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BendDAO Gives NFT Investors the Edge With Web3 Financial Reporting

BendDAO, a non-fungible token (NFT) backed loan liquidity protocol, has celebrated its one-year anniversary by presenting a comprehensive financial statement developed by Unboxing Lab. The report provides specific information on the assets and liabilities of BendDAO, including an overview of cash reserves, loans, NFTs, and other capital such as stock. The financials of BendDAO have been made public as part of the NFT liquidity protocol's ongoing effort to be as open as possible for the sake of the community. The report reveals a total of 3,630.66 Ethereum (ETH) in interest income is earned annually, with an interest expense of 2,447.04 ETH per year, and operating income of 1,183.62 ETH ($2.22 million). BendDAO has a liquidity of 67,624 ETH, and it charges an annual percentage rate (APR) of 6.82% for deposits while charging an APR of $28.44% for borrowing against a total borrowing rate of 20,375 ETH.

(By Jordan Major)

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