BendDAO Brings Financial Transparency to NFT Investors with Web3 Reports
• BendDAO celebrates one-year anniversary with financial reporting produced by Unboxing Lab.
• Report details assets and liabilities, including a breakdown of cash reserves, loans, NFTs, and other capital such as equity.
• Unboxing Labs is dedicated to making web3 financial data more standardized and transparent.
BendDAO One-Year Anniversary
BendDAO has celebrated its one-year anniversary by publishing a detailed financial statement produced by Unboxing Lab. The report parallels the level of those found in traditional finance, giving community members an insight into the protocol’s financial health. It includes a breakdown of cash reserves, loans, NFTs (both escrowed, transferred and deposited) and other capital such as equity.
The key highlights of the BendDAO report include: Annual interest revenue of 3,630.66 ETH; annual interest expense of 2,447.04 ETH; operating income of 1,183.62 ETH ($2.22M). With liquidity at 67,624 ETH while paying a deposit APR of 6.82% and borrow APR of $28.44%, it equates to a protocol utilization rate at 30%.
Commitment to Transparency
BendDAO’s decision to publicize its finances is part of its commitment to make its operations as transparent as possible for the community’s benefit; allowing potential investors to participate in well-calculated decisions beyond simply looking at TVL or APR which can be misleading indicators.
BendDAO is the most popular NFT liquidity protocol supporting instant NFT-backed loans, collateral listing and NFT down payment with seamless experience creating a perfect closed loop for users forming a one-stop NFT liquidity solution.
About Unboxing Labs
Unboxing Labs is the financial research and reporting arm of NFTBank – the market leader in NFT pricing and portfolio management – dedicated to making web3 financial data more standardized and interpretable thus truly transparent accepting new requests for web3 financial reporting on DAOs protocols and investors/funds.