BendDAO's Proposal to Adjust Some Parameters to Ease Liquidity Crisis Gets Passed

NFT lending protocol BendDAO's new proposal got passed. The proposal 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.
Source

NFT

Lending

DeFi

Ethereum

Related News
Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
Vitalik Buterin suggests implementing ‘partially stateless nodes’ to help scale Ethereum Vitalik Buterin suggests implementing ‘partially stateless nodes’ to help scale Ethereum
Ethereum developers activate Pectra upgrade with 11 changes to improve UX, validator ops and Layer 2 scaling Ethereum developers activate Pectra upgrade with 11 changes to improve UX, validator ops and Layer 2 scaling
Term Finance recovers $1 million of $1.6 million loss to oracle configuration error Term Finance recovers $1 million of $1.6 million loss to oracle configuration error
Quantum Cats NFT floor price plunges 54% post-Taproot Wizards mint Quantum Cats NFT floor price plunges 54% post-Taproot Wizards mint
Latest News More More
July 10 Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
July 7 TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
July 4 Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open