BendDAO Proposes $80 Million Treasury Investment Fund

BendDAO proposes $80 million treasury investment fund. According to the proposal, the fund, if approved, will function as a sub-treasury for the NFT lender. The sub-treasury will invest at least 50% of its funds in non-performing assets. Shrinking liquidity in the NFT space has seen a large volume of forced withdrawals from the NFT lender, leading to a sharp increase in borrowing rates. This situation recently saw the platform amass a significant volume of bad debt as borrowers defaulted on their loan positions. To seed the sub-treasury, the BendDAO team is seeking approval from the community to sell 1 billion of its tokens. This amounts to 10% of the total BendDAO ($BEND) token supply.