BendDAO revolutionizes DeFi with instant NFT-backed loans, flexible collateralization, and a $BEND governance token for active community participation. More
| Fully Diluted Valuation | $2.43M |
|---|---|
| 24H Trading Volume | $3,466 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 3.01 B |
| Total Supply | 10.00 B |
| Max Supply | 10.00 B |
| Categories | Decentralized Finance (DeFi) 5 more |
|---|---|
| Founder | Anonymous |
| Website | docs.benddao.xyz |
| Socials | 2 more |
| Chains | Ethereum Ecosystem |
| Explorer | Arkhamintelligence 2 more |
| Contracts | 0x0d0....56218 |
| Name | Pair | OG Score |
|---|
In the rapidly evolving landscape of decentralized finance (DeFi), BendDAO emerges as a trailblazing protocol, introducing a paradigm shift in NFT liquidity and lending. At its core, BendDAO is a decentralized peer-to-pool NFT liquidity protocol that facilitates seamless borrowing and lending experiences for users. NFT holders can leverage their assets by instantly borrowing ETH from the lending pool, using their NFTs as collateral. This innovative approach not only empowers borrowers with instant liquidity but also allows depositors to earn passive income by providing ETH liquidity to the lending pool.
The uniqueness of BendDAO lies in its ability to transform NFT assets into ERC721 boundNFTs, creating a novel way to collateralize NFT loans. Borrowers bundle their NFTs into a single unit of collateral, known as boundNFT, through the Bend Protocol. This collateralization method ensures a flexible collateral ratio, allowing borrowers to initiate instant NFT loan contracts, repay ETH at any time to maintain the collateral ratio, and retrieve their NFTs upon repayment. Furthermore, BendDAO introduces groundbreaking features like Collateral Listing and NFT Down Payment, forming a comprehensive closed loop for users. Sellers can choose to receive up to 40% of the floor value of their NFT listing instantly, funded by the BendDAO lending pool. This not only enhances liquidity for blue-chip NFT holders but also facilitates a smooth process for NFT down payments, borrowing, and listing within a single protocol.
The governance of BendDAO is facilitated through its native token, $BEND. Token holders can stake $BEND to acquire vote-escrowed $veBEND, unlocking the power of both voting and earning within the BendDAO ecosystem. This innovative governance mechanism aligns the interests of the community with the evolution of the protocol, ensuring a decentralized and sustainable future. In essence, BendDAO stands as a pioneering force in the DeFi space, offering a one-stop NFT liquidity solution that caters to the needs of both depositors seeking passive income and borrowers in pursuit of instant NFT-backed loans.
BendDAO stands out for pioneering instant NFT-backed loans, flexible collateralization through boundNFTs, and $BEND governance token for active participation.
BendDAO takes a unique approach to anonymity. They operate under pseudonyms and haven't publicly revealed the identities of their core team members.
BendDAO has garnered support from backers and investors such as Paradigm, a16z, Bain Capital Ventures, Pantera Capital and others.
You can buy BendDAO (BEND) on CoinEx, Uniswap V2 (Ethereum) cryptocurrency exchanges.
