BIP#4 - Bluechip NFT Eligibility Requirements


Bend DAO supports NFT-backed loans that enable NFT holders to borrow ETH by using NFT as collateral. Currently, BAYC, CryptoPunks, MAYC, Azuki, Clone X, and Doodles are supported as collateral on Bend DAO.


This proposal is to set up the bluechip NFT eligibility requirements through governance. When an NFT collection meets these requirements, it will be considered a potential bluechip NFT. And then DAO members can propose adding new bluechip NFTs as collateral on Bend DAO.

The following are the suggested eligibility requirements.

  1. The floor price is over a certain amount of ETH;
  2. The market cap is bigger than Floor Price * 10,000;
  3. The number of items is bigger than 5,000;
  4. The number of owners is bigger than 1,000;
  5. The all-time Trading Volume on OpenSea is more than a certain volume of ETH;
  6. The collection has been deployed for more than a certain number of days;
NFT Collections Floor Price All-time Trading Volume on OpenSea Deployed
BAYC 138.5 ETH 506K ETH 367 days
CryptoPunks 60 ETH 894K ETH 1766 days
MAYC 38.45 ETH 336K ETH 238 days
Azuki 24.5 ETH 187K ETH 104 days
Clone X 16.95 ETH 178K ETH 133 days
Doodles 14.9 ETH 106K ETH 190 days
==== ==== ==== ====
Risk Level 1 10 ETH 50K ETH 30 days
Risk Level 2 15 ETH 80K ETH 90 days
Risk Level 3 20 ETH 100K ETH 180 days


All BEND stakers are members of Bend DAO.
Voting Quorum: 15M veBEND (around 20% of the veBEND current supply)
Pass Rate: Over 80% Approve.
The voting will last for 7 days.

Airdrop & Staking

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Snapshot: Snapshot

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Feel free to let us know your thoughts.

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Is this the threshold that determines entry and is there an exit mechanism?
I would suggest limiting the total number of mortgages for a single NFT at the beginning.
In the future, depending on the development of NFTs, a vote or team can decide whether to raise or lower the number of collateral for a particular NFT to prevent risk.

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It’s hard to be perfect.As long as the standard applies to header items where there is a strong consensus. I think sustainable development is an important indicator for blue chip to pass through the bull and bear.

  1. Deployed time change to 50 100 150 days
  2. Add a condition that the floor price is the average price for the last 30 days
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I think make the floor price [average for the last 30 days] is a good idea.

50 100 150 is good suggestion too.


I think either BendDAO accept the whole collection or say no to the collection, make it simple would be better. if the collection is blue chips, we need to accept them all.

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I don’t think such a criterion can be easily discussed. It should be calculated.

Unlike Tokens, NFT projects have many indicators that cannot be easily calculated. For example, the floor price of a single NFT, total market value, average price in the past 30 days, influence (such as the number of Twitter followers, etc.)

I don’t think it’s a good idea to let non-professional DAO members decide what is blue chip.

I suggest that the team first analyze the indicators of each recognized blue-chip, evaluate a score from each dimension, and then weight the score. Only NFTs above a score line can be called blue-chip.

At the same time, this standard should change all the time (the price and circulation of ETH should also become a part of the standard)

This can avoid some unexpected situations where blue chips are at risk.

Personal opinion, DYOR

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this is just for a blue chips proposal threshold, even a collection match this condition, the community can still vote for NO if the collection is not good enough. The team will definitely involve the vote too. The most important thing is that even the vote is passed and if it’s a attack, it’s not a onchain vote, BendDAO team can still not add the collection into the pool.

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No.2 covers No.3 already, and isnt that implicating the minimum item count per collection must exceed 10,000? This part is questionable.

To counter possible rug vote, I suggest:

  1. total holder address count/total items count must exceed a certain number, a more evenly distributed holder dynamic will make it more expensive and slower to execute malicious activities.
  2. quorum must be way higher than 20% of circulating supply, or use a different metric: vebend holder address count
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I think that minting-random should be one of the most important rules for blue chips. Fairness is so important for web3.

Since adding a new collection will only happen one time on Bend, it’s a pretty big moment to make the most of. I believe the team should allocate resources to marketing efforts for these new listing moments. Cross collaboration and constant engagement with communities will be key to raising awareness and increasing the TVL of Bend.

Also, as the first decentralized NFT lending platform, it will be integral for the brand to build a relationship early with these communities to build a moat against competitors that will pop up in the future.

I see the marketing operations on dework Marketing Operations | Dework & will share some suggestions on what I am able to contribute for this.

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