BendDAO Overview

What is BendDAO?

An NFT lending service offering instant NFT-backed loans with up to 40% collateral and a 24-hour liquidation protection period. Recently, a vote was made to lower the liquidation threshold to make exchanges easier and entice lenders to stay with higher interest rates. The protocol also supports Collateral Listing and NFT Down Payment.

Main Features
NFT management
Auctions
Asset staking
Passive income through yield and rewards
Options for buying NFTs with a down payment or listing them as collateral for loans
Blockchains
Ethereum

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Frequently asked questions

To manage your NFTs on BendDAO, you need to connect your wallet to the platform. Once connected, you can access the "My NFTs" section, where you will find an overview of the NFTs you own. You can also view your yield and rewards, ape staking, borrow history, repay history, active bids, offers, inactive orders, custody, and settings related to your NFTs. Additionally, you can deposit your NFTs as collateral or borrow liquidity using them.

On the platform, there are several options for earning passive income. These include:

  1. Yield and rewards: By depositing ETH or USDT into the Lend Pool, you can earn passive income through the deposit APR. The current ETH deposit APR is 4.88%, and the USDT deposit APR is 4.39%.

  2. Borrows: You can earn additional rewards by borrowing. The current ETH borrow APR is 3.77%, and the USDT borrow APR is 18.39%.

  3. BEND Staking: By staking BEND tokens, you can earn ETH rewards. The current staking APR is 0%.

  4. Liquidity mining: By staking LP tokens, you can earn BEND rewards. The staking APR for liquidity mining is 27%.

These options provide opportunities for users to earn passive income on the platform.

To participate in auctions, you need to connect your wallet to the platform. Once connected, you can bid on NFT loans in auctions. You can view and manage your active bids in the "Auctions" section of your account dashboard.

The benefits of staking assets on BendDAO include earning ETH rewards, passive income, and protocol fee rewards. By staking BEND tokens, users can earn ETH rewards. Additionally, users can earn passive income by depositing assets such as ETH and USDT, which earn interest and rewards. Staking LP tokens in liquidity mining also allows users to earn BEND rewards. Overall, staking assets on BendDAO provides opportunities for users to earn rewards and generate income.

The custody settings available on BendDAO include:

  1. Deposit: Users can deposit ETH and USDT into the Lend Pool to provide liquidity for borrowers.
  2. Withdraw: Users can withdraw their deposited ETH and USDT from the Lend Pool.
  3. Yield: Users can earn passive income by depositing ETH and USDT and earning interest and rewards.
  4. Borrows: Users can borrow ETH and USDT and earn additional rewards.
  5. BEND Staking: Users can stake BEND tokens to earn ETH rewards.
  6. Liquidity mining: Users can stake LP tokens to earn BEND rewards.
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