DropsDAO Newsletter - July 7
This week, the Drops team deployed contracts for gOHM and remaining positions, a new browser extension allows you to buy NFTs on Twitter, and developers look to reduce Ordinals minting costs by 90%!
Happy weekend, DropsDAO community!
This week, the team finished revamping the Drops homepage, completing the website’s new look 👀
We’ve also deployed gOHM market contracts, as well as remaining positions pool contracts. Additionally, the team has integrated the positions pool UI.
Drops Stats
Supplied: $1,616,338
Borrowed: $1,136,983
Highest Yield (APY)
The highest APY for USDC is available in the Drops Pool, with a supply APY of 40.88% in USDC and a distribution APY of 5.01% in DOP.
The highest APY for ETH is available in the Drops Pool, with a supply APY of 31.76% in ETH and a distribution APR of 0% in DOP.
veDOP Stats
Total veDOP: 324,871.28
Total DOP Locked: 1,998,699.81
Average Lock: 0.65 years
NFT News - Highlights of the Week
🔥 NFT Trading Volumes On Ethereum See Biggest Jump Since February
Ethereum NFT volume saw its largest weekly jump since February last week, with a 63% jump within the last week according to The Block Crypto Data.
Much of the trading volume can be attributed to the Azuki Elementals mint, which proved somewhat controversial.
The largest increase before last week was 109% in February of this year.
🔥 New Browser Extension Enables Users To Buy NFTs On Twitter
A new Chrome browser extension called NFT Inspect has been released, which enables users to purchase NFTs through Twitter.
The extension analyzes NFTs used as profile pictures on Twitter and is partnering with payments processor MoonPay for purchases using debit cards, Apple and Google Pay, and bank transfers.
NFT Inspect was acquired in March of this year by JVH Technology Inc.
🔥 Developers Claim 90% Reduction In Ordinals Minting Costs Via “BRC-69” Token Standard
Bitcoin Ordinals launchpad Luminex has released a new version of the BRC-20 token standard dubbed “BRC-69” – which they claim will reduce minting costs by 90%.
The new token standard requires just a single line of text inscribed to the blockchain rather than a full image, drastically cutting fees for minters.
Luminex hopes that their reduction of minting fees will assist in sustaining the growth of Ordinals, making it easier for users to participate in the ecosystem.
Other headlines:
Bored Ape NFT pricing nears two year low
Credit Suisse is launching Ethereum NFTs with the Swiss Football Association
Animoca still bullish on blockchain games, awaits license for metaverse fund
State of the NFT Market (via NFTGO.io)
Market sentiment: 23/100 (💧 Cool)
Total NFT Market Cap: $5,99B
NFT Weekly Volume: $139M
Buyers: 24,795
Sellers: 25,801
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