BendDAO, a notable NFT-backed loan liquidity protocol, marked its first anniversary by releasing a financial statement developed by Unboxing Lab.
The report conforms to traditional financing standards and provides transparency on the assets and liabilities of BendDAO. It includes information on the protocol’s cash reserves, loans, NFTs, and other capital.
The report also reveals that BendDAO earns 3,630.66 ETH in interest income annually, with an interest expense of 2,447.04 ETH per year and operating income of 1,183.62 ETH ($2.22 million).
Unboxing Lab’s report enables BendDAO users to analyze the protocol’s financial health, profit and loss statement, balance sheet, and risk indicators.
BendDAO has a liquidity of 67,624 ETH and charges an APR of 6.82% for deposits and 28.44% for borrowing, with a usage rate of 30%.