BendDAO ETH Lending Pool Update
BendDAO ETH Lending Pool Update
🏊 Pool Party Getting Cooler
The ETH lending pool utilization on BendDAO has shown significant improvement, dropping from 92.68% to 68.61% over the past week. This decrease indicates recovering liquidity in the protocol.
- Current utilization rate: 68.61%
- Previous rate: 92.68%
- Interest rates remain elevated
Recommendation for borrowers: Consider repaying outstanding loans while the pool shows improved liquidity conditions.
The steady recovery suggests growing stability in the lending protocol's operations.
BEND Token Plan Hits Week 1 Milestone
**BEND Protocol** completes first week of token burn program as planned. **Key Updates:** - Week 1 token burn successfully executed ✅ - Lender rewards program now active and operational - Buyback and burn mechanism scheduled to begin in Month 3 The NFT lending protocol continues executing its tokenomics restructuring plan on schedule. Lenders can now earn rewards while the protocol prepares for expanded buyback operations. *Next phase launches in two months with enhanced token mechanics.*
BEND Token Burn Week 1 Complete
**BEND Protocol completed its first weekly token burn**, permanently removing 50 million $BEND tokens from circulation. The burn transaction has been **confirmed on Ethereum**, reducing the total supply as part of the protocol's deflationary strategy. **Key details:** - 50M $BEND tokens burned from treasury - Tokens permanently removed from circulation - Part of 5-month plan to burn 50% of treasury holdings The burn mechanism aims to **reduce token supply** over time, potentially benefiting existing holders through scarcity. Transaction details available on [Etherscan](https://etherscan.io/tx/0xfaf5bee0dbb3ab68ce4165d681c6eacdd07a3e1cdb0d717d856e6de658819e17).
BendDAO Pools Hit Capacity with High Interest Rates
BendDAO lending pools have reached maximum capacity, pushing interest rates to significant levels - 164% for ETH and 92% for USDT. The protocol faces a $465k mark-to-market loss due to Azuki price fluctuations, though this remains well below the DAO treasury's $1.5M valuation. - Current rates: - ETH: 164% - USDT: 92% *Key Development*: DAO Treasury plans to begin bidding on affected assets in the near term. **Market Impact**: Despite losses, protocol maintains strong treasury position with 3x coverage of current mark-to-market deficit.
BendDAO Launches ApeCoin Staking with Auto-Compounding Features
BendDAO has introduced a new staking service for BAYC, MAYC, and BAKC NFT holders to earn ApeCoin rewards. Key features include: - Single NFT staking support - Auto-compounding yield mechanism - No liquidation risk for pure staking - Second largest ApeCoin staking pool after ApeStake.io - Dual yield opportunities with BendDAO V2 Platform is now live at BendDAO's website, offering a streamlined way to generate passive income from Ape NFT holdings. Visit v1.benddao.xyz/ape-staking to start earning rewards.