BendDAO
BendDAO is a lending platform for NFTs that initially permitted users to borrow up to 40% of their collateral. A recent liquidation crisis has prompted a vote to reduce the liquidation threshold and simplify the process for exchanges to navigate. This also encouraged lenders to remain steady with a higher interest rate. The protocol enables immediate NFT-secured loans, Collateral Registration, and NFT Advance Payment. Borrowers are granted a 24-hour period for liquidation protection to pay back the loan.
