Drops DAO Weekly Newsletter: May 21 - 27
As Q2 2022 comes to a close, Drops DAO continues to build at rapid speeds. On the backend, we’re working on all fronts to not only improve upon our tech/platform but also bring more involvement and engagement to our amazing community and NFT holders.
We’ve got huge news and announcements coming out over the next week or so, including the formation of big partnerships, that you won’t want to miss.
In the meantime, fasten your seatbelts and check out what we’ve got in store for this week’s edition of our newsletter!
Job Listings
There are still several open positions on our team - take a look below for more information:
Apply by sending an email to hr@drops.co
Head of Community
Frontend Developer: https://cryptojobslist.com/jobs/web3-frontend-developer-drops-dao-remote
Lending Pool Statistics
Check out the most recent stats below for our lending pool:
Total Supply: $3.68M
Amount Borrowed: $1.48M
Supplied NFTs
BAYC: 3
MAYC: 9
PUNK: 2
OTHR: 19
The current APYs for supplying assets in our NFT lending pools can be found below:
$USDC: 1.29%
$ETH: 1.57%
Borrowers can earn DOP rewards from borrowing, too. Current APYs are:
USDC: 8.74%
ETH: 9.54%
Product Development
This Week
Developing liquidation protection mechanism and auction liquidations
Developing liquidation threshold variable which will further shield borrowers from unexpected liquidations
Working on sub floor price mechanism which will enable to list Art Blocks and have trait based NFT valuation
Building the internal dashboard to measure and manage the oracle work
Implementing second price provider for Chainlink node
Developing ambassador’s NFT
What’s Ahead Next Week
First collection listing vote
New lending pool listing
Launch ambassador NFT
Testing second price feed integration
Design new interface for obtaining loans across all pools
Further work on subfloor mechanism integration
Further work on NFT liquidation
NFT Market Statistics
Total NFT Sales Volume
Bearish sentiment continues to drive the cryptocurrency market into a downwards spiral. NFT interest also seems to be following suit, as the weekly sales dropped almost 17% from around $28 million to $23 million.
(Source: https://nonfungible.com/market-tracker)
Top NFT Sales
Blue-chip NFTs still remained the talk of the town - here are the top sales from this week, sorted by highest volume (left to right).
(Source: https://nonfungible.com/market-tracker)
NFT Marketplace Weekly Volume & Users
OpenSea: $185M volume / 153K users
Magic Eden: $57M volume / 113K users
X2Y2: $121M volume / 4.3K users
Gem.xyz: $33M volume / 15.5K users
LooksRare: $72M volume / 7.6K users
(Source: https://dappradar.com/rankings/category/marketplaces)
What’s Happening in the NFT space
OpenSea launched its marketplace protocol named Seaport, allowing for NFT bartering
A scammer creating a phishing attack and was able to steal over $1.5 million worth of Moonbirds NFTs
The Miladys founder was discovered to be involved in a scandal, tanking the NFT collection’s price
Solana surpasses Ethereum in daily NFT trading volume
NFT WEARR is letting people customize their own products for delivery by using their NFTs
A hotel in the Dominican Republic is going to be using NFTs to allow guests to make reservations
Madonna NFTs didn’t live up to the expected hype, receiving smaller than expected bids
Nike sold one of its NFT sneakers for around $134,000