Discover and read the best of Twitter Threads about #baycs

Most recents (2)

First, ๐ฐ๐ก๐š๐ญ ๐ข๐ฌ ๐๐ž๐ง๐๐ƒ๐€๐Ž?

@BendDAO is a NFT-collateralized crypto loans supporting #NFT holders to borrow $ETH through the lending pool using NFTs as collateral instantly (40% of the floor price), while depositors provide $ETH liquidity to earn interest.
@BendDAO ๐“๐ก๐ž ๐ซ๐ž๐š๐ฌ๐จ๐ง ๐ฐ๐ก๐ฒ ๐๐ž๐ง๐๐ƒ๐€๐Ž ๐Ÿ๐ฏ๐œ๐ค๐ž๐ ๐ฎ๐ฉ

The Health Factor (๐‡๐…) is the factor used to determine the risk of collateral in Bend

๐‡๐… = (OpenSea Floor Price * Liquidation Threshold) / Debt with Interestsย 
(Liquidation Threshold = ๐ŸŽ.๐Ÿ—)
@BendDAO ๐Ÿ.๐ŸŽ < = HF < = ๐Ÿ.๐Ÿ“ => Risky => ๐Œ๐”๐’๐“ repay the debt

HF < ๐Ÿ.๐ŸŽ + ๐…๐€๐ˆ๐‹ to repay the loan within 48 hours => Liquidation will be triggered, goodbye to your mortgaged NFTs
Read 25 tweets
#BAYC Investment Thesis
As with any investment, I wrote this for myself before plunking down for a @BoredApeYC NFT. I've learned much more since. I'm sharing this to keep myself honest, seek feedback, and explain to TradFi friends why I'm so excited about web3/crypto. /1
11/23/21 Purchase at 40ETH
BAYC #9128
Decent rarity score: Rarity Tools v2 score 121.07, Rarity rank #2139
4-trait: blue dress, hypnotized eyes, silver stud, fez hat
Downside = 100% loss of capital
Upside = >130x

So what makes this special beyond just an image? /2
(A) Access to a community with
- Founders: authentic, involved and responsive @CryptoGarga @GordonGoner @TomatoBAYC @SassBAYC
- Culture: diverse membership that is happy, positive and supportive
- Network: web3 creators who give early looks at projects (mostly NFTs right now) /3
Read 24 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!