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BEND is the governance token of BendDAO.
BEND holders can stake BEND to get vote-escrowed BEND (veBEND). veBEND holders share 100% of the lending revenue & 50% of exchange revenue & 50% of down payment revenue.
veBEND has two main uses: Voting and Earning.
Holders of veBEND can participate in voting on which NFT as collateral that Bend protocol can support for borrowing ETH and providing liquidity. It will benefit all the NFT holders as long as the supported NFT liquidity improved.
The share ratio and fee ratio can be changed by commuting voting.
- To earn 100% of ETH income collected from NFT-backed loans (30% of borrowing interest).
- To earn 50% of ETH income collected from NFT exchange fees (2% of the sale price).
- To earn 50% of ETH income collected from NFT down payment fees (1% of the sale price).
It depends on how many veBEND tokens you hold because the ETH earnings are distributed by your veBEND weight. veBEND holders share 100% of the lending protocol income.
You can stake any amount you want, there is no minimum or maximum limit.
ETH. Since the lending protocol income is in ETH.