Tag: benddao

Aug 22 2022

Daily Briefing: BendDAO’s Bad Weekend

Aug 22 2022 Published at Crypto Briefing under tags  benddao nfts

Last week, we covered a looming crisis in the NFT market that traced its origins to the NFTfi platform BendDAO, which allows holders of certain blue chip NFT collections (think...

BendDAO Hit by Insolvency Crisis as Ethereum Reserves Drained

Aug 22 2022 Published at Crypto Briefing under tags  analysis benddao nfts

BendDAOs reserves briefly fell to 0.75 ETH early Monday. BendDAO Cant Repay Lenders As many NFT community members feared last week, BendDAO is experiencing a bank run. The so-called NFTfi...

BendDAO running out of funds amid fears of souring debt

Aug 22 2022 Published at CryptoSlate under tags  benddao bored ape daos defi nfts

NFT platform BendDAO experienced a bank run between August 19 and August 21 as over 15,000 Ethereum (ETH) were withdrawn from its contract within 48 hours. gm While you were asleep the BendDAO bank run finally happened 15 wETH ($25,081) left in the wallet that had 18,000 ETH ($29,160,000) in...

BendDAO lending protocol runs out of ETH to pay lenders

BendDAO, a lending protocol, has exhausted the Wrapped Ether (wETH) in its contract with only 15 left and an estimated 15,000 Ether (ETH) at the moment that will be used to pay lenders. In a Twitter discussion, researcher NFTStatistics.eth broke down the problem and pointed out that NFT platform borrowers now had to pay 100% […] The post...

Aug 21 2022

Bored Apes Approaching Mass Liquidation On BendDAO, Can This Crash Entire NFT Market?

A large number of Bored Apes Yacht Club NFTs are approaching liquidation on the lending platform BendDAO, can this cascade into a crash of the entire non- fungible token market? Bored Apes NFTs At Risk Of Liquidation As Floor Prices Drop More Than 50% Since All-Time High BendDAO is a platform that lends out Ethereum loans to users against NFT collaterals. Generally, users can...

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