BenDAO is a peer-to-pool lending service allowing users to put NFTs up in exchange for ETH.
BendDAO is an NFT lending service that originally allowed users to take loans of up to 40% of their collateral. A recent liquidation crisis has led to a vote to lower the liquidation threshold and make it easier for exchanges to go through. This also enticed lenders to stay put with a higher interest rate. The protocol supports instant NFT-backed loans, Collateral Listing, and NFT Down Payment. Borrowers also have a 24-hour liquidation protection period to repay the loan.
Try Web3's Most Versatile Multichain NFT API
Sign up for a free Alchemy Account
Discover more web3 applications and developer tools.
Build blockchain magic with Alchemy
Alchemy combines the most powerful web3 developer products and tools with resources, community and legendary support.
