After a price reduction threatened to cause the liquidation of most of the collateral supporting many of the loans, the most well-known lending platforms for NFT owners, like Bored Apes, to borrow against their collections are modifying their terms. Most of the community of investors that controls BendDAO voted in favor of modifying the protocol’s code to increase the liquidity of borrowers’ NFT collateral while luring lenders to remain put with higher interest rates. ABCDE has offered to provide BendDAO 10,000 ETH in liquidity in exchange for a 20% share in BEND, the platform’s native cryptocurrency. Huobi Launched $400M Crypto Fund – ABCDE Du Jun, the co-founder of Huobi, launched the $400 million cryptocurrency fund ABCDE. Its implementation depends on the governance community’s approval and majority members’ support. Even though BendDAO is going through a rough patch, it’s still unclear whether the community will be prepared to cede 20% ownership to one company. BendDAO Experiences Liquidity Problems BendDAO’s reverse was reduced to just 5 ETH and could not compensate some depositors. According to the report, on Wednesday, ABCDE proposed to give the BendDAO ETH treasury up to 10,000 ETH (the equivalent of $16.5 million) as part of a strategic alliance. However, as part of the agreement, the crypto fund would buy from the community 2,400 ETH in exchange for 20% of the BEND token’s supply. According to ABCDE, the tokens (2 b...
