A modular lending protocol that bridges NFT and FT with DeFi primitives. #YieldMarket #PayFi https://xitter.cf/t.co/omPfFqvcYU
$BEND
Joined October 2021
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💪 Introducing a clear and sustainable revenue allocation plan — designed to strengthen the protocol and build confidence among lenders, borrowers, and $BEND holders.
All protocol lending revenue is be divided into three key parts:
1️⃣ $BEND Buyback & Burn — 20% of revenue will be used to buy back and permanently burn $BEND.
2️⃣ Operational Costs — A portion will maintain essential protocol operations.
3️⃣ Risk Reserve — Remaining revenue covers potential bad debt (e.g. Azuki loan bidding).
💙 BendDAO — Built together, powered by the community.
🔥 WEEK 18 BURN COMPLETE!
50M $BEND from the treasury is burned.
TX: etherscan.io/token/0x0d02755…
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Never left
#NewProfilePic #BAYC
I had to sell my BAYC in Nov.
It feels great to be back in the best club every @BoredApeYC
Back like I never left.
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🔥 WEEK 16 BURN COMPLETE!
50M $BEND from the treasury is burned.
TX: etherscan.io/tx/0x9d60d5e8a8…
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New year, same commitment.
The $BEND buyback & burn continues — building long-term value step by step.
Details: etherscan.io/token/0x0d02755…
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🔥 WEEK 14 BURN COMPLETE!
50M $BEND from the treasury is burned.
TX: etherscan.io/token/0x0d02755…
Grateful for the journey and the community around Ape staking. BendDAO has supported Apes every step of the way — and we’ll continue to build and support the Ape ecosystem going forward.
some thoughts on APE:
Staking for ApeCoin ends today. I think that's a good thing longterm.
Staking had an admirable goal: align BAYC holders and long-term believers with ApeCoin.
In practice though, it created a hyperinflationary setup and constant sell pressure that didn't really benefit anyone.
So we’re moving APE to a usage-driven economy instead, and making the token deflationary.
I’ve said this before, but I think generalized L2’s without a killer app are a dead end. A chain is only as good as the thing on it that people actually want to use.
For APE, that killer app is Otherside.
We’re already seeing how Otherside can be a home for communities across crypto. And it’s the perfect canvas for us at Yuga to partner with some of the biggest companies and artists in the world, from Amazon to Daniel Arsham.
Going forward, we’ll keep evolving Otherside into the best place for creators to launch their own game or social experience, with crypto quietly doing the heavy lifting in the background: permissionless ownership, creator royalties, and open economies.
That means incentives should line up so ApeCoin wins if Otherside wins, and vice versa.
To start, from now on all gas spent on transactions on ApeChain will be burned.
So that activity on Otherside permanently reduces the supply of APE.
This will be small to start, of course, and not as flashy as staking. But it’s the start of a real economic loop, where value comes from what people build and use.
This is just the foundation. There’s a lot more coming to make Otherside more robust, scalable, wild and fun. Along with ways to make sure the economic loop between Otherside and APE is stronger than ever. More to share on all that soon.
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The buyback bot is removing $BEND tokens from circulation every single day.
#buyback
etherscan.io/token/0x0d02755…
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Congrats to the $APE ecosystem for hitting these milestones — BendDAO is excited to keep building and growing alongside the community.
➡️ Stake with BendDAO on #ApeChain
apechain.benddao.xyz
November was a milestone month for the $APE ecosystem as ApeChain passed 100M transactions and 2M accounts, with daily transactions per second outpacing most other EVMs.
Here's the Top 21 things you missed:
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