"},{"data":{"level":1,"text":"Our main competitors are NFTfi and Stater, which use peer-to-peer lending models."},"type":"header"},{"type":"paragraph","data":{"text":"Drops have a competitive advantage due to the fact that we offer instant loans against NFT collateral by using lending pools. There is no need to be matched with a lender, and the NFT value is determined by the price oracle, which estimates the NFT floor price."}},{"data":{"level":6,"text":"Investors"},"type":"header"},{"data":{"level":1,"text":"We have raised $1 million in seed investments and $300,000 in public investments."},"type":"header"},{"type":"paragraph","data":{"text":"The seed funding round was led by Axia8 Ventures, Bitscale Capital, Blocksync, AU21, x21, D64, Genblock, and Drops Ventures.\r\n"}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/cpgt2y7xanqbx6jaw3et7kwrypd5","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/cpgt2y7xanqbx6jaw3et7kwrypd5"}}},{"data":{"level":6,"text":"Team"},"type":"header"},{"data":{"items":["Darius Kozlovskis (Founder)","Nikita Ufimcev (Co-Founder and Business Developer)","Vakhtangi Gigauri (Ph.D., Lead engineer)","Hanna Ya (Head of communications)"],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Token Utility"},"type":"header"},{"data":{"level":1,"text":"The Drops Ownership Power $DOP is the official token of Drops DAO."},"type":"header"},{"type":"paragraph","data":{"text":"It is used as a utility token as well as an on-chain and off-chain governance system. $DOP is specifically designed to be directly used for the governance of the Drops loans protocol to determine factors, including collateralization ratios, DOP emissions, and the adoption of new token markets."}}],"version":"2.27.2"}