❓ What is BendDAO?

BendDAO is the first NFT liquidity protocol supporting instant NFT-backed loans, Collateral Listing, and NFT Down Payment. The seamless experience of down payment, borrowing, and listing creates a perfect closed loop for users, a one-stop NFT liquidity solution.

Instant NFT-backed Loan

BendDAO is the first decentralized peer-to-pool based NFT liquidity protocol. NFT holders are able to borrow ETH through the lending pool using NFTs as collateral instantly, while depositors provide ETH liquidity to earn interest. The leveraged NFT trading is built on instant NFT-backed loans. → More

BendDAO Links

• Website, Docs, GitHub, Dework, Twitter

✍️ Description of Work

In this dashboard, we want to examine and analyze BendDAO. For this, we check the following:

• Collateral by Collection
• Total Debt, Borrow and Repay over time
• Total Reserves and Reserves over time
• Utilization and Utilization Rates over time

To deal with this dashboard, we use the ==ethereum.core== schema and the ==fact_event_logs== table. We explain separately how to obtain data and analyzes for each section.

All data have been updated until 21:30 Wednesday, 7 September 2022 Coordinated Universal Time (UTC)

🧠 Methodology

To deal with this section, we use the ethereum.core schema and the fact_event_logs table.

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Collateral: To obtain collateral and collateral by collection, we use the fact_event_logs table, provided that:

Query 1 → Loan_Created:

 contract_address = '0x5f6ac80cdb9e87f3cfa6a90e5140b9a16a361d5c' and topics[0] = '0xd08b40d1df4963a65ee43b1f9e7fabb01f24971fe4562cd297286e59606fb40e'

In this condition, we use the contract address of BendDAO: End Pool Loan. In this condition, we use the contract address BendDAO: End Pool Loan, which Creates a Loan in each transaction by a depositor for an NFT in collections.

• topics[0] = '0xd08b40d1df4963a65ee43b1f9e7fabb01f24971fe4562cd297286e59606fb40e' → Get Loan_Created Transactions

Query 2 → Loan_Repaid:

contract_address = '0x5f6ac80cdb9e87f3cfa6a90e5140b9a16a361d5c' and topics[0] = '0xc75f1eaee157bc8a900f5c27364c2c4d99adfac7833e685565777342ef2172b1'

In this condition, we use the contract address BendDAO: End Pool Loan, which in each transaction, a Loan is Repaid by a repayer for an NFT in collections.

• topics[0] = '0xd08b40d1df4963a65ee43b1f9e7fabb01f24971fe4562cd297286e59606fb40e' → Get Loan_Repaid Transactions

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In each of the queries, we extract LoanId and then join Loan_Created with Loan_Repaid left on LoanId on the condition that Loan_Repaid LoanId is null and finally we get the number of Collateral for each collection.

1 → Collateral by Collection

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✅ Observations

According to the obtained results, it is clear that:

• NFT Mutant Ape Yacht Club has the most Collateral with 271, followed by Bored Ape Yacht Club with 251.
• The total number of collaterals is 950 NFT
• Bored Ape Yacht Club has the highest number of Depositors with 148, followed by Mutant Ape Yacht Club with 139 Depositors.

2 → Total Debt, Borrow and Repay over time

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🧠 Methodology

To deal with this section, we use the ethereum.core schema and the fact_event_logs table.

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Debt: To obtain total debt, we use the fact_event_logs table, provided that:

Query 1 → Find_Borrow:

contract_address = '0x70b97a0da65c15dfb0ffa02aee6fa36e507c2762' and topics[0] = '0xcfb3a669117d9dc90f0d3521228dc9fe67c5102dde205ef16fe9a1f81be698d5'

In this condition, we use the contract address of BendDAO: LendPool. In this condition, we use the contract address BendDAO: LendPool, where users Borrow through BendDAO: LendPool

• topics[0] = '0xcfb3a669117d9dc90f0d3521228dc9fe67c5102dde205ef16fe9a1f81be698d5' -> Get Borrow Transactions

Query 2 → Find_Repay:

contract_address = '0x70b97a0da65c15dfb0ffa02aee6fa36e507c2762' and topics[0] = '0x50e03867c1178391f204f7bf0eb2f52d5167dc65a99a9650a95abe55d17be17e'

In this condition, we use the contract address of BendDAO: LendPool. In this condition, we use the contract address BendDAO: LendPool, where users Repay through BendDAO: LendPool

• topics[0] = '0xcfb3a669117d9dc90f0d3521228dc9fe67c5102dde205ef16fe9a1f81be698d5' -> Get Repay Transactions

After finding the list of Repay and Borrow transactions, we define Dept as follows:

• sum(borrow amount) - sum(repay amount) as total_dept

Finally, we perform our analysis on the obtained transactions and get the results

✅ Observations

According to the obtained results, it is clear that:

• Currently the total amount of Dept is 13.42K ETH, the total amount of Borrow is 62.2K ETH and the total amount of Repay is 48.8K ETH
• The highest level of borrowing activity is related to the end of April and the beginning of May
• The amount of Repay has been increasing recently
• The address 0x93243bf5f577c1e325987862267d0314f72e0050 with 582.034012298 ETH has the largest debt, followed by 0x011c23b3aadaf3d4991f3abee262a34d18e9fdb5 with 553.5958 ETH.

3 → Total Reserves and Reserves over time

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🧠 Methodology

To deal with this section, we use the ethereum.core schema and the fact_event_logs table.

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Reserves: To obtain total reserves, we use the fact_event_logs table, provided that:

Query 1 → Find_Deposit:

contract_address = '0x70b97a0da65c15dfb0ffa02aee6fa36e507c2762' and topics[0] = '0x443ff2d25883a4800d36062db52ca3dd7ced05bd8627c8a6a37f8699715b5431'

In this condition, we use the contract address of BendDAO: LendPool. In this condition, we use the contract address BendDAO: LendPool, where users Deposit through BendDAO: LendPool

• topics[0] = '0x443ff2d25883a4800d36062db52ca3dd7ced05bd8627c8a6a37f8699715b5431' -> Get Deposit Transactions

Query 2 → Find_Withdraw:

contract_address = '0x70b97a0da65c15dfb0ffa02aee6fa36e507c2762'	and topics[0] = '0x3ed4ee04a905a278b050a856bbe7ddaaf327a30514373e65aa6103beeae488c3'

In this condition, we use the contract address of BendDAO: LendPool. In this condition, we use the contract address BendDAO: LendPool, where users Withdraw through BendDAO: LendPool

• topics[0] = '0x3ed4ee04a905a278b050a856bbe7ddaaf327a30514373e65aa6103beeae488c3' -> Get Withdraw Transactions

After finding the list of Deposit and Withdraw transactions, we define ETH Reserves as follows:

• sum(deposit amount) - sum(withdraw amount) as total_reserves

✅ Observations

According to the obtained results, it is clear that:

• The total ETH Reserves are currently 27.3K ETH
• The highest amount of ETH Reserves for Jun 6, 2022 is 65.11K ETH

4 → Utilization and Utilization Rates over time

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🧠 Methodology

To deal with this section, we use the ethereum.core schema and the fact_event_logs table.

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Utilization : To obtain total Utilization , we use the fact_event_logs table, provided that:

In this section, we calculate Total Supply (ETH Reserves), Total Debt and ETH Available (Query) for BendDAO in order to obtain Utilization according to the previous sections, and then we define Utilization as follows:

• 1 - eth_balalance / total_supply as "Utilization"

LTV:

• total_debt / otal_supply as ltv

✅ Observations

According to the obtained results, it is clear that:

• Currently, the total amount of ETH Available is equal to 14.03K ETH and Total Supply is equal to 27.28K ETH, the Utilization Rate is currently equal to 48.6% and the LTV Rate is equal to 49.2%.
• The highest rate of utilization is related to Aug 21 with a utilization rate of 100% and the lowest rate is related to Apr 29 with 27%.

✔️ Final Conclusion

According to the BendDAO review, the following results were obtained:

• NFT Mutant Ape Yacht Club has the most Collateral with 271, followed by Bored Ape Yacht Club with 251.

• The total number of collaterals is 950 NFT

• Total amount of Dept is 13.42K ETH, the total amount of Borrow is 62.2K ETH and the total amount of Repay is 48.8K ETH

• The total ETH Reserves are currently 27.3K ETH

• Total amount of ETH Available is equal to 14.03K ETH

• Total Supply is equal to 27.28K ETH

• Utilization Rate is currently equal to 48.6% and the LTV Rate is equal to 49.2%.