Summary
This proposal is proposed to increase collateral rates of all current collections to 60%.
Background
BendDAO is a peer-to-pool model NFT lending platform, and the Protocol uses the over-collateralization method to provide services to both lenders and borrowers.
At the initial stage of the Protocol’s creation, in order to correspond to the systematic risk of NFT, so the Protocol set the collateralization rate of NFT at 30-40%, i.e., the collateral value of 100E NFT can borrow 30-40 ETH. Such a collateral rate setting served to stabilize the protocol in the early stages of development, but a collateral rate of 30%-40% also resulted in relatively low asset utilization for both lenders and borrowers.
Proposal
It is proposed to increase collateral rates of all current collections to 60%.
As the liquidation threshold has been lowered to 80% from 90% already, which can cover about 20% drop in floor price in 24 hour. There will be minor threaten to the stability of the Protocol if collateral rates been increased to 60% while higher collateral rates will bring more incomes to the Protocol.
- No, Keep the current collateral rates unchanged
- Yes, Let’s increase all collateral rates to 40%
- Yes, Let’s increase all collateral rates to 50%
- Yes, Let’s increase all collateral rates to 60%
- Yes, Let’s increase all collateral rates to 70%
0 voters