Description
BendDAO is a decentralized peer-to-pool based NFT liquidity protocol. It allows depositors to provide ETH liquidity to a lending pool to earn interest, while borrowers can instantly borrow ETH by using NFTs as collateral. The protocol is built on a peer-to-pool model, enabling instant borrowing from a liquidity pool and passive income for liquidity providers. BendDAO also features a collateral listing function, allowing borrowers to list their collateral for sale, which can be purchased by any user with flash loans from AAVE in a single transaction. Furthermore, it is the first NFT-backed lending pool to support down payments for NFT purchases, allowing users to buy a blue-chip NFT with a partial down payment and an instant loan.