Drops Prepares for The Testnet Launch of Its Highly Anticipated NFT Lending Platform
27 Ottobre 2021 - 3:00PM
NEWSBTC
Drops, a platform that facilitates loans for NFTs and DeFi assets,
has revealed the first phase of the three-phase rollout of its NFT
Lending platform. Per the official release, the Drops NFT lending
platform offers users options to use their NFTs as collateral in
return for access to trustless loans from Drops’ permissionless NFT
lending pools. The NFT lending platform will be first launched on
the testnet, flagging off the journey towards the eventual mainnet
inauguration. Interested NFT owners can drop in their applications
to join the testnet and witness history in the making. The second
phase will involve security audits before the final stage kicks off
with the mainnet rollout. Once the NFT Lending platform is live, it
will play the critical role of bridging the liquidity gap within
the NFT ecosystem. Darius Kozlovskis, Founder & CEO of Drops,
notes, “NFTs have become the centre stage of crypto discussions in
the past few months. However, the latest crypto market crash
revealed underlying liquidity issues in this upcoming niche. The
Drops NFT lending model is designed to introduce liquidity in NFT
markets by bridging the metaverse world with Decentralized finance.
In doing so, we believe that NFT owners can derive more value from
their idle assets.” With the DeFi market expanding at an
unprecedented rate, Darius is optimistic about the new NFT Lending
platform. He adds, “We are excited about the future of the
metaverse given its potential in building global digital
communities. The Drops NFT lending platform provides a perfect
starting point to contribute towards the growth of the metaverse.
In future, we anticipate integrating more DeFi opportunities to
support the mainstream adoption of NFTs and digital ecosystems.”
Instant Liquidity And Yield Opportunities For NFT Owners With
Drops, NFT owners can use their assets like gaming and financial
NFTs, collectibles, and metaverse items as collateral to receive
instant access to trustless loans without mediators or centralized
authorities. Thanks to its NFT lending pools, Drops enables users
to access funding opportunities seamlessly and allows users to turn
their idle assets into active yield-generating products. Via its
native dNFT and dTokens, Drops represent users’ NFT collaterals
supplied to the NFT lending pools. As such, NFT owners who add
liquidity to a particular pool can use the native tokens for
borrowing or repaying existing loans. At the same time, the
platform also allows users to earn attractive returns and rewards
for providing liquidity to its lending pools. Drops is backed by
prominent VC firms, including AU21 Capital, Bitscale Capital,
Genblock Capital, and x21, among others, and investors like Richard
Ma (CEO, Quantstamp), Nick Sawinyh (CEO, Defiprime and DexGuru),
Michael Gu (CEO, Boxmining), and several others. The platform
currently features more than $6.2 million in total value locked
(TVL), which may quickly multiply once the NFT Lending platform
goes live on the mainnet.
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