BendDAO's New Proposal Suggests Adjusting Some Parameters to Ease Liquidity Crisis

NFT lending protocol BendDAO released a new community proposal that suggests addressing the liquidity crisis by adjusting parameters such as the liquidation threshold, auction period, and interest base rate. Specifically, the liquidation threshold will be gradually adjusted to 70%, the auction period will be adjusted from 48 hours to 4 hours, the interest base rate will be adjusted to 20%, and the BendDAO community will be able to vote on how to deal with the bad debts if it happens.