DropsDAO Newsletter - June 9
This week, Drops launches a loan tracking feature, Kraken NFT comes out of beta, ENS prepares to roll out .box domains, and Foundation announces dynamic NFT pricing.
What’s up DropsDAO community!
This week, the team has launched a new loan positions tracking section on loans page, so users can keep a closer eye on each of their open positions within the Drops dApp.
We’ve also added new dashboard for existing loans positions, inside lending pools. This has been accompanied by the necessary backend updates to track positions.
Additionally, the team has been preparing for launching the DeFi lending pool, which should be on its way soon!
Drops Stats
Supplied: $3,882,821
Borrowed: $936,491
Highest Yield (APY)
The highest APY for USDC is available in the Ocean Pool, with a supply APY of 41.18% in USDC and a distribution APY of 5.23% in DOP.
The highest APY for ETH is available in the Ocean Pool, with a supply APY of 22.40% in ETH and a distribution APR of 0% in DOP.
veDOP Stats
Total veDOP: 339,894.36
Total DOP Locked: 1,998,302.56
Average Lock: 0.68 years
NFT News - Highlights of the Week
🔥 Kraken Launches NFT Marketplace With Support For Multiple Blockchains
Cryptocurrency exchange Kraken has officially launched its NFT marketplace, expanding it from the public beta test phase.
The platform now supports over 250 non-fungible token (NFT) collections across Ethereum, Solana, and Polygon blockchains. With its public launch, Kraken's NFT marketplace includes both high-value projects like CryptoPunks and Bored Ape Yacht Club, as well as more affordable collections under $100.
Kraken NFT does not charge gas fees for buying and selling NFTs, but incurs gas fees for transferring NFTs and other cryptoassets on and off the Kraken platform.
Users can pay in fiat or cryptocurrency, and rarity rankings are integrated into the listings. Kraken currently supports MetaMask and Solana's Phantom wallet, with WalletConnect planned for the future.
🔥 Ethereum Name Service To Roll Out .box Web Domains
The Ethereum Name Service (ENS) will soon support a new web domain called .box, which can be routed on web browsers like traditional internet domains.
The .box domain is part of the My.Box project, allowing users to register domains for both crypto and internet services, such as email. Registrations and transfers of .box domains will take place on the Ethereum blockchain, and ownership will be represented by associated NFTs.
Unlike ENS's current .eth domain, which doesn't interact with the internet's default naming protocol (DNS), the .box domain will be accessible on all web browsers via ENS, integrating ENS and DNS protocols.
The My.Box project is set to launch in September and will be deployed on an Ethereum Layer-2.
🔥 NFT Marketplace Foundation Announces Dynamic NFT Pricing
NFT marketplace Foundation has introduced a new feature called Dynamic Pricing, which simplifies pricing for creators.
The feature utilizes a Rebate Dutch Auction mechanism, allowing creators to gradually reduce the price of their NFTs over time. Collectors can choose to purchase at any point, setting a price they find reasonable.
Foundation aims to provide creators with greater control and transparency over their sales by incorporating market influence into pricing decisions. The project hopes that the introduction of Dynamic Pricing will make the auction experience more intuitive and accessible for collectors.
Other headlines:
Binance adds Bitcoin NFTs to its marketplace one day after SEC lawsuit
NFT Inspect Introduces New PFP Discovery Tool for Twitter
Crypto hype machine MoonPay gifted Hollywood celebs Bored Apes to promote itself: sources
State of the NFT Market (via NFTGO.io)
Market sentiment: 26/100 (💧 Cool)
Total NFT Market Cap: $7.48B
NFT Weekly Volume: $94M
Buyers: 31,739
Sellers: 37,299
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