We are pleased to announce our next AMA on April 22nd 2021 at 03:00 PM UTC Time: Satoshi Club x Drops
⚠️Click to see the hour
⚠️Total Reward pool: $500 + 2 whitelisted addresses
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Drops Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 150$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Drops Team will select 10 questions and answer them.
Part 3: 2 whitelisted addresses + 250$ – A quiz about Drops
For more details:
Drops Website – drops.co
Drops Telegram – @drops_nft
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Drops will be partnering with various NFT Projects
Do you have plan that their NFTs will be stakable in dedicated pools?
Is smart contracts security, is Drops top priority, and will your smart contracts go through audit from multiple firms?
Is Drops have plan to enable a more permissionless way to stake NFTs?
The Drops platform will allow users to acquire new NFTS more fairly, as well as stake them to obtain returns or obtain loans, all through transactions without gas on Polygon. Currently one of the problems is the immobility of NFT Ethereum-based NFT assets. What solution does Drops present to this problem? Will users also be able to obtain loans through NFT?
In the world of Ethereum-based NFTs we have hit a brick wall in terms of utility and mobility due to high gas rates. This is mainly due to high transaction fees (gas), which have made the minting, buying, selling or shipping of NFT assets is excessively expensive. NFT-related gas costs routinely exceed the value of NFT’s own assets, a simply unsustainable trend. In which chain does Drops work? Detail the benefits? How do you deal with the problems that currently exist in the market as a result of Ethereum?
Drops will facilitate fast and virtually free transactions allowing users to use the platform without having to worry about fees. Ethereum primarily carries high transaction fees (gas), which have made minting, buying, selling, or shipping NFT assets excessively expensive. What are the costs incurred by Drops? What benefits do I get with Drops in terms of offers? What network do they apply to carry out transactions?
There is currently a lack of NFT profit despite NFT’s total market capitalization and sales volumes growing at exponential rates. How does Drops intend to eradicate these limitations? How will you capture the value of each NFT involved? NFT-related gas costs typically exceed the value of Ethereum’s own parallel NFT assets. How will Drops distribute these NFTs? Will Drops allow users to acquire new NFTs?
Through Vaults Drops will bring additional utility to NFT assets by allowing users to stake their NFTS on “Vaults” to gain performance in dPoints. Users will also be able to obtain loans by betting their NFTS as collateral. Drops will facilitate fast and virtually free transactions. What security mechanism does Drops implement to improve the user experience and security? What chain do you operate under to achieve a quick experience? Once the NFTs have been wagered on Vaults Drops, it will not be possible to return?
Drops will facilitate fast and virtually free transactions allowing users to use the platform without having to worry about fees. As we well know the utility of NFT assets also remains very limited compared to assets in the decentralized finance (DeFi) space. What system to implement Drops at the time of distribution to eliminate the limitations? What platform will you use for transactions?
I understand that I can bet my ERC115 and ERC721 NFT assets in betting pools and get rewards in the form of dPoint tokens. In its current form, the NFT infrastructure lags far behind that of DeFi, failing to capture the full value and utility of the tokens involved. What solutions does Drops present to this problem? How does NFT Staking and Loans work through Vaults?
Potential buyers of NFT and digital artists find it difficult to participate fairly in the NFT market. For buyers, this is due to high gas costs and more sophisticated users preparing them for new versions of NFT. For new digital artists, it’s because they find it difficult to get exposure among more established names. This has resulted in an uneven playing field for the average NFT user, who is fighting an uphill battle against wealthier and more established participants. Does drops present any solution to eradicate unequal participation? How to know if participation is really fair? What participation mechanism apply in the Drops structure?
Currently we NFT buyers are a bit handicapped by high gas costs. What solution does Drops propose to put buyers and digital artists in a single parity? Can NFT Staking Drops stake your ERC115 and ERC721 assets? In which token do I get my reward?
NFT immobility Ethereum-based NFT assets have hit a brick wall in terms of utility and mobility. This is mainly due to high transaction fees (gas), which have made the minting, buying, selling or shipping of NFT assets excessively expensive. NFT-related gas costs routinely exceed the value of NFT’s own assets, a simply unsustainable trend. Drops has Layer-2 Polygon scaling, to facilitate transactions. Does this in turn influence transaction fees? What other benefits can I get with Drops?
The loan markets have provided broad utility to crypto assets within the DeFi space. Likewise, credit markets will provide additional utility and value to NFT assets. For new digital artists, they find it difficult to get exposure among more established names. This has resulted in an uneven playing field for the average NFT user. In how many levels does Drops classify users? What is the selection mechanism?
On your platform, you give artist the opportunity to stake NFT and earn dpoints, are artists only the one given opportunity to showcase their project on your platform. What are the utility of the dpoint when you earn it, can they be cross changed to usdt on your platform.
I see that they have a form on the page where users can apply as artists creators of NFTs. What are the requirements that are taken into account to consider a proven artist user and what benefits can they obtain on their page, what will the work be?
Are there rules to be able to market our NFTs? Should they be made under the criteria of the DROPS platform or our collectibles, already ready for a long time, can they simply be exported directly to the vault to be able to bet?
How do you know the value and rarity of an NFT on the DROPS platform, is any additional activity required after creation to add that value?
When a user engages a platform, that means there are things they present to them that others do not. Nowadays we have more and more NFT markets starting everyday but on the other hand there is always an opportunity people/users sees in the winning NFT market that they do not see in the normal NFT market. What are the opportunities that makes your platform stand out amidst others, because these things are what makes user attached to a specific NFT market.
Recently, in NFT market place we are always having some issues like copyright issues, do you have a way you look at the issue of copyright in your NFT market or do you have any plan of creating a p2p that enhance communication among users that sells and buys in your marketplace.
The Drops network will allow users to obtain new NFTS in the most equitable way, as well as bet to acquire performance, loans, etc., all through transactions without gas on Polygon. Currently one of the problems is the immobility of NFT Ethereum-based NFT assets. What solutions does Drops present to this problem? Will users also be able to acquire loans or capital through NFT?
When users stake their ERC 115 and ERC 721 NFT assets in your staking pools and earn rewards in form of dpoints, you talked about how the staking pool will be sorted in 3 tiers. Can you explain further on this 3 tiers and are the dpoints rewarded annually or monthly. How can this dpoints also be utilized on your platform or in other platforms.
We know that Drops will facilitate fast and virtually free transactions by giving users permission to use the platform without worrying about fees.We know that Ethereum has high transaction fees (gas), which have made minting, buying and selling or shipment of NFT assets is extremely expensive. What are the costs of Drops? What benefits can I get with Drops on the subject of offers? What platform do you apply to make the exchanges?
In your private sale that is coming soon, there was some explanation regarding how tickets will be purchased and how they will choose people through raffle draw. I will like to know if the whitelist is limited alone to artists and what are the requirements to participate in the raffle draw. In purchasing of the tickets are there plans against bots that try to purchase a lot and leave real users with nothing, how do you plan to promote equity and fairness in your private sale round
How do you plan to reduce the rising cost of using the ethereum network which makes it exceedingly expensive to mint, buy, sell or send NFT tokens. What are the approaches drop have to this and how do you plan to stay long in the market without any copyright or legal issues.
This year is the NFT year and NFT sales have grown more than 10x. Also the NFT marketplace volumes increased accordingly like the OpenSea. But all of these NFT’s are just waiting on wallets for being sold with no other usage. What are the technologies you are developing for creating extra utilities for NFT’s?
An interesting feature provided by the Drops platform is the “NFT Drop events” which is geared towards providing exposure to new digital creators as well as creating a level playing ground for the acquisition of new NFT artworks. These events are both public and private, with public events opened to participation by anyone while private events are restricted with participation tied to certain criteria. What are the necessary conditions one needs to satisfy in order to participate in Drops private events and is there a limit to the number of participants in the public and private Drop events?
Drops users will be able to earn a return on their NFTs, by depositing them into Vaults to earn dPoint tokens. What is difference between dpoint tokens and Drop tokens?
Drops platform will be built on the Matic Network. Can you tell us a little bit about how your experience was building on Matic Network? What are the advantages and benefits of Drops working with Matic Network?
With Drops NFT to ERC minting, there are two options available to customers; Basic & Lockup. With particular emphasis on the Lockup option where users lock up their NFT assets without submitting it to a pool, how are the lock up periods and the expected accrued rewards calculated and distributed over time, is there a minimum lock up period or time frame a holder must meet in order to increase liquidity on locked assets and how can a holder extend their lockup period if desired?
DROPS ecosystem have governance voting system for letting the community deciding for certain things. DROPS and NFR tokens from each holders are calculated as dVote and they can vote for fees on the platform. Do you plan to extend the governance with letting community vote for artists? Right now artist can apply via the form on your website and you are deciding it yourself. Do you think you can let the community decide for the artists being listed on the platform?
I see when research about the DROPS I see that you already have really good partnerships and projects like Polygon, Cometh, Eth-men, Doki etc… Can you tell us what are the relationships and achievements these partnerships and projects are bringing to DROPS and what features do you want from a project for selecting it as a partner?
In this market where NFTs are currently the new business in which everyone wants to participate, what makes Drops different and special, what are the tools and opportunities that you offer your users that make you worthy of their joining your project?
How easy and fast is it to earn dPoints and what are the opportunities that these offer to their holders?
How does Drops make NFT fungible and can then be converted into ERC20 tokens, can you explain how this mechanism works and who makes it possible?
Currently which are the ERC20 tokens associated with Drops and can you tell us if we can expect new additions soon?
We recently took into account a lack of NFT utility even though NFT’s total market capitalization and sales and rates are growing exponentially. How Drops intends to break these limits? How do they capture the value of each NFT involved? Gas prices associated with NFT routinely exceed the value of NFT assets parallel to Ethereum. Drops what strategy will you use to distribute these NFTs?
Where do you get the revenue for Drops? You are providing gasless transactions and so much possibilities for NFT owners like NFT staking, NFT fractions, trustless NFT loans and NFT yield vaults. But what are the fees on your platform?
ARE THE DPOINTS, APART FROM BEING USED AS COUPONS TO BUY ON THE PLATFORM, EXCHANGEABLE FOR $DROP TOKENS?
DO YOU REQUIRE A MINIMUM PURCHASE AMOUNT TO QUALIFY FOR THE 5% CASH BACK REWARD FOR EACH PURCHASE MADE?
WHAT DEVELOPMENT PROTOCOL HAVE YOU IMPLEMENTED TO BE ABLE TO CONVERT NFT TO ERC20 TOKENS OR HOW IS IT THAT YOU HAVE BEEN ABLE TO DO THIS AND IS IT POSSIBLE THAT YOU CAN CONVERT AN ERC20 TOKEN TO AN NFT?
You seek to level the playing field for buyers and creators through a fair distribution system, can you explain how you can make the NFT-backed loans fair for all and what are your fees based on?
You are implementing a raffle ticked-based system for new NFT releases, it’s called “drops” can you tell us what are the basic problems that this mechanism faces and how promising is for keeping the sustainability of your project?
NFT vault has a tokens called dPoint this Token that guarantees us with this Vault what kind of utility it has, how can we take advantage of it?
How does the dpoint tokens rescue the weight of the NFT Vault through the vote, this is like a governance if the changes that the government wants is applied how often would it be?
Drops would then be a lottery system where pioneers win and those who want to win would buy more expensive as time goes by, but okay, this is the system to acquire drops, but these drops, who gives them the value as such and how are they evaluated?
I saw you’ll be giving cashback rewards that will be dependent on the amount of Liquidity Provider tokens staked by the user, can you explain how does this cashback work and what are its limitations?
The NFTs staking is on of the innovations you created to give real utility to your non-fungible-tokens, it says on your whitepaper that it can be distributed in three tiers that will be asigned to staking pools via governance voting, but who has really access to this votings? Who are the real contributors of your governance model?
You mention that with Drops you can convert the NFTs to ERC20, but do you really mean to bet the NFTs and get any other ERC20 tokens? or is there really a way to convert a NFT into an ERC20 tokens?
If really the greatest utility of NFTs is to use them as collectibles, if so, why would a user really want to borrow or pay to use an NFT for a limited time?
You point out that the Drops platform will be built on the Matic Network, offering a no-gas experience, but how will MATIC really relate the NFTs to an ERC20 tokens if it is really part of another chain?
Could you tell us a little about the raffle tickets to be able to opt for some NFT tokens? could anyone really buy those tickets? Or will it require some KYC and be the holder of a certain amount of tokens?
He pointed out on his platform that NFT tokens can be given multiple uses with Drops, but could you really tell us about the characteristics that this Art will have? Will it be on a specific topic or can any user create it at will?
Talking about your dPoints tokens, could you tell us what utilities it will make? And besides this, could you mention them on which platforms are they listed? or can we really only get them by stake and foolishness?
All the utilities you describe on your website for NFT tokens will only be compatible with the native Art of your platform? or can the Vault be used with NFT from other platforms?
Could you really tell us what the ultimate goal of Drops is? is it simply becoming a pioneer platform in various NFT utilities? or would it be able to develop NFTs for the MATIC chain?
Could Drops be associated with NFT gaming platforms in the near future to further increase the adoption of each of these games, allowing even gamers to earn even more profit?
We really all know that NFT tokens have great potential, which many projects only use a small part of it, now that Drops implements more utilities, would this be all the power of the NFT? or is there really much more to develop?
It is a nice thing to know that we can stake NFT on drop. But what is not clear is which type of NFT can i stake? Can i stake any random NFT i bought on Opensea? Also, the staking pools is divided into three tiers with different rewards. Tier 1 has the maximum reward and i would love to be that but i don’t know the requirements for that. What are the requirement for each pools?
Your system is made up of mainly three token – DOP, dPoint, dVote. There are some platform with multiple tokens like this with separate wallet and some with same wallet. I want to know if we would need different wallet to store each of this wallet? Is it possible to withdraw the three tokens independently or we will need to convert them to a particular token before we can withdraw? Can you just throw more light to the token system?
You have successfully completed your private sale which is a very good development. We could not participate in the private sale but of course, a Public sale is opened for everyone. We are anticipating the public sale. You don’t have any public announcement about it but can you give us an hint about it here? On which platform will you have public sale? Will it be an IDO or an ICO or any other form of offering?
I was surfing through your social media page and i saw a tweet talking about Nft bridge to polygon. This is a very interesting topic. Most NFTs are operating on the ethereum network with high charges. When i saw that, i wondered if you really meant a scalable and interoperable bridge. What will be the features of the bridge? Is that an aspect of the layer 2 scaling?
One of the features of drops i will like to ask questions about is the “NFT loan”. To get a loan, we will have to put down a collateral which includes NFT. Apart from using NFT as collateral, what are the other assests we can use as collateral? NFTs are non-fungible tokens and there’s a way we can convert it to fungible tokens and then use it as collateral. Can we use any NFT as collateral? I also saw a place you talked about dNFT token, how can it be used for obtaining a loan? Will you need any KYC or any other form of verification?
I find the Drops’ idea of making NFTs fungible by converting to ERC20 tokens confusing.. Why not create a simple token instead and use that for the liquidity pool? What benefits brings the idea of wrapping NFTs back to fungible tokens compared to the regular tokens that many platforms use
Could you tell us how the NFT vault will estimate NFT value when calculating the yield APY? If it is based on the last purchase price, how will you prevent users from selling the NFT to themselves at exorbitant price and then staking it for huge staking/farming gains?
Drops deck mentions plans of bridging NFT assets from other chains. Cross-chain support is a huge step to becoming a global project IMO! What chains do you plan to expand to? Do you already have some planned partnerships based in other chains?
For each purchase, I can get up to 5% cashback in DROP tokens. Does cashback accrue instantly from each purchase or after a certain period, for example, a week or a month? What determines the% of cashback accrual and are there any situations when it is not credited at all or burns out? And where can I then spend my cashback?
In your project roadmap, what are some of the most challenging experiences you and your team members have had so far?
In addition to the DROP utility token, you also have the NDR governance token. What other important functions do they perform and can users own both tokens? Are there any special conditions for obtaining them?
On your platform, can I use NFT assets for permissionless and trustless lending? What does this whole process look like, how are NFTs valued and can i offer my price?
I understand Drops project able to stake NFT to get NFT, but there are few variant and rarity from your NFT, can you explain what are the use of ‘rarity’ for your NFT?
We know that with each passing day the crypto world grows more and more, what do you think to do about the security of its users?
I just check your whitepaper that you mention every user possible to stake NFT asset from erc71 & erc115 on stake pool, is that mean all NFT even from other project can be stake in Drops stake pool or its limited only to Drops project and partner? Speak of partner, which project already doing partner with Drops?
What is the strategy used by Your Project to attract new users and investors and keep them in the long term?
What can you offer regarding speed of transactions and fees? to attract more investors and enthusiasts?
What is the strategy usedWhat is your strongest advantage that you think will make your team leading the market? and In contrast, what is your weakness? How do you plan to overcome it? by
What is your advantage over other projects? Is it from a security point of view or the technology you are using? Or are there other advantages? What makes you believe that your project is worth choosing?
After I check your platform, I found that I can choose 2 way for minting NFT in ERC20. First is ‘Basic’ and second is ‘Lockup’. Can you explain what is the meaning for each option? What is the requirement for new investor to do mint NFT in your platform? If you dont mind please give recommendation which option we should choose to minting NFT ‘Basic or lockup’?