BIP#32
Title: Add BendDAO stakedNFT as collateral
Idea(BRC):Discord
Background: What is stakedNFT?
BendDAO’s new pool-based Ape staking (V2) is constructed separately from the lending structure. stakedNFT represents the staked NFT in pool-based Ape Staking (V2), signifying the value of the initially deposited NFT. stakedNFTs are minted upon deposit and burned when withdrawn. stakedNFT token items are issued 1:1 to the original NFTs that are staked in V2.
- Maintains the same metadata as the staked NFT
- Two NFTs with the same ID cannot circulate simultaneously
- As soon as the original NFT is withdrawn from the staking contract, the corresponding stakedNFT is instantly burned
V1 Users
For existing V1 users, the one-click migration will be activated once the stakedNFT is supported as collateral on BendDAO.
Parameters
Since the value of stakedNFTs is consistent with that of the original NFTs, the parameters for stakedNFTs are set accordingly.
- stakedBAYC will follow the parameters of BAYC
- stakedMAYC will follow the parameters of MAYC
BAYC
- LTV / Collateral Ratio: 60%
- Liquidation Threshold: 80%
- Auction & Redeem Duration: 24 hours
- Redeem Fine: maximum (5% of the debt, 0.2 ETH).
- Redeem Threshold: 50%
MAYC
- LTV / Collateral Ratio: 50%
- Liquidation Threshold: 80%
- Auction & Redeem Duration: 24 hours
- Redeem Fine: maximum (5% of the debt, 0.2 ETH).
- Redeem Threshold: 50%
- Yes
- No
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