DeFi meets NFTs
Drops integrates NFT assets into a wider DeFi ecosystem, through our very own fractionalization protocol, dNFT.
In simple terms, the dNFT protocol enables NFT assets to be pooled and converted into representing ERC20 tokens. This functionality can be used for a variety of applications, including loans and yield farming — two very prominent DeFi use cases which are widely used for fungible assets.
Rather than letting assets sit idle, NFT holders will now be able to actively participate in the DeFi ecosystem and earn returns, all without having to sell their NFTs.
Via dNFT, Drops users will be able to:
- Obtain instant access to liquidity
- Fractionalize NFT assets while retaining their ownership
- Obtain trustless NFT loans
- Earn yield with NFT vaults.
HOW IT WORKS
STAKE NFT AND EARN DPOINTS
- Put your NFT to work in vaults and earn dPoints which can be used as coupons for purchases at the platform.
PARTICIPATE IN DROPS ARTWORK RAFFLES
- Buy a ticket and feel a thrill of winning the rarest artwork from the collection.
GET CASHBACK REWARDS
- For each purchase you can get up to 5% cashback in DROP tokens.
The DOP token
As the official utility token of the Drops ecosystem, DOP will be accepted as the primary method of payment for buying and selling NFTs on the platform. It will also be used in a hybrid-governance model, in conjunction with the original Node Runners token (NDR).
The DOP token will also be used to pay users liquidity mining rewards and cashback rewards on Drops purchases. Users can stake these DOP tokens to earn dPoints — non-transferrable coupons which are redeemable for the purchase of NFTs within the platform.
Finally, the DOP token will be utilized in future functions and promotions on Drops, such as participation in NFT raffles.
