Drops DAO Weekly Newsletter: May 28 - June 3
We’re now running full force into June, and things are continuing to heat up here at Drops! So much has gone on over the last few weeks, but luckily, we’ve got you covered.
Here’s a quick snapshot of recent key events:
Launched veDOP for decentralized governance voting
Collaborated with Pocket Network to improve our decentralized infrastructure
Formed partnership with Bridge Mutual for NFT asset insurance
First Snapshot forum proposal was passed to add the CyberBrokers NFT lending pool
Onboarded our first 2 ambassadors for CyberBrokers
Entered into partnership with NFTBank to optimize NFT loans tracking
Formed partnership with REDACTED Cartel for enable bribing
All this and more are available in this week’s newsletter update!
Job Listings
Drops is currently hiring with the following roles available:
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: $4,547,759
Amount Borrowed: $1,311,194
Supplied NFTs
BAYC: 3
MAYC: 10
OTHR: 24
The current APYs for supplying assets in our NFT lending pools can be found below:
$USDC: 2.84%
$ETH: 1.05%
Borrowers can earn DOP rewards from borrowing, too. Current APYs are:
USDC: 12.57%
ETH: 8%
veDOP statistics
DOP locked: 906,333
Total veDOP: 125,715
Average Lock: 0.55 years
Product Development
This Week
Integrating second price feed for collections using NFTBank.ai service
Implementing additional security layer for price oracle
Continued development of the internal oracle management dashboard project
Launched support for nested Moonbirds
Launched Chainlink price oracle for CyberBrokers
NFT liquidation protection insurance logic diagram completed
Ambassador NFT development
UI updates for performance improvement
Drafted new dashboard design for tracking loans
What’s Ahead Next Week
Complete NFTBank.ai’s second price integration
Launch CyberBrokers lending pool
Launch Ambassadors NFTs
Pass a vote to launch new collection
Launch new lending pool
Verify lending contracts and make them public
Submit bug bounty program to partner for approval
Integrate multisig for contracts
Continue development of the dashboard
Investigate to fully implement a decentralized solution for the price calculation system
Working on ID ranged support Art Blocks
veDOP UI fixes & rewards calculation
NFT liquidation insurance development
NFT Market Statistics
Total NFT Sales Volume
Markets continue to stay stagnant and have moved slightly to the downside over the last week. The number of NFTs sales is down roughly 38%, with sales plummeting around 37% over the last 7 days.
(Source: https://nonfungible.com/market-tracker)
Top NFT Sales
A majority of this week’s top NFT sales were from blue-chip collections as they continued to dominate the top spots.
(Source: https://nonfungible.com/market-tracker)
NFT Marketplace Weekly Volume & Users
OpenSea: $30M volume / 43K users
Magic Eden: $13M volume / 38K users
X2Y2: $139M volume / 5K users
Gem.xyz: $36M volume / 19K users
LooksRare: $2M volume / 1.3K users
(Source: https://dappradar.com/rankings/category/marketplaces)
What’s Happening in the NFT space
Nate Chastain, a prior OpenSea employee, was arrested and charged with NFT insider trading
Prada launches their own NFTs to represent its fashion brand
Kanye West announced that he’s getting into the NFT space
The Goblin Town NFT collection has quickly risen in value, now with a floor price of ~8 ETH
A former Amazon executive is looking to launch their own NFT wine platform
Drops Meme of the Week
