BendDAO is 100% owned by the community and guaranteed by the following rules.
- All the DAO income will be distributed to veBEND holders
- How to utilize DAO treasury funds is decided by veBEND holders.
Here we would like to introduce a new proposal for growing BendDAO treasury for the long term.
- To allocate parts of BendDAO trading fees to BendDAO treasury in ETH;
- To use BendDAO treasury to cover the NFT oracle cost, fund individuals and teams that contribute to the BendDAO ecosystem, and improve the protocol’s market position.
BendDAO is the top bluechip NFT-backed loan protocol now. TVL reached 100k ETH at the peak time. More than 250 BAYC and 300 MAYC are deposited on BendDAO. The total loan volume has surpassed 51K ETH. Besides that, BendDAO has distributed more than 1K ETH to ETH depositors. Details: Bend DAO
However, BendDAO is facing the following problems.
- The operation cost is not covered by initial protocol income allocation such as the oracle cost.
- There is no long-term plan to expand BendDAO narrative as NFT finance fundamental lego block considering the furthermore market competition.
- 100% treasury reserve are BEND tokens. There is no plan to treasury finance reserve capability with strong currency for further expenditure.
Following are the stats of oracle costs.
Accumulated cost: 24 ETH
To setup the percentage of the trading fees that will be directed to the DAO Treasury to cover the NFT oracle maintenance costs.