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About Drops Ownership Power
Key Points:
- Drops is a platform that brings decentralized finance (DeFi) infrastructure to non-fungible tokens (NFTs).
- The platform is built on the second-layer scaling solution Polygon.
- Drops connects digital art collectors with art creators and hosts limited-edition artwork releases.
- The platform secured nearly $1 million from private investors in May 2021.
- Drops was founded by Darius Kozlovskis and Nikita Ufimcev.
- The platform offers DeFi solutions that allow holders to fractionalize NFTs, obtain trustless loans, and earn yield.
- DOP is the utility token of the Drops ecosystem
Unleashing the Power of Ownership with Drops
Introducing Drops (DOP): A Comprehensive Overview
Drops is a pioneering platform that converges decentralized finance (DeFi) infrastructure with non-fungible tokens (NFTs), thereby imbuing dormant NFT assets with vital utility.
The developers’ vision is to converge the realms of NFTs and DeFi, crafting a platform that revolves around NFT assets and their utilization, built atop the second-layer scaling solution, Polygon. Through Drops, users can leverage their NFT assets to secure trustless loans and engage in yield farming, thereby mitigating the opportunity costs associated with long-term storage.
The Node Runners team has developed a pioneering platform that bridges the gap between digital art collectors and creators. Drops facilitates a direct connection, enabling the seamless exchange of limited-edition artwork releases. Through a raffle-based mechanism, the platform ensures fair competition and increased accessibility, allowing everyone to discover and appreciate the artworks on display. However, to acquire a piece, users must participate in the raffle, adding an element of excitement to the purchasing process.
Drops was initially unveiled in February 2021. Shortly thereafter, in early May 2021, the platform proudly declared the successful culmination of its private funding round, having secured a substantial investment of nearly $1 million from esteemed private investors, including Axia8 Ventures, AU21, Bitscale Capital, D64 Ventures, Blocksync, Drops Ventures, Genblock, and X21.
Besides Polygon, Drops boasts an impressive roster of strategic partners, including Polkastarter, Quantstamp, 0xb1, Biconomy, Kyros Ventures, PetRock Capital, and Blockstar Technologies Inc.
The Visionaries Behind Drops: Meet the Founders
Drops was founded by Darius Kozlovskis, a visionary entrepreneur who also serves as the founder and Chief Technology Officer of Vizituentr, and formerly held the position of director at ICO Bulls. With a robust background in development and product management, Kozlovskis brings seven years of expertise to the table.
Nikita Ufimcev, his co-founder, brings a wealth of experience from the banking and finance sector, having held positions at esteemed institutions such as Morgan Stanley and Goldman Sachs. Since embarking on his entrepreneurial journey in 2016, he has been an active participant in the crypto space, leveraging his business development expertise since 2017.
Unveiling the Uniqueness of Drops (DOP)
The visionary creators of Drops have embarked on an ambitious endeavor to establish a robust infrastructure that safeguards the long-term value of NFTs, while empowering users to monetize their unique digital assets. To realize this vision, Drops presents a suite of DeFi solutions, enabling holders to fractionalize NFTs, access trustless loans, and accrue yield.
Drops pioneers the convergence of NFT assets with the DeFi ecosystem through its innovative dNFT fractionalization protocol, seamlessly merging NFT assets and converting them into ERC-20 tokens.
Through the innovative concept of dNFTs, users can tap into fungible liquidity pools backed by NFT assets, leverage dNFT tokens as collateral to borrow cryptocurrencies, and capitalize on their assets by engaging in real-world crop growth strategies via dNFT vaults.
In the future, the platform intends to expand its collateral options to encompass governance tokens from prominent NFT projects, thereby providing users with a broader range of opportunities.
The Circulating Supply of Drops (DOP) Coins: An Overview
The DOP token serves as the utility token of the Drops ecosystem, facilitating seamless buying and selling of NFTs. It plays a pivotal role in rewarding liquidity mining and cashback for purchases made on the platform. By staking DOP tokens, users can earn non-transferable coupons, dubbed “dPoints.” Moreover, users are empowered to exercise their voting rights in determining the allocation and distribution of DOP, with future plans for DOP to participate in NFT raffles.
The DOP token serves as the linchpin of the entire ecosystem, facilitating the seamless operation of the Drops platform’s core functionalities, including the loan protocol and fractionalization pools. In tandem with the original Node Runners (NDR) token, DOP will play a pivotal role in a hybrid governance model.
The highly anticipated public launch of the DOP token is slated for May 21, marking a significant milestone in our journey. To commemorate this occasion, an initial dex offering (IDO) will take place on Polkastarter, featuring a limited allocation of 333,333 tokens, priced at $0.60 per token, with a total value of $200,000.
During the token generation event (TGE), approximately 1.4 million tokens will be introduced into circulation, representing a fraction of the total supply of 15 million DOP tokens. The token distribution is allocated as follows: 10% is reserved for the team, 69.12% is allocated to the foundation, 2% is designated for advisors, 16.66% is assigned to private sale participants, and 2.22% is reserved for public sale contributors.
The Drops Network’s Robust Security Framework: A Comprehensive Overview
The platform is built atop the Ethereum Virtual Machine (EVM) and leverages the Polygon network. The DOP tokens are underpinned by the security of their parent blockchain, Ethereum. Furthermore, Drops incorporates second-layer Polygon scaling, which harnesses a network of proof-of-stake (PoS) validators to ensure the secure and efficient facilitation of transactions.
Drops’ loan protocol leverages Compound Finance’s smart contracts, empowering users to harness yield from NFTs while facilitating trustless loan arrangements that utilize NFTs as collateral.
Where to Acquire Drops (DOP): A Comprehensive Guide
As of May 2021, the DOP token remains unlisted on all cryptocurrency exchanges, awaiting its inaugural trading debut.
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Associated Resources:
Delve into the world of Polkastarter and Polygon, two innovative forces shaping the decentralized landscape.
Delve into the world of Node Runners, a captivating NFT-based game crafted by the innovative minds behind Drops.
Delve into the fascinating realm of NFTs with CMC Alexandria, your premier guide to the world of non-fungible tokens.
Stay abreast of the latest developments in the cryptocurrency landscape with the CoinMarketCap blog, your premier source for timely and insightful crypto news.