Drops DAO Weekly Newsletter: July 23 - 29
The crypto markets are picking up steam as we end the month of July! Overall sentiment is picking up and we can’t help but feel the vibes echoing across the NFT space.
Here’s a quick recap of the major highlights this week:
An exclusive Twitter Spaces on “The Storm” campaign was held today, July 29th. Our team discussed details about the competition and what participants can expect, in addition to holding a Q&A session at the end to answer the community’s questions.
The second Alpha Drops Twitter Spaces took place on Thursday, July 28th, where our team was joined by Vera the Ape to discuss her journey, as well as plenty of other juicy information.
The Sandbox LANDS NFT collection was listed in the Ocean pool on our platform - users can now collateralize their LANDS here: https://drops.co/lending/pool/1/
Keep reading to get the latest scoop on all of our platform stats and developments.
Lending Pool Statistics
Check out the most recent stats below for our lending pools:
Total Supply: $2,507,010
Amount Borrowed: $387,959
Supplied NFTs
BAYC: 2
MAYC: 7
PUNKS: 2
OTHR: 29
CyberBrokers: 20
Squiggles: 2
LAND: 1
Highest Yield (APY)
The highest APY for USDC is available in the Drops Pool, with a supply APY of 57.95% in USDC and a distribution APY of 14.48% in DOP.
The highest APY for ETH is available in the Lake Pool, with a supply APY of 1.16% in ETH and a distribution APR of 5.9% in DOP.
veDOP statistics
DOP Locked: 1,316,438
Total veDOP: 242,375
Average Lock: 0.74 years
Product Development
This Week
NFT collateral migration
Sandbox LAND collateral launch
Updated lending pools structure
Code4rena audit preparation
NFT Mortgages contracts updates
Price oracles for CloneX and Meebits
Liquidation frontend integration
What’s Ahead Next Week
Launch of new markets for CloneX & Meebits
NFT mortgages frontend tests
Submission to code4rena
Liquidation insurance development
Rarify price feeds integration
NFT Market Statistics
Total NFT Sales Volume
Sales were down over 57% on the week, with the number of sales down over 72%. Numbers continue to stay in the red for NFTs on the week.
(Source: https://nonfungible.com/market-tracker)
Top NFT Sales
We started to see some new faces pop up in the top sales list, which Goblintown and SuperRare assuming some of the top spots among the biggest blue-chip collections.
(Source: https://nonfungible.com/market-tracker)
NFT Marketplace Weekly Volume & Users
OpenSea: $102M volume / 135K users
X2Y2: $155M volume / 6.31K users
Gem.xyz: $13M volume / 8.85K users
LooksRare: $21M volume / 2.86K users
(Source: https://dappradar.com/rankings/category/marketplaces)
What’s Happening in the NFT space
Miami is launching 5,000 Ethereum NFTs with TIME, Mastercard, and Salesforce
Damien Hirst will be burning thousands of physical items for his new NFT project
Bella Hadid joins the metaverse by launching her own NFT collection
Binance is now entering the NFT ticketing space
Endeloop launches its NFT search engine to allow users to easily find their favorite JPEGs
The Dubai police are releasing their second NFT collection
Unstoppable raises $65M for its Series A funding round at a $1B valuation
Biggie Smalls NFT Collection quickly sells out within 10 minutes
SMBC bank in Japan is coming into the NFT and Web3 markets
Drops Meme of the Week
