BendDAO contract now has only 15 ETH left to pay lenders
Many nonfungible tokens (NFTs) that were used as collateral in the platform have defaulted without any bids. Lending protocol BendDAO has run out of Wrapped Ether (wETH) in its contract. At the time of writing, the contract only has 15 WETH to pay lenders, and an estimated 15,000 Ether (ETH) left to be paid to lenders. Researcher NFTStatistics.eth dissected the issue in a Twitter thread, highlighting that NFT borrowers in the platform should now pay 100% interest on the ETH they borrowed. In addition, the debt positioned against the NFTs is also on the rise. Furthermore, the researcher....
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A large number of Bored Apes Yacht Club NFTs are approaching liquidation on the lending platform BendDAO, can this cascade into a crash of the entire non-fungible token market? Bored Apes NFTs At Risk Of Liquidation As Floor Prices Drop More Than 50% Since All-Time High BendDAO is a platform that lends out Ethereum loans […]
If you’re borrowing against your Bored Apes, you may want to keep your eyes peeled. Liquidity on major NFT lending platform BendDAO has been under a major stress test over the past 24 hours, as ETH levels appear to be under strain. At time of publishing, the BendDAO ETH reserves have been replenished, and sit […]
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Decentralized money markets function without a custodian, allowing only the original user to withdraw funds deposited by lenders and borrowers. The seamless flow of capital between borrowers and lenders is a key aspect of a vibrant economy. Anyone with an extra asset can lend it to put their idle capital to work, while people needing it to grow business or meet operational costs can easily access it.Money markets are the platforms where borrowers and lenders can meet. Throughout history, money markets have been generators of economic activities. Though the structure of money markets has....