Drops DAO Mainnet Went Live
Drops DAO mainnet went live, it was announced last May 4, 2022. Deploying its live network ensures that DropsDAO users and the community members will be able to interact with its platform’s full capabilities, bringing collateralized NFT loans and DeFi staking to the masses.
Introducing DropsDAO NFT Lending Pools
Now that the DropsDAO mainnet was live and deployed, NFTs are now borrowable through lending pools. This means users are now able to use their NFTs as collateral in order to acquire loans (borrowing up to 60% of NFT floor values) — which is what Drops DAO was created to do.
The Yuga Labs lending pool will be deployed and made available to users of our platform who hold NFTs within the following collections:
- Bored Ape Yacht Club (BAYC)
- CryptoPunks (PUNKS)
- Mutant Ape Yacht Club (MAYC)
As time goes on, more NFT collections and their respective pools will be integrated onto the Drops DAO platform, allowing its community members to have a wider array of choices.
Security
DropsDAO deployed Chainlink’s secure decentralized oracle infrastructure. NFTs within Drops lending pools now have a reliable floor price that’s consistently updated. Users can feel confident in the prices reflected. This is proving to be a major value-add to its ecosystem, making this mainnet launch as smooth as possible in addition to increased network security.
In addition, its protocol has been audited by Peckshield, one of the leading blockchain security firms.
ABOUT Drops DAO
Drops DAO provides loans for NFT and DeFi assets, supplying them with much-needed utility. In addition, 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.
RESOURCES
Medium
