DropsDAO Newsletter - August 11
This week, the DropsDAO team launched esDOP, finished work on the Aura pool, and revamped our logo with a new and fresh look 😎
Happy weekend, DropsDAO community!
Over the last two weeks, we’ve been working hard as usual, with a bunch of updates to fill you in on today 🙂
First of all, you may have noticed that we updated the DropsDAO logo, to the new simplified cool-blue design.
We’ve also launched esDOP – escrowed DOP that is paid out as protocol rewards. It represents a claim on DOP that can be redeemed over time.
In order to vest esDOP and convert it to DOP over time, a user must hold a relative amount of veDOP. The ratio of veDOP to esDOP holdings determines the rate at which a user’s DOP is released, which ranges between 30 and 180 days.
In addition, we’ve finished work on the Aura Finance pool, which will be launching soon to provide additional utility to Aura assets.
Drops Stats
Supplied: $1,760,985
Borrowed: $703,330
Highest Yield (APY)
The highest APY for USDC is available in the Drops Pool, with a supply APY of 40.86% in USDC and a distribution APY of 0% in DOP.
The highest APY for ETH is available in the Drops Pool, with a supply APY of 22.38% in ETH and a distribution APR of 0% in DOP.
veDOP Stats
Total veDOP: 303,332.78
Total DOP Locked: 1,624,954.95
Average Lock: 0.75 years
NFT News - Highlights of the Week
🔥 FC Barcelona Secures $132M Investment for Web3 Project
Spanish football club FC Barcelona has secured a $132 million investment from Libero Football Finance AG and Nipa Capital B.V. for its Web3 project, Barça Vision.
This initiative aims to integrate digital content related to blockchain, NFTs, and the metaverse, aligning with the club's strategy for its digital Espai Barça.
The investment entails selling a 29.5% stake in Bridgeburg Invest, the holding company for Barça Vision. Pending approval from FC Barcelona shareholders, the transaction is set to conclude in Q4 2023.
The club had previously partnered with Chiliz blockchain to create FC Barcelona Fan Tokens and engaged in NFT initiatives.
🔥 Reddit Launches Gen 4 Collectible NFT Avatars
Reddit has introduced its Gen 4 Collectible Avatar series, the largest expansion of its limited-edition NFT collection, titled "Retro Reimagined."
The collection offers colorful reinterpretations of Reddit's iconic "Snoo" character and features designs from 100 independent artists and well-known NFT collections. The Polygon-based NFTs are priced between $2.49 and $199.99.
Reddit has implemented anti-bot measures, including CAPTCHA, and introduced "initial access" with purchase limits based on account age and metrics.
After the initial access period, a $3,000 daily purchase limit will remain in effect.
🔥 DeGods Sales Soar Following Season III Announcement
PFP project DeGods has experienced a surge in trading volume of almost 200% after unveiling plans for "Season III."
The project's trading activities included the purchase of 158 DeGods NFTs, positioning it at the top of OpenSea's NFT platform leaderboard. Despite a slight decrease in floor price, the project's success indicates potential positive trends for NFT sales overall.
DeGods plans for Season III include 20,000 new artworks, addressing community feedback with new traits, and maintaining the uniqueness of each NFT without dilution.
The project offered a method for token holders to update their tokens using its native utility token, DUST, with plans to decrease the cost over time.
Other headlines:
Crypto user burns $8 million in tokens and NFTs as mystery continues
JPEG’d confirms return of 5,495 ETH from Curve hacker
Animoca Brands-Backed Game 'Wreck League' Puts Bored Apes Into the Storyline
State of the NFT Market (via NFTGO.io)
Market sentiment: 21/100 (❄️ Cold)
Total NFT Market Cap: $5.71B
NFT Weekly Volume: $65.1M
Buyers: 22,732
Sellers: 21,950
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