Gamepost.io
  • News
  • Developers
  • NFT
  • Metaverse
  • DeFi
  • Education
  • Glossary
  • Press Release
Reading: BendDAO Empowers NFT Investors with Web3 Financial Reporting
Share
Aa
Gamepost.io
Search
  • News
  • NFT
  • Metaverse
  • DeFi
  • Education
  • Events
  • Bookmarks
  • Contact
  • Contributors
Follow US
© Gamepost.io
News

BendDAO Empowers NFT Investors with Web3 Financial Reporting

Gamepost
Gamepost Published April 10, 2023
Share
3 Min Read
SHARE

Seoul, Korea, April 7th, 2023, Chainwire

One of the top NFT-backed lending liquidity protocols, BendDAO, has celebrated its one-year anniversary by publishing a detailed financial statement. It parallels the level of those found in traditional finance. Produced by Unboxing Lab, it reveals the progress BendDAO has made over the past 12 months.

EDGAR-style reports bring an unprecedented level of transparency to web3 projects, giving community members an insight into the financial health of protocols they routinely use. The report details BendDAOs assets and liabilities including a breakdown of cash reserves, loans, NFTs (both escrowed, transferred, and deposited) and other capital such as equity.

Key highlights of the BendDAO report include:

  • Annual interest revenue of 3,630.66 ETH
  • Annual interest expense of 2,447.04 ETH
  • Operating income of 1,183.62 ETH ($2.22M)

BendDAO’s decision to publicize its financials is part of its commitment to make as much of its operations as possible transparent for the community’s benefit. Unboxing Lab’s report enables BendDAO users to examine the protocol’s P&L, balance sheet, and associated risk measures. This allows potential investors to participate, become better informed, and make well-calculated decisions. It goes far beyond a simple look at TVL or APR, which can be a misleading indicator of success of the protocol.

BendDAO currently has liquidity of 67,624 ETH, while paying a deposit APR of 6.82% and a borrow APR of $28.44% against a total borrowing rate of 20,375 ETH. This equates to a protocol utilization rate of 30%.

About BendDAO

BendDAO is the most popular 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, forming a one-stop NFT liquidity solution.

About Unboxing Labs

Unboxing Labs is the financial research and reporting arm of NFTBank, the market leader in NFT pricing and portfolio management. Unboxing Labs is dedicated to making web3 financial data more standardized, interpretable, and therefore truely transparent. Unboxing Labs is currently accepting new requests for web3 financial reporting on DAOs, protocols, and investors/funds.

Website | Discord | Twitter | Github | Medium

Contact

COO
Jen Kim
jen@nftbank.ai

Related

You Might Also Like

Underdog and Crypto.com | Derivatives North America Announce First Prediction Market Exchange Offered on Major Sports Gaming Operator App

Blockchain Life Forum in Dubai on October 28–29. What to expect from the Crypto Event of the Year?

BlossomWarriors NFT Collection Set to Launch August 25, Bringing Storytelling to Web3

FIFA RIVALS AND BORUSSIA DORTMUND ANNOUNCE STRATEGIC PARTNERSHIP TO POWER NEXT-GEN DIGITAL FAN ENGAGEMENT

Mecharashi Debuts July 31 with Strategic Mech Combat and Evangelion Collaboration

TAGGED: BendDAO, NFT, report, web3
Share this Article
Facebook Twitter Email Print

New Releases

Trending Stories

Learn

What is On-Chain Bitcoin Analysis

January 15, 2023
News

Unity Gaming Engine Includes MetaMask Functionality

March 1, 2023
News

Polygon now partner of  W3GA – announcing WEB3 Gamedev Pitch Contest & Pitch Panel at PGA

October 3, 2023
News

GALACTIX is Now Live: Where Crypto Casino Meets Gaming

June 7, 2024
News

$DED Game Sparks Flames in Polkadot Ecosystem

March 5, 2024
News

Iconic Japanese Soccer Game Captain Tsubasa Launches on Oasys Blockchain

May 20, 2024

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Follow US on Social Media

Facebook Twitter Instagram Linkedin
Gamepost.io

More from Gamepost.io

  • Contact
  • Privacy Policy
  • Advertising
  • Subscribe
  • Submit a press release
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?