Overview

what we will cover in this dashboard:

• Information about collateral by collection:

  1. collateral amount per collection
  2. collateral Value per collection
  3. monthly amount and Value
  4. Comparing collections base on above amounts

• take a deep look on resave and debt:

  1. Total reserve and debt
  2. monthly reserve change and stats
  3. monthly debt change and stats
  4. daily Utilization rate and the current rate

• daily stats such as:

  1. daily Deposit/Withdraw stats
  2. daily repay/borrow stats

Helpful Links:

• Website: LINK

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• Docs: LINK

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• GitHub: Link

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• Twitter: LINK

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Introduction

Bend DAO is the first NFT liquidity protocol supporting instant NFT-backed loans, Collateral Listing, and NFT Down Payment (Read more).

Holders of NFTs can borrow ETH using their NFTs AS collateral and users with deposit ETH into the platform can earn some interest.

NFT accepted as collateral: BAYC, MAYC, AzukiOfficial, CryptoPunks, CloneX, and doodles

Method

for collateral by collection starts, first I collected the platform addresses that hold the NFTs with help of bend Dao website than by using ethereum.core.ez_nft_transfers table I calculated the NFTs that used as collateral in the bend dao platform, for their Value I used ethereum.core.ez_nft_sales table and the average price. I chose the monthly Timeframe to show the change in the stats in this section

For Total debt and reserve I used ethereum.core.ez_token_transfers with help of three contract addresses that are:

'0x3b968d2d299b895a5fcf3bba7a64ad0f566e6f88','0x70b97a0da65c15dfb0ffa02aee6fa36e507c2762','0xed1840223484483c0cb050e6fc344d1ebf0778a9'

i also calculated the deposit/withdraw/repay/borrow stats with these addresses and some filtering with ORIGIN_FUNCTION_SIGNATURE

the Utilization rate is (Total debt/Total reserve)* 100

Observations:

In the above table we can see overall stats that the platform had in this section, there are 7 supported NFT collections that are BAYC, MAYC, Azuki, CryptoPunks, CloneX, doodles and the space doodles. We can see the amount that user used them as collateral and the current ETH value of their collateral.

Among this seven collections MAYC or mutant ape yacht club has the highest amount with 256 Token and bored ape yacht club has the highest collateral value with 224.5K ETH. The difference between bored ape collateral Value and other collection is very huge.

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Observations:

AS we said most of the Collateral amount are belongs to mutant ape with 29.1% of All collateral amount and the lowest one is space doodles with 0.681%

86.4% of All collateral value that platform has is related to bored ape collection and the lowest one is space doodles.

Observations:

In May, we see the peak in the collateral amount that the bend dao held was almost 1,197 token but after that month we can see decreasing in the amount and as we can see in the graph the amount currently is 838 token.

But the condition of NFT market more than amount has effect on the ETH Value of it, we can see a sharp fall in the value of collateral since June and this show us that the price of NFT collection has a high effect on the activity on such platforms.

Observations:

The current Total reserve is 26.7 ETH and in the monthly stats we can see that the highest inflow was on Apr month with 38.89 ETH and highest outflow was on Jun with 28K ETH

the peak of bend dao reserve was on May month with 51K ETH and after May we see decreases in the reserve ETHs.

Observations:

The current Total debt is 12.7 ETH and in the monthly stats we can see that the highest increase in debt amount was on Apr month with 13.16 ETH and the highest decreases was on Jun with 3.2K ETH

the peak of bend dao debt was on May month with 18.9K ETH and after May we see decreases in the debt ETHs.

Observations:

The current utilization rate is 47.8% and in the daily stats we can see that the highest rate was on Aug 21, 2022 with 109% (which is strange) and the lowest rate was on Mar 22, 2022 with 20.2%

Observations:

deposit/withdraw :

the highest activity was on Apr 26, 2022 with 161 Deposit and 19 Withdraw transactions, in May month we can see high Deposit/withdraw amount also in the last 3 days we highly Withdraw activity compare to the days before, maybe that is because merge and Fork news,

from April the platform was very successful to attract users to had activity on it, and we can see that in the deposit/withdraw cumulative amount where The charts took a sharp upward slope in April

repay/withdraw :

the highest activity was on May 01, 2022, with 197 Borrow and 95 repay transactions, also here we can observe high activity on May, the highest daily borrow amount was on May 1 with more than 4.3K ETH and the highest daily repay amount was on Jun 13 with more than 1.7K,

recently Users showed great interest in repaying their loans.

Also here The cumulative charts took a sharp upward slope in April

Conclusion

• mutant ape yacht club has the highest amount with 256 Token and bored ape yacht club has the highest collateral value with 224.5K ETH
• mutant ape has 29.1% of All collateral amount and the lowest one is space doodles with 0.681%
• 86.4% of All collateral value that platform has is related to bored ape collection
• the peak in the collateral amount that the bend dao held was almost 1,197 token and this amount 838 token now.
• Price of NFT collection has a high effect on the activity on such platforms.
• Total reserve is 26.7 ETH and Total debt is 12.7 ETH
• The current utilization rate is 47.8%
• April was when the success of this platform started
• recently Users showed great interest in repaying their loans
• in the last 3 days we highly Withdraw activity compare to the days before, maybe that is because merge and Fork news

About me:

• Author: Hojjat
• Discord: hojjat7878#8809
• Twitter: @hojjat8d
• Email: hojjat78delshad@gmail.com

Thanks For your time