Drops DAO Mainnet Finally Goes Live, Adding NFTs As Collateral | CryptoSoul

Drops DAO Mainnet Finally Goes Live, Adding NFTs As Collateral

Drops DAO, a decentralized lending network based in Lithuania, has officially announced that its mainnet version will go online on Wednesday, May 4, 2022. The mainnet’s debut gives users and community members access to the Drops ecosystem, allowing them to interact with and use all of the ecosystem’s features.

Drops DAO’s mainnet launch allows users to utilize their non-fungible tokens (NFTs), metaverse assets, and DeFi tokens as collateral to borrow money through the platform’s lending facilities. According to the team’s announcement, this will provide much-needed liquidity and utility to the NFT and DeFi ecosystems. Drops DAO, on the other hand, eliminates the necessity for middlemen in the lending system, highlighting the benefits of decentralized protocols.