In the evolving world of decentralized finance (DeFi), BendDAO is emerging as a game-changer for NFT enthusiasts. This innovative, non-custodial protocol allows users to leverage their NFT assets for liquidity. By empowering depositors to provide ETH liquidity and enabling borrowers to use NFTs as collateral for instant loans, BendDAO addresses a critical need in the NFT marketplace: liquidity. The protocol’s unique model not only ensures enhanced asset utility but also offers passive income opportunities for depositors, making it a significant player in the DeFi ecosystem that cannot be overlooked. Read on to explore how BendDAO is transforming the world of NFT-backed finance.

What is BendDAO?

BendDAO is a decentralized non-custodial NFT-backed borrowing and lending protocol where users can participate as depositors or borrowers. Depositors provide ETH liquidity to the lending pool to earn a passive income, while borrowers can borrow ETH through the lending pool using NFTs as collateral instantly.

Key Features of BendDAO

1. Decentralized and Non-Custodial: BendDAO operates without intermediaries, ensuring that users have full control over their assets.
2. NFT-Backed Loans: Users can leverage their NFTs to borrow ETH, providing immediate liquidity without selling their assets.
3. Passive Income for Depositors: By providing ETH liquidity to the lending pool, depositors can earn a passive income.
4. Collateral Listings and Down Payments: These features enhance liquidity and trading opportunities for NFT holders.

BendDAO Token (BEND)

The BendDAO token (BEND) is the native cryptocurrency of the BendDAO platform, which aims to revolutionize the NFT industry by providing liquidity solutions. The token offers various benefits and utility within the ecosystem, including participating in voting, decision-making processes, and profit-sharing.

Purpose and Utility of BEND

The primary purpose of the BendDAO token is to address liquidity challenges in the NFT market. The platform allows NFT owners to utilize their assets as collateral and access immediate liquidity through NFT-backed loans. This feature enables NFT holders to access additional funds without selling their assets.

Additionally, BendDAO offers features such as collateral listings and down payments, enhancing liquidity and trading opportunities for NFT holders. The collateral listing feature allows NFT owners or sellers to receive an immediate 40% of the listing value of their assets, even before the actual sale takes place. The remaining amount is repaid by the buyer through an NFT-backed loan, providing instant liquidity to the sellers.

The BEND token is used for governance, allowing token holders to actively participate in the decision-making processes that shape the future of the protocol. They have the power to vote on important proposals and influence the direction of the platform. BEND token holders are also eligible to receive a share of the platform's profits, presenting an opportunity for generating passive income.

Tokenomics and Distribution Model

The BendDAO crypto token has a total token supply of 10 billion (10,000,000,000) tokens. The token distribution breaks down as follows:

• Developer Team: 21% (2,100,000,000 BEND)
• Initial Fair-launch Offering: 10% (1,000,000,000 BEND)
• Treasury Reserve: 21% (2,100,000,000 BEND)
• Airdrop: 5% (500,000,000 BEND)
• Uniswap LP Incentive: 3% (300,000,000 BEND)
• Lend/Borrow Incentive: 40% (4,000,000,000 BEND)

The maximum supply of this token is capped at 10,000,000,000. The supply of BendDAO (BEND) is expected to be fully vested by March 2027.

Vesting Periods and Lock-Ups

The Developer Team's allocation of 21% (2,100,000,000 BEND) is locked across a number of years, starting from May 9, 2023. It is linearly released over 3 years after a 14-month lock-up period. This ensures the team's long-term commitment to the project.

Market Data

Understanding the market dynamics of BendDAO is crucial for potential investors and users. Here are some key statistics:

• Current Price: $0.0038
• Market Cap: $6,417,243.58
• 24h Price Change: 0.01%
• 7d Price Change: -0.32%
• 30d Price Change: 27.74%
• 24h High: $0.0041
• 24h Low: $0.0037
• All-Time High: $0.1299 (April 25, 2022)
• All-Time Low: $0.0023 (October 21, 2023)
• Circulating Supply: 1,691,202,127.17
• Total Supply: 10,000,000,000.00

The Team Behind BendDAO

The BendDAO crypto token is developed by a team of experienced professionals with diverse backgrounds and expertise in blockchain, finance, marketing, and legal matters.

Core Team Members

1. Ant Pong - Head of Devs, Co-founder: Ant Pong is a seasoned blockchain developer with expertise in smart contract engineering. He has been involved in the blockchain industry since 2017 and has worked as a Lead Smart Contract Engineer at Bounce.finance. Ant Pong is also an Openzeppelin expert and has extensive experience in DeFi development.
2. Kimi Chow - COO, Co-Founder: Kimi Chow brings over a decade of experience in managing public relations campaigns for blockchain clients. She has overseen campaigns for more than 30 blockchain clients, creating and executing multi-faceted, integrated media strategies to fulfill strategic directions.
3. Ken Hung - Marketing Leader: Ken Hung is an experienced community manager and marketing professional with over 5 years of experience in the blockchain industry. He holds a Master of Management degree from the University of Edinburgh and specializes in decentralized storage, DeFi, and Layer1.
4. Clark Yan - Legal Adviser: Clark Yan is a legal adviser with a Master of Laws degree from Peking University. He has experience managing legal departments and is an independent researcher in global blockchain policy and financial environments.

These core team members have been instrumental in the development and launch of BendDAO, a decentralized non-custodial NFT liquidity and lending protocol where users can participate as depositors or borrowers. The protocol is implemented as a set of smart contracts on the Ethereum blockchain, ensuring safety and eliminating the need for intermediaries.

Unique Features and Benefits

BendDAO stands out in the DeFi space due to its unique features and benefits:

NFT-Backed Loans

One unique feature of the BendDAO platform is its NFT-backed loans, which allow NFT owners to leverage their assets to borrow ETH from the lending pool. This feature enables NFT holders to access additional funds without selling their assets, which is particularly useful for NFT owners who want to keep their assets but need immediate liquidity.

Collateral