BEND is the governance and revenue-share token of the BendDAO protocol, a decentralized NFT liquidity protocol.
BEND is a low-cap asset that represents the blockchain`s native currency or monetary fee used to execute transactions on the network. This asset is exposed to the underlying risks of BendDAO, a protocol rated as Watch out.
BEND has a fixed supply.
BEND is highly correlated to the overall market.
BEND is the governance and revenue-sharing token for the BendDAO platform. BEND holders can stake BEND to receive veBEND to participate in governance as well as a share of the protocol income. veBEND holders can vote on which NFTs are supported as collateral for borrowing ETH.
BEND launched through an initial fair-launch offering with an initial total supply of 10B tokens. The token distribution schedule is as follows: 21% to the developer team (1-year locked and then linearly released over 3 years), 10% to the initial fair-launch offering, 21% reserve for the treasury, 5% reserved for airdrop, 3% to incentivize Uniswap liquidity, and 4% to incentivize lend/borrow activity (linearly released over 5 years, lend/borrow ratio is 1:3).
BEND collects 30% of all interest income collected on NFT loans and distributes 100% of the income to BEND stakers (veBEND). All fees are distributed to veBEND holders each week, proportional to their veBEND balance relative to the total supply. veBEND holders can also participate in BendDAO governance.