BendDAO Releases Detailed Financial Report on First Anniversary

• BendDAO has published an EDGAR-style financial report of its operations on the first-year anniversary of its launch.
• The statement provides transparency around BendDAO’s finances, showing that it made annual interest revenue of 3,097 ETH in its first year.
• Potential users can use the statement to make better informed decisions on whether or not to use the protocol.

BendDAO Publishes Financial Statement

BendDAO, the decentralized NFT-powered lending liquidity protocol, has released a detailed financial statement of its operations on the one-year anniversary of its launch. The EDGAR-style report was produced by NFTBank’s Unboxing Labs and is available to any community member looking for insights into BendDAO’s financial health.

Openness and Transparency

The report ensures full transparency around BendDAO’s finances and is similar to those that publicly traded companies provide to the U.S. Securities and Exchange Commission (SEC). It includes profit & loss statements, balance sheets, associated risk measures and more. According to BendDAO, this level of openness allows potential users to make better informed decisions on whether or not to use the protocol instead of just relying on metrics such as total value locked and APR which are often misleading.

Annual Earnings & Utilization Rate

BendDAO made annual interest revenue of 3,097 ETH in its first year with annual interest expenses at 2,168 ETH resulting in an operating income at 929 ETH ($1.69 million at time of writing). It currently holds 63,000 ETH in liquidity and earns a 29.35% APR against a total borrowing rate of 21,342 while depositors can earn 7.81% APR equating to a 34% utilization rate for the protocol.

Breakdown Of Reserves And Loans

The report also breaks down cash reserves & loans held by BendDAO as well as NFTs deposited including those which are escrowed or transferred giving further clarity into how much is being utilized within the platform itself by both lenders & borrowers alike who are taking advantage of instant crypto borrowing against their NFTs deposited as collateral insurance in case borrowers fail to repay their loan amounts taken out from lenders within the platform itself..


BendDAO said that publishing this report was all about providing transparency for their community’s benefit allowing them better insight into how their platform works & what they should be expecting from it when using it themselves going forward from hereon out if they so choose to do so!

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