All BAYC and MAYC used as collateral for obtaining loans on BendDAO are able to join the ApeCoin Staking with the BendApeStaking contract. As part of the Yuga ecosystem, all users with Yuga assets can also use the BendApeStaking service. This proposal is to propose the Fee Structure of BendDAO ApeCoin Staking.
The launch of BendApeStaking will drive a new wave of user adoption and raise the BendDAO awareness. veBEND holders will earn more income because of the rise of lending protocol revenue.
Currently, over 500 ETH earnings have been distributed to all veBEND holders in 6 months. BendDAO daily interest income: Bend Loan Interest
Flash Claim is an innovative functionality created by BendDAO dev allowing boundNFT owners (borrowers) to claim NFT airdrop/ rewards on other protocols while their NFTs are still used as collaterals. BendApeStaking is designed based on the Flash Claim.
Over 300 Otherdeeds were successfully claimed through Flash Claim with collateralized Apes.
Technical details of the BendApeStaking:
|NFT||ApeCoin||Proposed Management Fee|
|boundNFT holders||Same as the boundNFT holders||0%|
|boundNFT holders||Any ApeCoin holder||2% or 3% or 4%|
The management fee is charged at the time of staking rewards claim, and calculated based on time since the previous claim.
The Snapshot voting will decide the final management fee percentage. The community can also propose adjusting the ratio during the 3-year ApeCoin Staking.
The DAO Treasury will collect the “management fee” which should be ApeCoin. The community can further discuss whether the fee should be swapped to stablecoin or ETH.
The Management Fee will be set based on the community voting result.
All veBEND holders are members of BendDAO.
Voting Quorum: 51M veBEND (20% of the total supply)
Pass Rate: Over 80% Approve.
The voting will last for 3 days.