BIP#47: Add Pudgy Penguins as collateral

BIP#47: Add Pudgy Penguins as collateral
Idea(BRC): Discord
BIP by: Hill |
Created: 2023-12-05
Status: Community Review


With the Pudgy Penguins’ floor price breaking through 10 ETH, this BIP is proposed to move to the on-chain snapshot phase when Pudgy Penguins meets all requirements.

  • The 30-day average floor price of Pudgy Penguins is around 7.75 ETH.
  • The cumulative volume has reached 129K ETH, surpassing the minimum requirement of 50K ETH.
  • The series has been deployed for 30 months, well over the minimum requirement of 30 days.
  • There are 8,888 NFTs, exceeding the rule requirement of 5,000.
  • With 4,381 unique holders on OpenSea, it surpasses the rule requirement of 1,000.

As BIP#28-1 is reintroduced, proposing potential adjustments to the 30-day average floor price requirement, the relevance of this discussion is heightened. Should the 30-day floor price requirement be reduced to 7 ETH or 5 ETH (BIP#28-1), Pudgy Penguins would fulfill all BendDAO’s Bluechip NFT Eligibility Requirements.

BIP#28-1 Snapshot: Snapshot


Should the community pass this proposal, Pudgy Penguins will be accepted as NFT collateral for BendDAO, with the following parameters set:

  • 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, add Pudgy Penguins
  • Yes, but the parameter setting needs more discussion
  • No

0 voters

1 Like

It seems the average floor price is above 10 ETH now. Pudgy Penguins NFT价格图表和统计数据

1 Like