Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Post Pectra, Ethereum is now focusing on efficiency with 60 million gas limit expansion

2025-05-08

Element goes live on abstract blockchain to power the next generation of modular daps

2025-05-08

Cobie says we will return if someone buys this $ 20 million NFT

2025-05-08
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Element goes live on abstract blockchain to power the next generation of modular daps

    2025-05-08

    Camino works together with Lufthansa Systems and Swiss to stimulate innovation in the travel industry

    2025-05-08

    How Plume is planning to scale tokenized real estate to $ 4 trillion by 2035

    2025-05-08

    Hadron integrates chain analysis by Tether, represents a new standard informing tokenization

    2025-05-08

    Monero Veterinarians launch new ‘confidential per-default’ Crypto Network Tari

    2025-05-08
  • NFT

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04

    NFT -Sales set 22% to $ 107 million, Pudgy Penguins restore

    2025-05-03
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    XRP is forming bullish reverse dragon head pattern, how high can the price go?

    2025-05-08

    Bitcoin is recovering, but the market is still sharp with short -term holders near Breakeven

    2025-05-08

    Analysts say that $ 2,500,000,000,000,000 ‘avalanche’ of selling could reach the US dollar, warning trade wars threaten Greenback’s profession: report: report

    2025-05-08

    Dogecoin (doge) blinks bullish signals – is a large meeting on the horizon?

    2025-05-08

    Robinhood is said to be considering Solana, arbitrum for a new blockchain effect platform in Europe

    2025-05-07
  • Learn

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17

    Real-World-Assets in Crypto, Explained

    2025-04-16
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»BendDAO Announces Integration with Bitcoin Ecosystem for NFT Loans and Lending
NFT

BendDAO Announces Integration with Bitcoin Ecosystem for NFT Loans and Lending

2023-12-20No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The decentralized non-fungible tokens (NFTs) lending and borrowing protocol – BendDAO – is all set to embrace the Bitcoin ecosystem. In a Discord post, BendDAO said it will provide Bitcoin NFT loans and support the wBTC liquidity pool as a loanable asset.

The platform is also actively exploring ways to facilitate smooth interactions between BTC NFTs and its platform, considering options such as third-party cross-chain bridges and cross-chain bridges that leverage multi-signature wallets.

BendDAO will embrace the Bitcoin ecosystem

The official announcement from Hill, who is listed as a core contributor in the BendDAO Discord, read:

“It is time to embrace the BTC ecosystem by proposing solutions that enable seamless interaction between BTC NFTs and BendDAO, and support wBTC liquidity pools as loanable assets.”

The Third-Party Bridge Protocol proposal involves using an existing third-party bridge protocol to connect Bitcoin NFTs from the Bitcoin network to BendDAO on the Ethereum network. In this solution, users supply Bitcoin NFTs to the third-party bridge, which creates a 1:1 dedicated ERC721 token for the user. Users then deposit these ERC721 tokens into BendDAO to borrow ETH, USDT or wBTC.

Such a system will have a proven infrastructure with established security protocols and rapid integration with the ability to deploy immediately.

Multi-Signature Wallet Bridge is yet another solution that BendDAO is exploring, which uses a multi-signature wallet system that acts as an intermediary between the Bitcoin and Ethereum networks. In this case, BendDAO retains more control over the bridging process. Another benefit is improved security through multi-signature authentication.

The fear of a bank run

Last year, BendDAO was caught in a financial crisis along with several other projects after borrowing an amount of approximately 15,000 ETH.

See also  Polygon and Suku release exclusive NFT to celebrate the launch of Polygon 2.0

In response to this challenge, the team behind the project formulated a proposal aimed at restoring confidence among ETH depositors. This proposal included short-term adjustments to several parameters such as the liquidation threshold and the auction period, along with changes to the Internet base rate and improvements to the user interface.

Despite the setback, BendDAO unveiled its strategic plan last month. The roadmap outlined the completion of development and extensive upgrades for the V2 product prototype in the fourth quarter of 2023, the launch of a beta version in the first quarter of 2024 to gather user feedback, and the introduction of the official V2 version in the second quarter of 2024, with new functionalities and an improved user experience.

Additionally, in Q3 2024, BendDAO plans to update V2 tokenomics and implement on-chain governance to encourage greater community involvement in decision-making processes.

Source link

Announces BendDAO Bitcoin ecosystem integration Lending Loans NFT
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cobie says we will return if someone buys this $ 20 million NFT

2025-05-08

Since Bitcoin is approaching $ 100k, profitable concern causes: what kind of BTC is said?

2025-05-08

Bitcoin Fed Outlook – Will the lower rates BTC take to $ 200K by December 2025?

2025-05-08

Bitcoin is recovering, but the market is still sharp with short -term holders near Breakeven

2025-05-08
Add A Comment

Comments are closed.

Top Posts

Mark Cuban, Yuga Labs Lead Backlash Over OpenSea’s NFT Royalties Change

2023-08-19

There’s a lot of money waiting to be poured into Bitcoin… and this tweet just proved it.

2023-10-18

Bitcoin beats Ethereum again in NFT sales, details here

2024-01-04
Editors Picks

Analyst predicts breakthrough for Layer-1 Altcoin, says Alts is on the cusp of something special

2024-09-16

LayerZero expands cross-chain reach with Bitlayer and defi.money

2024-09-28

Cardano falls under $ 0.7: analyzing whether this zone can stop the fall of Ada

2025-03-17

Lens protocol profiles NFT drops more than 60% due to user concerns

2023-07-17
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Post Pectra, Ethereum is now focusing on efficiency with 60 million gas limit expansion

Element goes live on abstract blockchain to power the next generation of modular daps

Cobie says we will return if someone buys this $ 20 million NFT

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$101,172.664.63%
  • ethereumEthereum(ETH)$2,048.7113.46%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.256.17%
  • binancecoinBNB(BNB)$621.933.92%
  • solanaSolana(SOL)$160.2610.21%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.19077412.50%
  • cardanoCardano(ADA)$0.7311.05%
  • tronTRON(TRX)$0.2554283.72%
  • suiSui(SUI)$3.9219.99%
  • chainlinkChainlink(LINK)$15.2612.98%
  • avalanche-2Avalanche(AVAX)$21.3211.46%
  • stellarStellar(XLM)$0.2822609.56%
  • bitcoin-cashBitcoin Cash(BCH)$420.9216.88%
  • shiba-inuShiba Inu(SHIB)$0.00001410.76%
  • hedera-hashgraphHedera(HBAR)$0.19164910.77%
  • unus-sed-leoUNUS SED LEO(LEO)$8.760.62%
  • the-open-networkToncoin(TON)$3.217.50%
  • hyperliquidHyperliquid(HYPE)$21.955.39%
  • litecoinLitecoin(LTC)$93.005.52%
  • polkadotPolkadot(DOT)$4.3211.21%
  • moneroMonero(XMR)$295.124.75%
  • daiDai(DAI)$1.000.02%
  • bitget-tokenBitget Token(BGB)$4.434.58%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • piPi(PI)$0.639.34%
  • pepePepe(PEPE)$0.00001024.32%
  • bittensorBittensor(TAO)$415.6317.29%
  • uniswapUniswap(UNI)$5.5416.48%
  • aptosAptos(APT)$5.2211.91%
  • nearNEAR Protocol(NEAR)$2.6115.53%
  • okbOKB(OKB)$52.443.27%
  • ondo-financeOndo(ONDO)$0.9512.06%
  • aaveAave(AAVE)$190.7813.30%
  • ethereum-classicEthereum Classic(ETC)$17.7211.69%
  • gatechain-tokenGateToken(GT)$21.793.49%
  • internet-computerInternet Computer(ICP)$4.989.88%
  • crypto-com-chainCronos(CRO)$0.0964066.80%
  • kaspaKaspa(KAS)$0.0974367.87%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.24320612.87%
  • mantleMantle(MNT)$0.745.36%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.3715.55%
  • render-tokenRender(RENDER)$4.6514.89%
  • vechainVeChain(VET)$0.02739311.84%
  • usd1World Liberty Financial USD(USD1)$1.00-0.02%
  • filecoinFilecoin(FIL)$2.8412.17%
  • algorandAlgorand(ALGO)$0.21709111.29%
  • ethenaEthena(ENA)$0.31274519.17%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.7513.91%
  • bitcoinBitcoin(BTC)$101,172.664.63%
  • ethereumEthereum(ETH)$2,048.7113.46%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.256.17%
  • binancecoinBNB(BNB)$621.933.92%
  • solanaSolana(SOL)$160.2610.21%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.19077412.50%
  • cardanoCardano(ADA)$0.7311.05%
  • tronTRON(TRX)$0.2554283.72%
  • suiSui(SUI)$3.9219.99%
  • chainlinkChainlink(LINK)$15.2612.98%
  • avalanche-2Avalanche(AVAX)$21.3211.46%
  • stellarStellar(XLM)$0.2822609.56%
  • bitcoin-cashBitcoin Cash(BCH)$420.9216.88%
  • shiba-inuShiba Inu(SHIB)$0.00001410.76%
  • hedera-hashgraphHedera(HBAR)$0.19164910.77%
  • unus-sed-leoUNUS SED LEO(LEO)$8.760.62%
  • the-open-networkToncoin(TON)$3.217.50%
  • hyperliquidHyperliquid(HYPE)$21.955.39%
  • litecoinLitecoin(LTC)$93.005.52%
  • polkadotPolkadot(DOT)$4.3211.21%
  • moneroMonero(XMR)$295.124.75%
  • daiDai(DAI)$1.000.02%
  • bitget-tokenBitget Token(BGB)$4.434.58%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • piPi(PI)$0.639.34%
  • pepePepe(PEPE)$0.00001024.32%
  • bittensorBittensor(TAO)$415.6317.29%
  • uniswapUniswap(UNI)$5.5416.48%
  • aptosAptos(APT)$5.2211.91%
  • nearNEAR Protocol(NEAR)$2.6115.53%
  • okbOKB(OKB)$52.443.27%
  • ondo-financeOndo(ONDO)$0.9512.06%
  • aaveAave(AAVE)$190.7813.30%
  • ethereum-classicEthereum Classic(ETC)$17.7211.69%
  • gatechain-tokenGateToken(GT)$21.793.49%
  • internet-computerInternet Computer(ICP)$4.989.88%
  • crypto-com-chainCronos(CRO)$0.0964066.80%
  • kaspaKaspa(KAS)$0.0974367.87%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.24320612.87%
  • mantleMantle(MNT)$0.745.36%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.3715.55%
  • render-tokenRender(RENDER)$4.6514.89%
  • vechainVeChain(VET)$0.02739311.84%
  • usd1World Liberty Financial USD(USD1)$1.00-0.02%
  • filecoinFilecoin(FIL)$2.8412.17%
  • algorandAlgorand(ALGO)$0.21709111.29%
  • ethenaEthena(ENA)$0.31274519.17%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.7513.91%