Drops x Im Community AMA Recap
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đ TELEGRAM AMA: Im Community & Drops đ
â° AMA Timing : 15 May 2021 l 12:00 PM UTC l 19:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 200 USDT
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Drops
Bà Tân | : Today our guest is: @alpha_noder from Drops
Darius DOP | NDR : thank you for having me here/
Bà Tân | : Please introduce yourself a bit: @alpha_noder
Darius DOP | NDR : Iâm developer with a background in mobile and web apps development. In 2017 founded crypto development agency, in 2019 created a CRM for medical clinics and in early 2020 got back to crypto.
My friend and cofounder Nick has financial background, worked at Morgan Stanley and Goldman Sachs.
Our product team consists of 8 seasoned developers that worked with DeFi, cybersecurity and fintech.
In last years October we fair launched Node Runners NFT game. We noticed a great potential thatâs ahead in NFT industry, especially in financial NFTs direction, where weâre headed.
Bà Tân | : Thanks for the introduction.
Todayâs AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team Drops
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1392673210190028803).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group Drops (https://t.me/drops_nft) , Drops Announcements (https://t.me/dropsnft) and IM Community (https://t.me/imcommunityitw) , Channel Im community
(https://t.me/imcommunityit)âŤď¸Follow: Twitter Drops (https://twitter.com/dropsnft) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đhttps://drops.co/
BĂ Tân | : Those who havenât joined @drops_nft group will not be eligible for AMA rewards, make sure you did.
Bà Tân | : Start session 1 AMA @alpha_noder
Bà Tân | : Question1. Can you tell us more about the vision behind Drops, and why are you launching it?
Darius DOP | NDR : Our vision is to enable users to earn yield from NFTs.
With so many NFTs on the market, we want to create an infrastructure that will preserve their value in the long run.
Drops brings DeFi solutions to NFTs, allowing NFT holders to fractionalise NFT, obtain trustless loans and earn yield from NFTs.
With the rise of different NFT classes like collectibles, game assets and financial NFTs, our goal is to create an infrastructure where these NFTs can be used to obtain additional value.
BĂ Tân | : @alpha_noder Please say âDoneâ when you have finished the question, thank you.
Darius DOP | NDR : done đ
Bà Tân | : Question2. Polkastarter are big believers that the team and talent behind the project is one of the most important factors for success. Tell us more about the team behind Drops, and how your experience has led you here?
Darius DOP | NDR : I must say that we have quite a diverse and strong team. Together we have a great mixture of experience in product development, marketing, startups. Also most of us weâve been in crypto space since 2016.
My friend and cofounder Nick has financial background, worked at Morgan Stanley and Goldman Sachs.
Our CTO, Volodymyr has 13 years of development experience and a Masterâs Degree in Applied Mathematics. He has also worked as a solidity developer for 4 years.
Our CMO Alek has experience of running a 50 people blockchain marketing agency.
Rest of the product team consists of 8 seasoned developers that worked with DeFi, cybersecurity and fintech.
Our core team first started working together back in October, when we launched Node Runners â NFT based game (which is still active). I think that experience enabled us to bond together really well, learn a lot about the market and tech, and therefore âgive birthâ to Drops.
BĂ Tân | : Question3. So letâs talk about Drops competitive advantage. What differs you from other similar projects?
Darius DOP | NDR : We do have competitors in NFT loans and fractionalisation space, however we do things differently at Drops. Instead of doing peer to peer loans, which take much time and are difficult to scale, we are creating trustless NFT loans. Anyone holding a whitelisted NFT can obtain a loan without any permission. This also enables us to create NFT yield vaults, where users can use NFT for farming strategies. It hasnât been done before.
Our fractionalisation approach is also quite different, we enable users to retain ownership over NFTs once they have fractionned.
We also enable any NFT to be fractioned individually, so that even rare NFTs would get a fair evaluation and can be used as collateral later.
By combining our loans with fractionalisation we will enable users to earn yield from NFTs, just like itâs possible to do with major tokens in DeFi.
done
Bà Tân | : Question4. Can you tell our community a bit more about your $DOP token, particularly about the token utility and your token generation event (TGE)?
Darius DOP | NDR : DOP is at the core of our ecosystem, it has strong governance powers over Loan protocol and Fractionalisation pools.
There is On-chain and off-chainv oting by using the same mechanisms implemented in veCRV contracts.
On-chain users can vote on fees and DOP distribution and off chain with veDOP token users can vote on protocol direction.
Additionally users having a share in veDOP would be able to earn DOP, that is taken from the market via buybacks.
With regards to TGE, during the event roughly 1.4m tokens will go into circulation (out of 15m total), and our initial market cap will be at 680K
Our initial listing will be at one of the AMM Dex
done
BĂ Tân | : Question5. Weâd love to hear a bit more about your upcoming roadmap. What key features are you developing?
Darius DOP | NDR : In the last 5 months since we started Drops, our roadmap and product has gone through multiple interations and changes.
This week weâve launched our Loans on testnet. Just after IDO we will have liquidity mining program.
By the end of June we plan to launch NFT fractions, NFT Staking, Loans protocol mainnet.
For this yearâs Q3 â NFTs as collateral in loans, NFT Vaults, Deploy on Polygon and BSC.
Q4 â NFT price oracles.
done
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1392673210190028803).
Bà Tân | : Question1. @TommyBinh1
(https://twitter.com/TommyBinh1)A strong community is a good base for any project if you want to be successful. What is your plan for the global expansion and adoption with Drops?
Darius DOP | NDR : Though our ambassadors program weâre building global community around Drops. We already have communities in Vietnam, Russia & China. We have a strategy for growing them and great incentives to increase our awareness
done
Bà Tân | : Question2.@Lidiamga
(https://twitter.com/Lidiamga)One of the important features of Drops is the NFT price discoverability protocol which is a price discovery model that determines the realistic value of User NFTs. can you explain how this protocol works and how it is able to determine efficiently the realistic value of NFTs?
Darius DOP | NDR : Intially the base price of NFTs in the pool is set manually, usually by checking the price of cheapest NFT of the project / collection.
After that through arbitrage and market forces we will see price discoverability.
done.
Bà Tân | : Question3. @Shakilpk123
(https://twitter.com/Shakilpk123)Can you list 1â3 killer features of your project that makes it ahead of competitors? What is the competitive advantanges your platform has that you feel most confident about?
Darius DOP | NDR : NFT staking â stake NFTs to earn yield
Trustless NFT loans â use NFT as collateral to obtain a loan without permission.
Our main advantage is our own Loans protocol that is based on battle tested Compound Finance smart contracts.
It enables us to create trustless loans solution with NFTs as a collateral. That in turn will enable to generate yield from NFTs.
Also we will be accepting governance tokens of major NFT projects as collateral. This will attract new users and create new possibilities of what can be done with NFTs.
done
Bà Tân | : Question4. @MariaCahya3
(https://twitter.com/MariaCahya3)Which one is more important for you, token value or technology development? Which one do you prioritize for the sake of your project and why?
Darius DOP | NDR : We believe that product comes first, as itâs the fundamental thing that brings value to project. Without it token is worthless. Also with the right product and usage marketing and token awareness becomes easier and more sustainable as well
done
Bà Tân | : Question5.@quangle10444185
(https://twitter.com/quangle10444185)What is the role of token in the ecosystem? Where can people currently buy it?what would be its used?
Darius DOP | NDR : DOP token will serve as governance token of the protocol. It will be available on DEX and CEX on 21st of May. Also it will be possible to obtain it through liquidity mining program.
It would be used to vote on protocol rewards, fees, adding new projects to loans
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Sessions 3: The conversation will open to the community questions and the best questions will be selected.
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group Drops (https://t.me/drops_nft) , Drops Announcements (https://t.me/dropsnft) and IM Community (https://t.me/imcommunityitw) , Channel Im community
(https://t.me/imcommunityit)âŤď¸Follow: Twitter Drops (https://twitter.com/dropsnft) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đhttps://drops.co/
BĂ Tân | : Those who havenât joined @drops_nft group will not be eligible for AMA rewards, make sure you did.
Bà Tân | : COUNTDOWN
3
2
1
đJĹhn Lđ : awesome
Bà Tân | : Thanks for the questions from the community
Bà Tân | : @alpha_noder Pick the 5 best questions and answer it for session 3.
Q1. â´ď¸ Drops is an amazing project, almost have all types of services related to NFTs, but there one is missing, P2P NFT loans, so will you implement it as well?
Darius DOP | NDR : Peer to peer model with NFT works, but itâs not that scalable. Instead we tried to crack the code and deliver trustless NFT loans model, which is more efficient and opens more possibilities
Q2. âSTAKINGâ is one of the STRATEGIES to ATTRACT USERS and HOLD Them long term.Does your GREAT PROJECT have plan about Staking?
Darius DOP | NDR : Yes we will have liquidity mining program from the start. Also we will be implementing veCRV governance model for DOP token staking. Their model has proven to work and align everyones interests
Q3. DeFi is great. But for DeFi, the gas fee is crazy high on Ethereum. So, any plan to move on BSC or other layer-2 solution?
Darius DOP | NDR : Yes we will deploy also on Polygon so gas costs will be near zero
Q4. How important is the community to you? and how can we collaborate or help you for the development of the project?
Darius DOP | NDR : Community is at the core of our project. Through governance proposals, suggestions and feedback we will be improving our product
Q5. Do you have a Token Burning plan to increase Token value and attract Investors to invest?
Darius DOP | NDR : We will have buyback program. Collected fees from protocol will be used to buyback DOP, then distribute it to DOP stakers.
Bà Tân | : Thanks for the useful information from @alpha_noder
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @drops_nft for answers.
Darius DOP | NDR : thank you for great questions! đ
Bà Tân | : Allright, I declare the Im Community AMA with Drops has ended.
Thanks to @alpha_noder | Drops joined us and provided us with Drops information, we hope that this knowledge makes us understand more about https://drops.co/
To the members, thank you for following this event to the end. winners will be announced soon.
BĂ Tân | : Todayâs AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .
