Drops Ownership Power (DOP) is the governance ERC20 token of Drops DAO. It allows for the delegation of liquidity incentives among lending pools and plays a crucial role in determining the future of Drops DAO. Drops DAO specializes in providing loans for NFT and DeFi assets, offering much-needed utility to these assets.

The protocol operates through lending pools that accept various types of NFT assets as collateral, ranging from collectibles and metaverse items to financial NFTs. Users can leverage their idle NFTs and DeFi tokens to obtain loans and earn additional yield.

Currently, DOP serves two primary purposes: voting and staking. The development of boosting liquidity rewards in lending pools is underway.

To participate in voting and staking, users must lock their DOP tokens to acquire veDOP.

veDOP, short for vote-escrowed DOP, represents DOP tokens that have been locked for a specific period. The longer the duration of the lock, the greater the amount of veDOP received.

Drops is a platform that brings decentralized finance (DeFi) infrastructure to non-fungible tokens (NFTs), providing essential utility to unused NFT assets.

The developers aim to merge NFTs and DeFi, creating a platform that focuses on NFT assets and their use; it is built on the second-layer scaling solution Polygon. Drops users can use their NFT assets to receive trustless loans and yield farm, thereby reducing the opportunity cost of long-term storage.

The platform is developed by the Node Runners team. Drops directly connects digital art collectors with art creators. The platform will host limited-edition artwork releases that users can take part in via a raffle. The mechanism ensures fair competition and increases accessibility. Everyone is able to view the artworks, but in order to purchase one, a user has to take part in a raffle.

Drops was first announced in February 2021. In early May 2021, the platform announced the end of its private funding round, having secured nearly $1 million from private investors such as Axia8 Ventures, AU21, Bitscale Capital, D64 Ventures, Blocksync, Drops Ventures, Genblock, and X21.

Besides Polygon, Drops' other strategic partners include Polkastarter, Quantstamp, 0xb1, Biconomy, Kyros Ventures, PetRock Capital, and Blockstar Technologies Inc.

Drops was founded by Darius Kozlovskis. He is also the founder and CTO of Vizituentr and, formerly, a director of ICO Bulls. Kozlovskis has seven years of experience as a developer and product manager.

His co-founder Nikita Ufimcev has a banking and finance background, having previously worked for Morgan Stanley and Goldman Sachs. Since 2016 he has been an active entrepreneur, having joined the crypto space back in 2017 as a business developer.

The creators of Drops have set out with a goal of building an infrastructure that will preserve the value of NFTs in the long term and allow users to generate income from their non-fungible assets. To achieve this, Drops offers DeFi solutions that allow holders to fractionalize NFTs, obtain trustless loans, and earn yield.

Drops integrates NFT assets with the DeFi ecosystem by using the dNFT fractionalization protocol. It combines NFT assets and converts them into ERC-20 tokens.

With dNFTs, users can access fungible liquidity backed by NFT assets, borrow cryptocurrency using dNFT tokens as collateral, and profit from assets by participating in real crop growing strategies via dNFT vaults.

In the future, the platform plans to accept governance tokens of major NFT projects as collateral in order to give users more opportunities.

DOP is the utility token of the Drops' ecosystem and acts as the primary method for buying and selling NFTs. DOP is used to pay out both liquidity mining rewards and cashback for purchases made on the platform. Users can stake DOP tokens to earn non-transferable coupons called dPoints. Furthermore, users have the right to vote on the collection and distribution of DOP, and, in the near future, DOP will be involved in participation in NFT raffles.

The DOP token is the core of the entire ecosystem. It is used to manage the main functionality of the Drops platform, including the loan protocol and fractionalization pools. Together with the original Node Runners (NDR) token, DOP will be used in a hybrid governance model.

The public launch of the DOP token will take place on May 21. An initial dex offering (IDO) will occur on Polkastarter. $200,000 of DOP will be available through the sale of 333,333 tokens at an IDO price of $0.60 per token.

During the token generation event (TGE), about 1.4 million tokens will go into circulation, out of a total supply of 15 million DOP. The distribution of tokens is as follows: 10% to the team, 69.12% to the foundation, 2% to the advisors, 16.66% to the private sale, and 2.22% to the public sale.

The platform is built on the Ethereum Virtual Machine (EVM) and Polygon network. DOP tokens are secured by their parent blockchain, which is Ethereum. Drops also supports second-layer Polygon scaling to facilitate transactions, which uses a network of proof-of-stake (PoS) validators to secure assets.

Drops' loan protocol is based on Compound Finance smart contracts, allowing users to generate yield from NFTs while creating trustless loan solutions with NFTs as collateral.

As of May 2021, the DOP token is not listed for trading on any exchanges.

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