DropsDAO Newsletter - July 28
This week, Sky Mavis partners with CyberKongz, Palm Network announces a transition to Polygon ZK Supernets, and Proof Collective unveils Grails IV.
Happy weekend, DropsDAO community!
This week, while the dev team has been hard at work, we’re also in the process of revamping this newsletter, to meet all of your needs at the intersection of NFTs and DeFi 😎
We’re also looking at providing summaries of our newsletters via X (Twitter) threads – keep your eyes peeled for our regular market overviews 🧵
Drops Stats
Supplied: $1,951,118
Borrowed: $833,541
Highest Yield (APY)
The highest APY for USDC is available in the Drops Pool, with a supply APY of 40.93% 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 17.95% in ETH and a distribution APR of 0% in DOP.
veDOP Stats
Total veDOP: 308,916.88
Total DOP Locked: 1,767,410.55
Average Lock: 0.70 years
NFT News - Highlights of the Week
🔥 Axie Infinity Creator Sky Mavis Announces Partnership With CyberKongz
Sky Mavis, the creator of the popular blockchain game Axie Infinity, has announced a partnership with the NFT collection CyberKongz to strengthen its commitment to the blockchain gaming ecosystem.
The collaboration aims to develop a new game leveraging the strengths of both platforms. This move comes as the digital nomad and freelance lifestyle gains popularity, offering workers the flexibility to set their own hours and choose their projects.
Web3 technology, exemplified by platforms like HYVE, is revolutionizing the freelancing industry by providing decentralized payment options, eliminating high fees, and offering transparent and fair systems for dispute resolution.
🔥 Palm Network To Transition To Polygon ZK Supernet
The NFT-focused blockchain Palm Network is set to become a customized Polygon blockchain, transitioning into a ZK Supernet based on Polygon's zero-knowledge protocol.
This move will make NFT minting, trading, and collecting more accessible to users and enable interoperability with Ethereum and the Polygon 2.0 ecosystem. The transition will occur in two stages, starting with a shift to a proof-of-stake consensus mechanism in August 2023, followed by a full ZK-based layer-2 implementation in 2024.
The partnership with NFT marketplace Candy Digital and the use of Polygon's technology are expected to enhance security and user experience within Palm Network's ecosystem.
🔥 Proof Collective Unveils Fourth Season Of Grails NFTs
NFT studio Proof Collective is launching the fourth season of Grails, a series of artistic NFTs.
In this installment, the identities of the 20 contributing artists will remain hidden until after collectors mint their artworks, creating intrigue and focusing on the art itself. Despite the recent decline in NFT trading and pricing, Proof aims to contribute to the digital art renaissance.
Grails presents NFTs as fine art, featuring works from well-known web3 artists like Tyler Hobbs, Larva Labs, and Refik Anadol. The previous Grails NFTs auctioned at Sotheby's generated millions in sales revenue.
Other headlines:
Dota 2, Rocket League pros ‘want to explore’ Web3 and blockchain gaming
Crypto transfers using Twitter handles rolled out amid talk Musk will do the same
Generative art platform Highlight launches on Ethereum
Animoca to invest $30 million in crypto app hi
State of the NFT Market (via NFTGO.io)
Market sentiment: 17/100 (❄️ Cold)
Total NFT Market Cap: $5.83B
NFT Weekly Volume: $68.3M
Buyers: 19,688
Sellers: 21,274
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