To encourage lenders and borrowers to provide liquidity to lend pool, 40% of all BEND tokens are to be distributed through lend/borrow incentives, the Lend/Borrow Incentive ratio is 1:3.
All Protocol Incomes collected from lending and trading on BendDAO are distributed to eligible BEND stakers (veBEND holders) every 24 hours.
- The release is done in a linear format over another 24 hours.
- User can choose WETH or ETH when claiming rewards.
- Rewards do not expire so you could claim them at any time you want.
- Interest (30% in default) collected from the borrower interest.
- Trading fees (2% in default) collected from the seller.
- Down payment fees (1% in default) collection from the buyer.
The calculation of protocol income distribution every day takes the cases below into account:
Total BEND tokens staked in veBEND contract;
User Locked BEND tokens in veBEND contract.
Among 3% share of BEND total supply dedicated to Liquidity Mining, it will be used to provide LP mining rewards.