BendDAO Pools Hit Capacity with High Interest Rates
BendDAO Pools Hit Capacity with High Interest Rates
🏊♂️ Bend Pools Are Bursting
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.
ApeStaking Migration to ApeChain Now Live
**Important Update for Ape Stakers**: All ApeStaking operations have been transferred to ApeChain. Users must migrate their staking positions to continue earning $APE rewards. **Key Points**: - Migration required for continued rewards - Available for BAYC/MAYC/BAKC holders - Higher APY rates offered - Auto-compounding feature supported Migrate your positions at [ApeChain by BendDAO](http://apechain.benddao.xyz) *Action Required: Transfer your staking positions now to maintain rewards*
BendDAO ETH Lending Pool Update
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.
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.