Title: Proposal to Upgrade and Extend BendDAO’s Functionality for Apestake
Introduction: A recent attack on ParaSpace NFT has highlighted the importance of asset security, especially when it comes to staking and pairing NFTs with Ape tokens. In this proposal, we suggest upgrading and extending the functionality of BendDAO to address some of the challenges faced by Apestake users.
Background: Apestake was officially launched on December 12, 2022, with the aim of offering users three options to boost Ape returns and pair NFTs with Ape tokens. These options include Binance NFT, Benddao, and ParaSpace. While Binance NFT is a more centralized solution with different NFT durations, BendDAO uses a peer-to-peer matching model that gives users maximum freedom but also brings some challenges, such as high matching friction due to the setting of reward distribution ratios. ParaSpace, on the other hand, has adopted an innovative peer-to-pool model that has improved the efficiency of capital utilization but is still immature and vulnerable to security risks.
Motivation: The recent attack on ParaSpace NFT highlights the need for improved asset security in the Apestake market. There is also a demand for a more efficient and optimized peer-to-peer matching model that addresses some of the challenges faced by BendDAO users. Upgrading and extending BendDAO’s functionality can create new scenarios and optimize the original peer-to-peer model to meet these needs.
Proposal: Our proposal is to retain the peer-to-peer matching function of BendDAO while adding peer-to-peer pooling optimization. This will involve creating a more efficient and optimized matching model that reduces matching friction and improves the overall user experience. Additionally, we will introduce a peer-to-pooling feature that allows users to pool their assets and share rewards based on their contribution to the pool. This will improve capital utilization and provide users with more flexibility and options when staking and pairing NFTs with Ape tokens.
Conclusion: Upgrading and extending BendDAO’s functionality will enhance the overall security and efficiency of the Apestake market. Our proposal to retain the peer-to-peer matching function while adding peer-to-pooling optimization is a step towards meeting the evolving needs of Apestake users. We look forward to working with the Apestake community to implement these changes and improve the overall user experience.