BendDAO has More than 90,000 Ethereum Reserves, a Record High

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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Munene Kelvin

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.