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BendDAO is the first decentralized peer-to-pool based NFT liquidity protocol. Depositors provide ETH liquidity to the lending pool to earn interest, while borrowers are able to borrow ETH through the lending pool using NFTs as collateral instantly. Bend protocol enables NFT assets to be pooled and converted into representing ERC721 boundNFTs to realize NFT loans.

NFT as Collaterals to Borrow ETH

Borrowers (NFT holders) will bundle NFT into one separate token (boundNFT) through BendDAO Protocol in order to function as a single unit of collateral.

Details are listed as follows:

  • Initiate an instant NFT loan contract to borrow ETH from the pool
  • Maintain NFT collateral ratio by repaying ETH anytime
  • Get back the NFT when paying off the NFT loan

Depositors/ lenders will be able to:

  • Deposit/withdraw ETH to the reserve pools
  • Earn yields by providing liquidity
BEND Token Allocation
Group Allocation Vesting Period
Developer Team 21% 1-year locked and then linearly released in 3 years
Initial Fair-launch Offering 10% Offering in 90 days
Treasury Reserve 21% Lockup in treasury, decided by the community
Airdrop 5% Airdrop in 90 days, 100% TGE
Uniswap LP Incentive (by Governance) 3% Decided by the community
Lend/Borrow Incentive 40% Vested when mainnet online, linearly released in 5 years, Lend/Borrow Incentive ratio is 1:3