🟡 What is BendDAO?

BendDAO is the first NFT liquidity protocol supporting instant NFT-backed loans, Collateral Listing, and NFT Down Payment. The seamless experience of down payment, borrowing, and listing creates a perfect closed loop for users, a one-stop NFT liquidity solution. [1]

🟡 How do NFTs act as collateral in BendDAO?

With Collateral Listing, NFT holders/sellers can choose to take an instant NFT-backed loan and receive up to 40% of the floor price instantly when listing. If users already are a borrower on BendDAO, then users can list the collateral anytime. The users will become the borrower and the seller on BendDAO after the Collateral Listing. On the buyers side, the buyer can pay a minimum down payment of 60%, depending on the actual price, to buy a bluechip NFT while initiating a flash loan from AAVE to cover the remainder. The borrowed amount of the flash loan will be repaid through the instant NFT-backed loan on BendDAO. The buyers will automatically become borrowers with the down payment. And borrowers can list their mortgaged NFT for sale as well. [2]

📃 Purposes of dashboard

The main purpose of this dashboard is to evaluate the activity of BendDAO users. To evaluate the BendDAO platform, four user activities are analyzed:

1️⃣ Deposit

2️⃣ Borrow

3️⃣ Repay

4️⃣ Withdraw

The following metrics have been used to evaluate the above activities:

✅ Number of unique depositors/borrowers/withdrawers/repayers

✅ Number of deposits/borrows/withdrawals/repayments

✅ Volume of deposits/borrows/withdrawals/repayments

✅ Total number of collateral NFTs

✅ Top 10 users with the most NFT collateral

✍🏻 Methodology

• In this dashboard, the following tables are used to extract data:

  • ethereum.core.ez_eth_transfers

  • ethereum.core.ez_nft_transfers

    This table is used to check the NFT collateral sent to BendDAO.

• All the results are for the last 30 days.
• The contract related to deposits and borrows → 0x3b968d2d299b895a5fcf3bba7a64ad0f566e6f88

💡 Conclusion

In this dashboard, the activities of BendDAO users in terms of borrowing, depositing, repaying and withdrawing in the last 30 days were analyzed. Some of the results obtained are:

• The total amount of ETH deposited is greater than the amount of ETH borrowed. This is while the number of unique borrowers in the last 30 days was more than the number of depositors.
• The largest amount of ETH deposited is on September 7 (16.6k ETH - 25.3M $USD). While the largest number of depositors was recorded on August 21. On this day, 57 users made a total of 60 deposits.
• The largest volume of ETH withdrawal from BendDAO is on August 20 (15.7k ETH - 25.7M $USD). But the maximum number of withdrawals by users was recorded on August 21.
• The largest volume of ETH repayments in the past month is on September 7 (1,662 ETH - 2.5M $USD). On this day, 64 unique users had a total of 86 repayments.
• The largest volume of ETH borrows is on August 24 (1,230 ETH - 2.03M $USD). But the largest number of users who borrowed from BendDAO was recorded on September 6.
• The top user in terms of the number of NFTs he sent as collateral is the user with the address '0xed2ab4948ba6a909a7751dec4f34f303eb8c7236'.
• The highest number of NFT bonds is related to August 24.
• BAYC collection is mostly sent as collateral.

Analyst: Emanoel

***Twitter: ***

Discord: Eman#9698

Special thanks to the Flipsidecrypto 🧡