With the ever so growing progress and development being made in the creativity in the Web3 space new use cases are being rolled out. One, in particular, I believe will usher in new liquidity into the overall Cryptocurrency and NFT market. The innovative and creative development of NFT lending and borrowing is creating a new form of instant liquidity in the NFT market. Right now currently, I see Bend Dao as a pioneer in providing liquidity for Blue Chip NFTs, allowing owners to gain access to Liquidity without having to depart in trade or sale with their Jpegs.
“Bend is a peer-to-pool based NFT liquidity protocol. Borrowers are able to borrow ETH through a lending pool using NFTs as collateral instantly. Depositors can provide ETH liquidity to the lending pool to earn interest.
With Instant NFT-backed Loan, 48h Liquidation Protection, and boundNFT features, Bend DAO empowers Web3 data to be liquid.”(Bend Dao)
Bend Dao integrates a governance voting model via Snapshot for the governance of the protocol, incentivizing members to be active within the governance process to determine critical aspects of quality and design. The launch of this NFT Liquidity protocol was innovative because of the Initial Fair Offering of the IFO.
- NO VC;
- NO presale;
- NO whitelist;
- 100% of income goes to token holders.
The total initial supply of BEND is 10 billion (10,000,000,000). The token distribution breaks down as follows:
This is where the innovation occurred, Bend Dao realized that its community would be extremely important in helping identify the parameters of the protocol and the overall development and success of the project. Allocating an Airdrop to users, incentivized people to increase the value of the underlying token by participating and being good stewards of the community and project.
The innovative and creative UX/UI of Bend Dao reminds me of an effective and easy-to-use DeFi platform. But, when we actually take everything into consideration Bend Dao is the intersection of two interesting and valuable markets DeFi and NFTs. By creating a borrowing and lending platform, with attractive APR for both ETH and BEND, the protocol incentivizes users to earn good APR, in a variety of ways.
Bend Dao currently supports the following designated collections
The current Deposit & Borrow TVL 54,561.95 ETH or 156,668,091.991 USD. With an audited protocol backed by a strong team and a growing Dao. Other competitors are currently months behind, and Bend Dao seems like an early innovator in this space. This is not Financial Advice and I suggest you take a look for yourself, prior to making any investment decisions.
However, with the increase in development and creativity in the Web3 space, I see creating a liquidity market of digital and non-digital assets as a growing innovative sector in blockchain and asset classes.
DAO, B. (2022, March 29). Bend Dao integrates chainlink keepers to help decentralize automation of fee distribution. Medium. Retrieved April 25, 2022, from https://medium.com/@BendDAO/bend-dao-integrates-chainlink-keepers-to-help-decentralize-automation-of-fee-distribution-7fac548fb1d6
Bend Token Distribution. Bendenomics — Portal. (n.d.). Retrieved April 25, 2022, from https://docs.benddao.xyz/portal/governance/bendenomics
