BEND(Bend Dao) Project Analysis
1.Research Institute Short Comment
BendDAO belongs to the NFT class of lending products and is now the 1st largest position address of Mutant Ape MAYC and the 5th largest position address of Bored Ape BAYC. Although the overall liquidity of the NFT market is poor, in comparison, Blue Chip NFT has gathered the best liquidity in the NFT market, and the project's current agreement lock value TVL has exceeded 32,000 ETH, indicating that the project itself has been recognized by the market. In addition, the team comes from a technical background, and the contract has been audited by certik, which is also guaranteed in terms of security. Moreover, nft class lending belongs to the sunrise track, with a broader development prospect, and BendDAO, as the leader of this track, is worthy of long-term attention.
2.Recent breaking point
Project side completed IFO; NFT market is hot
BendDAO is the first peer-to-peer pool NFT liquidity protocol created based on decentralized technology. Depositors can earn interest by providing ETH liquidity to the loan pool, while borrowers can use specific types of blue-chip NFT as collateral to borrow ETH through the loan pool. the Bend protocol solves the NFT liquidity problem by converting NFT assets into ERC721-compliant boundNFT to enable NFT lending.
bend tokens can get Vebend by pledging, Vebend can get 100% of the income of the protocol and get certain voting rights.
Total volume: 10 billion
Lending incentive: 40%
Team development: 21%
Treasury storage: 21%
uni LP Incentive: 3%
NFT mortgage lending is a brand new track, and its market size will grow significantly with the development of the nft industry, but because of various restrictions, there are no star projects in the track that can run yet. bendDAO pushes the envelope on the basis of the original peer-to-peer lending, creating a new model of peer-to-peer pooling, and therefore has a certain first-mover advantage. And the project itself, which currently has a large number of blue chip nft in hand, validates its market viability. In the future, Bend dao is expected to become the aave of the nft world and the leading project in NFT secured lending.
Token name: bend
Project website: https://www.benddao.xyz/
Bend is a decentralized non-custodial NFT-backed lending protocol in which users can participate as depositors or borrowers. Depositors provide ETH liquidity to the lending pool to earn passive income, while borrowers are able to borrow ETH instantly through the lending pool using NFTs as collateral.
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