Drops DAO Weekly Newsletter: July 16 - 22
The crypto markets are picking up and things are looking more positive heading into the latter stages of July. It’s certainly been an exciting summer on all fronts and Drops is continuing to innovate.
This week was full of exciting events and developments, including:
Dropping Alpha Twitter space with featured guest BAYC holder speakers where we discussed the latest NFT news, Otherside demo, and what listeners were buying
A fun thread on NFT mortgages with a story behind how to use this new product when it rolls out
Continued recruitment of participants for “The Storm” - make sure to engage with the tweet if you want a spot!
Lending Pool Statistics
Check out the most recent stats below for our lending pools:
Total Supply: $2,594,769
Amount Borrowed: $387,762
Supplied NFTs
BAYC: 3
MAYC: 7
Cryptopunks: 2
OTHR: 29
CyberBrokers: 23
Squiggles: 2
Highest Yield (APY)
The highest APY for USDC is available in the Drops Pool, with a supply APY of 38.23% for USDC and a distribution APY of 12.98% for DOP.
The highest APY for ETH is available in the CyberBrokers Pool, with a supply APY of 2.54% for ETH and a distribution APR of 6.05% for DOP.
veDOP statistics
DOP Locked: 1,206,298
Total veDOP: 216,204
Average Lock: 0.72 years
Product Development
This Week
Completed NFT Mortgage Beta, prepared codebase for an audit
Worked through FlashClaim feature (60% complete)
Work on including new NFT price feeds from Rarify
Liquidation insurance tests
What’s Ahead Next Week
NFT Mortgages audit start
Airdrop FlashClaim development for mortgages
Liquidation insurance mainnet tests
Rarify NFT price feed integration
NFT Market Statistics
Total NFT Sales Volume
Sales over the last week have fallen around 52%, with the number of sales decreasing by over 62%.
(Source: https://nonfungible.com/market-tracker)
Top NFT Sales
Over the last week, CryptoPunks have completely dominated the landscape in terms of NFT sales.
(Source: https://nonfungible.com/market-tracker)
NFT Marketplace Weekly Volume & Users
OpenSea: $117M volume / 141K users
X2Y2: $155M volume / 6.1K users
Gem.xyz: $14M volume / 9.87K users
LooksRare: $21M volume / 3.61K users
(Source: https://dappradar.com/rankings/category/marketplaces)
What’s Happening in the NFT space
OpenSea introduces its Solana NFT Launchpad
FC Barcelona launches its "In a Way, Immortal" NFT and will put it up for auction at Sotheby's New York
Franklinisbored accidentally spends $150K on his own joke domain name
Minecraft announces it’s banning NFTs and blockchain technology on its platform
Premint is returning $500K in ETH to NFT users who were hacked
Zapper, a popular DeFi analytics manager, integrates NFT and DAO dashboards
Square Enix is planning to drop a Final Fantasy VII NFT Collection in 2023
Usain Bolt plays a role in assisting in launching Step, a ‘move-to-earn’ NFT fitness app
CryptoPunks NFT holder sells for a $7M loss
US federal agency announces issuance of legal advisory on NFT investments
Drops Meme of the Week
