Drops

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

Drops's governance or utility token carries a market capitalisation of 38,4 mil US$ based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (38,4 mil US$) above the protocol's on-chain TVL (13 mil US$) — a mcap/TVL multiple of 2.96× implies investors are paying for expected future fee flows rather than current deposits alone.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Eventos importantes señalados por la comunidad de DeFiLlama — lanzamientos del protocolo, exploits, cambios de gobernanza y programas de incentivos.

1. Dec 8, 2021
   Listado en DeFiLlama
2. May 20, 2022
   DOP staking
3. May 4, 2022
   Drops DAO launch

Drops is a NFT Lending protocol that lets users supply assets as collateral, borrow against them, and earn interest from borrowers paying variable or stable rates. It is deployed on Ethereum. DeFiLlama tracks 2 historical events for this protocol since 2022.

Drops is a single-chain protocol, deployed exclusively on Ethereum — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Ethereum-borrowed, borrowed, Ethereum), so a fault on any one of them would affect a large slice of users. Its token market cap (38,4 mil US$) currently exceeds total value locked (13 mil US$) — a mcap/TVL ratio of 2.96 suggests the market is pricing in more growth than current deposits support.

Verified external resources for Drops — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Drops is one of 7 NFT Lending protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Blur Lending, Bitty, Gondi V3, and 3 more. These peer protocols collectively secure 3,4 M US$ in deposits, giving you a frame of reference for whether Drops's own TVL is at the top, middle, or tail of the category.

Blur Lending

TVL 1,3 M US$ · 24h +0.62%

Bitty

TVL 546,5 mil US$ · 24h +0.56%

Gondi V3

TVL 526,9 mil US$ · 24h +0.73%

JPEG'd

TVL 499,7 mil US$ · 24h +0.67%

Arcade.xyz

TVL 334,9 mil US$

Sharky

TVL 178,2 mil US$ · 24h +6.22%