- BendDAO has 90,000 Ethereum (ETH) reserves.
- The current total number of BAYC, MAYC, Azuki, and CryptoPunks has reached new highs.
- BendDAO tokens can be purchased in down payments.
According to a recent tweet on Twitter by the reputable media outlet CryptoNewsLand (CNL), it was revealed that the Non-Fungible Token (NFT) financing arrangement of BendDAO has reserves of more than 90,000 Ethereum (ETH). On the BendDao platform, this represents a brand-new all-time high (ATH) point.
BenDAO is a peer-to-peer lending service that allows users to swap ETH for NFTs they put up as collateral.
Dune stated that the total number of BAYC, MAYC, Azuki, and CryptoPunks held as collateral by BendDAO has reached an all-time high of 430, 525, 337, and 66, respectively. These figures were obtained from recent data.
If the liquidation threshold for the collateral is set at 90%, for instance, the loan will be paid off as soon as the value of the debt equals 90% of the value of the collateral.
BendDAO tokens can also be purchased in down payments on four different marketplaces, which include the openSea exchange platform, LooksRare, Cryptopunks, and X2Y2. A successful down payment purchase is subject to a 1% down payment fee on top of the asking price, payable to BendDAO. Furthermore, NFTs listed on Bend Exchange will be charged a 2% trading fee to BendDAO following a successful trade.
A buyer may pay a minimum down payment of 60% to buy a blue-chip NFT from major NFT marketplaces while initiating a flash loan from AAVE to cover the remainder.
The current price of BendDAO is $0.03626, representing a gain of 33.00% over the last 24 hours, with a volume of $3,109,466 indicating a growth of 17.15%.
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Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.
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- Source: https://cryptonewsland.com/benddao-has-more-than-90000-ethereum-reserves-a-record-high/
