This proposal was written to explain to the community the impact of this proposal on the protocol and to ask community members to vote on the proposal once they fully understand its content.
Title: Add KODA as collateral
BIP by: bingo#1910
Status: Community Review
BIP Editor: NFTLZ.ETH#0717(**@**defiandnft)
The purpose of this BIP is to add KODA NFTs as collateral on BendDAO.
According to :
After researching, community member bingo#1910 believes that NFT KODA qualifies as a blue chip NFT listed as collateral.
Its Idea to list KODA as collateral was posted on Discord and received more than 10 PASSes (support from community members).
According to the KODA DUNE analysis page provided by bingo#1910:
We can see that KODA meets the requirements to be used as collateral for BendDAO:
- KODA’s MA250 Floor Price is 11.2 ETH, higher than the rule requirement of 10 ETH
- KODA Cumulative Volume: 139.9K ETH, higher than the rule requirement of 50K ETH.
- KODA has been deployed for 10 Months, higher than the rule requirement of 30days.
- The total number of KODA NFTs is 10000, higher than the 5000 required by the rules.
- KODA has 5626 unique holders, which is higher than the rule requirement of 1000.
With the above data, KODA fully meets the requirements to be used as collateral for BendDAO.
If this proposal is passed by the community, KODA is used as the NFT collateral for BendDAO and the relevant parameters are set as follows:
- LTV / Collateral Ratio: 30%.
- Liquidation Threshold: 80%.
- Auction & Redeem Duration: 24 hours.
- Redeem Fine: maximum (5% of the debt, 0.2 ETH).
- Redeem Threshold: 50%.
- Option 1: Yes
- Option 2: No